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Robert Milward

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Trade Your Property

10-23-08
Robert Milward

The time is right for trading real property. Now, perhaps more then in recent memory, we should as agents, be thinking of every creative avenue to sell our clients' homes. All sellers of primary residences are going to have to move somewhere. Most of these sellers will be buying a replacement home. Most move-up buyers are going to have to sell their primary residence. This creates a unique situation that we as agents should be acting to solve. For example, if we knew there was a seller in Sacramento that wished to move to El Dorado Hills and a seller in El Dorado Hills that wished to move to Sacramento, then we would have potential for a two way trade. Obviously, the numbers/particulars need to work but I believe sellers are becoming far less picky in terms of their desired replacement home than they were when the market was hot. Many just want to get going as the waiting and financial strain has taken a severe toll. The motivating factors for a move often outweigh the hard-line on their price. Additionally, getting the sellers thinking more like buyers can be a good thing in the overall strategy for an eventual sale. Whereas in past markets it was often a deflating experience for sellers to go out on a Saturday and look at potential replacement homes, once they saw the prices - now it is encouraging. Prices have dropped in the areas they want to purchase in. Sending your clients out to for a look is a safe and worthwhile venture. Once they see all the great properties they can afford, they will be more motivated to reduce their price and get serious.

There is no quick and easy way to make a trade. Unfortunately, no good medium exists where agents/sellers can go to see the itinerary of other sellers. If we knew, we would sell far more properties, in my opinion. MLS offers a section to select if a trade is considered, however, I don't think most agents are aware of it and even if they were, they probably do not have an in-depth discussion with their sellers about trading. Couple this with the fact that no space exists on MLS designated for trade details. This is a mistake and could be a driving force in the making of many more deals. Right now, networking with other agents is the very best way to find out about the future plans of buyers and sellers.

Perhaps this could be the impetus for such an engine.

I welcome your comments.

Robert

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