Published: Sunday, April 12, 2009
Some local real estate agents are doing fine, even in a rough market
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Dan Bates / The Herald
Michelle Macris (left) and Jill Estes of John L. Scott Real Estate meet to look over a newly listed home in Snohomish on Wednesday. The two are not only good friends; they're real estate agents who remain busy despite the rough economic climate.
The going got tough in Puget Sound real estate more than a year ago, and it wasn't the tough who got going -- not into another line of work, anyway.
It was the agents who entered the market when times were good, when success in real estate meant publishing a listing, then kicking back until the bidding wars died down.
These aren't those times.
And mostly, the agents selling houses now aren't those agents.
"A lot of those agents who jumped in when the market was good, they don't know what it really takes," said Michelle Macris, a Snohomish County agent. "When things are a little tough, it takes more than putting a sign in a front yard and crossing your fingers and saying, 'I hope it sells.'"
Macris is one of the agents outlasting the housing slump, and is picking up quite a bit of business as the market groans to life in time for the springtime buying and selling season. She's booked with clients for weeks in advance, and is lauded as one of the top-selling agents at John L. Scott's Everett office.
The secret to success in a recession-battered housing market? Macris advises realism, honesty and a strong aversion to just telling clients anything they want to hear. "Right now it's all price," she said. "It has to be priced appropriately. If not, all your efforts go down the toilet."
She added: "I've lost a lot of listing appointments by just being really honest with people. And they've come back and listed with me."
Real estate was considered a hot career track just years ago, especially in Snohomish County where new homes were going up at heightened rates to accommodate the county's growing population. New agents flocked to the burgeoning market, making competition tougher.
No recent comprehensive statistics on active agents are available, but experienced real estate professionals paint a clear picture: Essentially, the pool of agents has seen its own recession.
And those who remain? Some say it takes a certain mindset.
"I think what accounts for (success) is a positive mind," said Bonnie Lovitt, a Century 21 agent based in Snohomish County, "And so it may be slower for other folks."
Clint Schlotfeldt, another of John L. Scott's top sellers, said he's seen a huge exodus of agents in the Puget Sound region -- and it's partly because they aren't willing to adjust to the reality of the market.
Schlotfeld closed 175 sales last year, not the 300 he expected a few years ago. "It was certainly down, but we adjusted," he said. "And I think most agents who have survived the market have done that."
He's finding buyers much more cautious than in past years. His role tends to more one of an educator these days, as clients want to research their options and get the best value they can.
"Two years ago, we were still busy," he said. "But you didn't have to get out there and educate the buyer."
So far, the market outlook looks uncertain, and experts disagree on just when the industry will hit bottom.
Numbers released last week showed March home prices in Snohomish County were still down from last year's averages. But some speculated April will bring stronger numbers, citing a surge in pending sales -- the highest number since last fall.
It was the agents who entered the market when times were good, when success in real estate meant publishing a listing, then kicking back until the bidding wars died down.
These aren't those times.
And mostly, the agents selling houses now aren't those agents.
"A lot of those agents who jumped in when the market was good, they don't know what it really takes," said Michelle Macris, a Snohomish County agent. "When things are a little tough, it takes more than putting a sign in a front yard and crossing your fingers and saying, 'I hope it sells.'"
Macris is one of the agents outlasting the housing slump, and is picking up quite a bit of business as the market groans to life in time for the springtime buying and selling season. She's booked with clients for weeks in advance, and is lauded as one of the top-selling agents at John L. Scott's Everett office.
The secret to success in a recession-battered housing market? Macris advises realism, honesty and a strong aversion to just telling clients anything they want to hear. "Right now it's all price," she said. "It has to be priced appropriately. If not, all your efforts go down the toilet."
She added: "I've lost a lot of listing appointments by just being really honest with people. And they've come back and listed with me."
Real estate was considered a hot career track just years ago, especially in Snohomish County where new homes were going up at heightened rates to accommodate the county's growing population. New agents flocked to the burgeoning market, making competition tougher.
No recent comprehensive statistics on active agents are available, but experienced real estate professionals paint a clear picture: Essentially, the pool of agents has seen its own recession.
And those who remain? Some say it takes a certain mindset.
"I think what accounts for (success) is a positive mind," said Bonnie Lovitt, a Century 21 agent based in Snohomish County, "And so it may be slower for other folks."
Clint Schlotfeldt, another of John L. Scott's top sellers, said he's seen a huge exodus of agents in the Puget Sound region -- and it's partly because they aren't willing to adjust to the reality of the market.
Schlotfeld closed 175 sales last year, not the 300 he expected a few years ago. "It was certainly down, but we adjusted," he said. "And I think most agents who have survived the market have done that."
He's finding buyers much more cautious than in past years. His role tends to more one of an educator these days, as clients want to research their options and get the best value they can.
"Two years ago, we were still busy," he said. "But you didn't have to get out there and educate the buyer."
So far, the market outlook looks uncertain, and experts disagree on just when the industry will hit bottom.
Numbers released last week showed March home prices in Snohomish County were still down from last year's averages. But some speculated April will bring stronger numbers, citing a surge in pending sales -- the highest number since last fall.
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