Hey guys, here’s something really important:

70% of all the listings in America right now have been on the market for over 30 days, and about 50% have been on for over 60 days.

That should sound some alarm bells if your listings are in that category. One challenge you might be facing is the seller's perception of the market versus the reality.

For the last 10 years, sellers have gotten used to hearing stories of listings getting tons of showings, multiple offers, and selling at or above asking price. But the market is changing. If we look closely at different price categories in the U.S., we’ll find that many price bands have shifted into a buyer's market.

A buyer's market means there’s more than six months of inventory, giving buyers more control and power. Sellers still have leverage in the lower price tiers, but in the upper markets, buyers are gaining more power.

So, what do we do? How do we educate our sellers? The key is understanding the difference between...

Today I want to talk to you about the current state of the real estate market:

There's 67% more inventory on the market today than there was a year ago at the same time, which is more than before, but we still need way more inventory than we have today. When you start to see listings linger, you need to remember that there are two types of markets: listings that come into the market and sell instantly with multiple offers still happen today, but then you have another group of listings that hits the market but then just lingers.

When you're talking to sellers at a listing appointment, it's important to talk about being competitive or looking at comparable sales data. Comparative versus competitive sales data is a very important concept that most REALTORS never talk about with their seller clients.

A comparative market analysis, or CMA, is what most REALTORS use to determine a home's value compared to...