Sometimes it Takes a Real Estate Agent to Sell a House in Middle Georgia
Just like many other cities, Warner Robins and Macon Georgia has enjoyed one of the longest running real estate market climbs in history. From 2013 til 2018, the housing market climbed out of an all time low to the previous values seen in 2007. Because of Covid (and other various factors), the housing market values in Middle Georgia continued up and has almost doubled again.
It takes a smart real estate agent to keep up with the demand in a market with such low inventory and fast changes. Many investors (who usually target “for sale by owner”) stopped buying houses when Covid hit because housing prices jumped up and availability went down. If a seller didn’t use a real estate agent, it was hard to sell a house in Warner Robins and Macon areas. But if a seller had a decent house, an agent could get their client top dollar within hours of listing.
It will take an even smarter agent to sell a house in the months to come.
As all industries move in cycles, so too does the housing market. Housing forbearance is now gone and mortgage companies are declaring open season on delinquent loans. While some mortgage companies are smart enough to allow homeowners to modify the loan they currently have, many are already demanding any delayed payments due to forbearance be paid in full immediately. This will cause a wave of foreclosures.
There are quite a few “We buy Houses” companies that are looking for a good deal in the down market that looks to be coming. The problem is, most of these houses will have fresh loans from recent years with very little equity. If the market drops enough, these houses could become worth less than the seller owes (I.E. under water). With a buyer’s market looming, these Warner Robins house sellers will have to come out of pocket to sell their house or not sell. This is where it will be the smart real estate agents that earn their pay.
“Short sale” is a term for selling a house for less than is owed, with the approval of the mortgage company. From 2007 to 2013, Short sales were the hot topic of many homeowners that needed to sell and trying to avoid foreclosure. IF… the housing market turns in 2023, agents familiar with short sales will find themselves more busy than anyone else.
Many professional house buyers in Middle Georgia are good at finding creative solutions to real estate problems like this, but some of the general public still see these house buying investors as used car salesmen, trying to take advantage of homeowners in trouble. Despite the fact that the outcome of using an investor or an agent to offload an unwanted house being similar, Realtors have a distinct advantage of credibility on their side.
Real Estate agents make a promise to find the best option for their clients. Sometimes that involves advising a client not to sell. Leasing is another trick agents will need to be familiar with. Knowing the best leasing companies in the middle Georgia area can add value to the client.
Real Estate agents have been a trusted choice for selling a home since the mid 1800’s. Even though investors have been buying houses just as long, professional house buyers have only been seen in the public eye since the early 1990’s. Real Estate agents have more credibility in the current market.
If a good real estate agent has a very extensive marketing network and can get in front of many more people, they would only need to learn about short sales, leasing and a few other creative tricks to real estate problem solving and they will never run out of business.