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Aug. 17 came and went, and while it seemed like real estate’s Y2K moment, it was largely uneventful and anti-climactic. Maybe it was the months of preparation, endless training and webinars leading up to this point, along with a slow march to the implementation date. I know I was more than ready to move on as it seemed like all I did was consume content, prepare content and talk about the practice changes 24/7. Real estate life goes on.
In typical fashion, the market didn’t stop, and things started to get busy for me around the time of the transition. With a little over one week into real estate’s brave new world, it has felt like a game of red light, yellow light, green light with all the protocols and procedures that have to be followed when conducting business.
Here are observations thus far:
Florida
Showings
Initially, showings seemed a bit slower on my listings. I’m not sure if that was due to the time of year or the implemented practice changes. I only had one showing on one of my listings in Florida that had good activity in the weeks leading up to Aug. 17, and as of this writing, activity still seems to be slower than it should be.
This property falls in first-time homebuyer territory, so it’s possible there is some hesitation with first-time buyers who could be reluctant to sign a buyer agreement for fear of a financial obligation to their agent.
The seller is offering compensation to a buyer’s agent. I also had two buyers who had been referred to me in the two weeks leading up to the deadline. One was considering building from scratch, and the other was relocating.
Buyer conversations
While I was excited to…