Have you ever shopped for clothing at Syms?
Besides brand names at great prices, Syms advertises that
An Educated Consumer is Our Best Customer ®
The same thing holds true for my business -- professional real estate sales. My goal is to ensure that my current and future clients have the most detailed and comprehensive information available to help them make the important decisions necessary in buying or selling a home in Northern Virginia.
As a professional REALTOR®, I spend a good deal of time keeping up to date on the latest news, statistics, market reports, and events that effect the local real estate market. I read it so you don't have to spend the time. After all, you've got better things to do, like concentrate on earning your living so you can afford to live in the increasingly pricey metro-D.C. area.
Besides reading the major newspapers, The Washington Post and Washington Times, I scour through real estate and mortgage industry publications, subscribe to Google alerts about relevant real estate topics, read hundreds of blog posts weekly related to both local and national real estate trends, review market statistics for local neighborhoods, and preview local homes both on my own and with clients. Additionally, I regularly attend real estate industry conferences on the local, regional and national levels to keep current on all of the latest news that directly affects my clients and business.
One of my most crucial roles as a professional REALTOR® is to distill this knowledge and provide it to my clients so that they can make educated and informed decisions when it comes to buying or selling a home. By writing my own Northern Virginia real estate blog, I'm able to communicate valuable information to current and future clients.
Every once in a while, I come across a report or an article that deserves to be read in full by anyone thinking about participating in the real estate market. Recently, Metropolitan Regional Information Systems (MRIS) which runs the Washington D.C. area Multiple Listing Service, issued a report in conjunction with Delta Associates, that warrants such a look. The report is entitled Trends in Housing at Year End 2007.
Click here to download the complete year-end report.
Or call me or send me an e-mail requesting it and I'll be happy to e-mail you the full report.
The report covers the following topics:
- an overview of the Washington D.C. metropolitan economy with an outlook towards the future
- report on home sales for 2007
- report on condo sales for 2007
- impact of foreclosures in the D.C. metro area
- potential impact of the Pentagon's Base Realignment and Closure plan (BRAC)
- an overview of the commercial real estate market
Some of the interesting key points made in the report:
- Washington D.C. metro area is the 4th largest job base in the country
- Northern Virginia accounts for 54% of payroll jobs in the area, followed by D.C. with 25% and suburban Maryland with 21%
- 95% of jobs in the D.C. area are in the services sector
- D.C. region has only 3.0% unemployment
- The Northern Virginia and D.C. real estate markets are largely insulated from the national housing slowdown
- Foreclosure rates vary widely by jurisdiction -- quite low in D.C., Arlington, Alexandria; much higher in Loudoun and Prince William Counties
- Affordable housing is still a big issue
- BRAC will have a significant impact on the region, especially in southern Fairfax County because of approximately 19,000 jobs moving to Fort Belvoir in the next 3 years
If you have any interest in real estate in Northern Virginia or D.C., and/or you plan on purchasing a home or selling a home within the next few months or year, I highly suggest you read this report closely and educate yourself on the real estate market.
I want my clients to be educated.
Just like Syms, An Educated Client is My Best Client.
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Brian...you have great tips for your potential clients (because from a post like this the'll surely be ringing your phone off the hook) and more often than not....they do like current information.
Brian...some excellant advice...especially for Buyers! And sure to spell success!
I could not agree more, some of what you are paying for when you hire a professional is their knowledge and expertise. I would not ever wish to choose a Realtor, who did not know their market like the back of their hand. I see you know it like the back of both hands and tops of your feet too. Lance
Brian - I really like this post! Staying on top of the market in your area as well as national trends is very important. There is nothing like working with someone who knows their stuff.
Great and comprehensive list. I sometimes feel like a reporter myself as, like you, I read so much on a daily basis to make sure I am well educated about our market, community and the economy. Your clients are lucky to have you!
I agree Brian, The clients that have done their homework & are very educated about the market & conditions are wonderful clients. I am always happy to educated them as well and they are so much more open to the possibilities/reality than those that are resistant.
Brian That is an extremely well done and informative post. I agree that a true professional is always abreast of the market regardless of the type business, Karen
Brian - You certainly go that extra mile when it comes to educating your potential clients.
Brian: A good Realtor is like a teacher....and a waiter, and a lawyer, and a psychologist, and a private investigator, and...
Way to keep Northern VA and D.C. educated.
Great information Brian. There is a lot there that shows - our Real Estate market may be slow; but it is far from being as bad as other parts of the country.
SALLY: Thanks for your supportive comments. The more educated we are, the more we can help our clients.
JOAN: Thanks for reading and commenting. Sometimes it's a struggle for people to keep up with our ever changing market. It's our duty as agents to stay ahead of the game by constantly educating ourselves so that we can educate our clients.
LANCE: I'd further add that most of what clients are paying for is our knowledge and expertise. With the internet and all kinds of free information, clients can find homes practically on their own, learn about the area, etc. It's our market knowledge, negotiating expertise, etc. that makes us valuable to our clients.
BILL: Thanks for you remarks and I'm glad that you like the post.
DIANE: Thanks for your comment and compliments. It does feel like we are reporters sometimes, doesn't it?
STEVE: Another thing that I really enjoy doing is hosting homebuyer seminars to educated potential clients about the market and the real estate process. I've just scheduled my first one for 2008 and have had good success with them in the past.
KAREN: Thanks for your comment and compliment.
KATHY: Thanks for your comment. I like to think so too!
JOEY: Thanks for your comment and compliment. We do wear multiple hats quite often.
JAMES: Thanks for your comment. I am quite glad to live and work in the area where we do.
Brian...I feel like a well taken care of client. You have been educating me. Thanks for the post.
Kathleen
Thanks for posting. I checked out the most recent MRIS stats they aren't too good across the board. It may be a great time to think about buying!
KATHLEEN: Thanks for your sweet comment. I appreciate it.
JIM: Thanks for your comment. I do think it is a good time to think about buying and call and e-mail volume from potential buyers has been picking up in the last few weeks.