Recent Transactions

February 11th, 2022

I just got my broker license, and one of the most common responses to my happy announcement is, “Wait, didn’t you already have your license?” The answer is yes. I have my real estate license, but I chose to pursue a bit more training and give myself some options down the road, and so now I have earned the title, Associate Broker. So, an agent isn’t a broker? A broker isn’t an agent? What about a Realtor? Confused yet? Read on…

A real estate agent is not necessarily a broker, nor a Realtor. People often use these titles interchangeably when referring to their agent, and frequently use the term “broker” to represent all of the above. It’s not necessarily wrong, but there are a few things that distinguish these titles that might be worth a quick read below, just so you can feel a little more confident when referring to your broker in the future.

An agent is a licensed salesperson who can transact in a particular state (or multiple states, based on their licenses) on behalf of a buyer or seller. Agents must work for a sponsoring broker, such as Houlihan Lawrence.  However, not all real estate agents are Realtors. 

Realtors are agents that are part of a network called the National Association of Realtors (NAR), and they are held to a strict code of ethics and standard of practice. Of course, every agent is expected to deliver honest and ethical treatment to clients throughout the course of business, but it is important to note the difference here as it relates to the NAR affiliation, which gives the agent the elevated title of Realtor. So, what is a broker? 

A broker is a real estate agent or Realtor that has completed additional training and licensing requirements and has earned a broker license, distinct from the real estate agent’s license. Unlike an agent, a broker can work independently and start their own brokerage and hire other real estate agents to work for them. There are instances where agents have earned their broker license, and choose to work under another broker. These agents are called Associate Brokers. That’s me!

So, I’m an Associate Broker, and I chose to get my broker license to a) max out my education in this field, and b) give myself some options down the road. Maybe opening my own brokerage and hiring some agents would be an interesting prospect in the future, and it doesn’t hurt to distinguish myself with some higher learning and elevated credentials at the same time!

So, go ahead and call me your “broker”, because in this instance, that’s exactly correct. As always, I’m working hard to invest in myself in every way to serve my clients with the highest level of service possible. If you’re looking to make a move, you know the broker to call!

October 19th, 2021

I wish I could say that buyers will have some sort of reprieve in the near future. As much as we’d like to see an uptick in inventory and a return to “normal” pricing, the supply just isn’t there, and so the demand continues to surge. As we approach the holidays, we’ll likely see even fewer listings come on the market as people turn their focus to planning creative covid-friendly holiday gatherings and bide their time until the spring market. 

But what about the winter market? Of course, the inventory is notoriously lower and people are less likely to buy a home covered in snow, but in a seller’s market like the one we’re in now, this historically sleepy season can be a perfect time to snag a beautiful home while no one’s watching. 

I just had a listing come on the market and after 32 showings over one weekend, we were under contract within one week. We had multiple offers over the asking price and the sellers got their ideal terms. Granted, this home was one of those picturesque dream homes, and so it deserved all that attention, in my opinion. However, I don’t know one buyer that is excited to participate in that sort of mayhem. So, just as buyers are hanging up their hats and choosing a holiday party over a night scouring Zillow or building their dream home on Houzz, you just might just have a chance at snatching that perfect home while others have given up for the season.

Historically, the spring market is expected to bring new inventory, and I pray it does. However, the spring of 2021 was less than thrilling. As we all know, the spring market usually kicks off the year with a brand new crop of homes and buyers are revived from their post holiday blues with a beautiful list of new homes for sale just after the Super Bowl! But we are facing somewhat of a downward spiral with this lack of inventory. Sellers are increasingly concerned about one major issue: where to go. It is a real problem for sellers. They would love to sell right now and maximize the profit on their home, but there is nothing for them to buy. It’s almost like we need all the sellers out there to agree to put their homes on the market at the same time so they are promised some options for themselves! So, needless to say, I’m not convinced that this upcoming spring is going to bring about notable change in the inventory. It didn’t happen this year and I don’t see any indicators that would lead me to believe things will change for next year, unfortunately.

What about building from scratch? Now we get into the global supply chain disruption. Listening to podcasts about the economic impact of covid has not necessarily painted a pretty picture.  I’m hearing comments like, “the repressed economy is going to further delay our economic recovery” and discouraging comments on the worldwide traffic jams with shipping companies all over the world that are “swamping the system” and there isn’t a lot of hope that this will change in the near future. I do think that consumers are going to get used to buying less, and expecting less, at least for the next few years. I don’t know about you, but I’m not turning to Amazon as readily as I was in past, because I know that the delivery could easily be delayed, and ultimately I conclude that I really don’t need that item that badly. Even before covid, I had friends committing to “a year of no Amazon purchases” to combat the urge to buy impulsively, save some money, and consider what is already at home. Maybe the kids don’t need those brand new winter hats this year after all. Translating this to the real estate market, maybe it’s not such a good idea to rely on materials coming from overseas to build your dream home right now. In fact, that move-in ready home is looking pretty good compared to the premium your GC is charging you and the time to completion that just doubled due to shipping delays.

In summary, I think it’s safe to say that this market is here to stay for a while. It’s not easy for buyers, but it’s not easy for sellers either. You can get a great price for your house, but where are you going? Buyers are having to fight tooth and nail to get their dream home and pay a covid premium to boot.  My feeling is that we should get used to this new normal and settle in. Buyers should think about how to best position themselves both financially and educationally. Watch the market, know what you want and be ready to pounce, and don’t be scared of the winter market - spring may not bring you many more options. Sellers should really think about making their home move-in ready. Don’t think because it’s a seller’s market, you can sell your home for a premium without making any updates. Buyers are savvy. They won’t buy a home that needs too much work, it’s just too expensive and time consuming. So, get it right, and get it right the first time. Don’t overprice your home and go through a price reduction, accruing days on market and making the buyers think something is wrong with the house.  Fix it up and price it reasonably, and you’ll be happy with the results. 

These market conditions may stick around longer than we’d like, so pair up with a  top agent  and get it right. Maximize your return or snag that dream home before someone else does.