I recently took a trip down to Phoenix, Arizona, so today’s message comes to you straight from the States. With everything going on in our Calgary real estate market, though, some might think I’m out of my mind for traveling out of the country right now.
If you aren’t already aware, Calgary is on track this year to see the fewest sales since the year 2000—since which time we’ve had a 53% increase in population. Prices have, of course, gone up. They’ve actually risen 167% since 2000.
Despite all of this, I don’t actually believe our Calgary market itself is the problem. Allow me to illustrate why with a brief anecdote.
Recently my wife and I decided to go to Kensington on a date night. As we were walking around, we noticed the incredible number of vacant businesses in the area. Even many of the businesses that were technically open were virtually abandoned. We went to a sushi restaurant, for example, and found that it was next-to-impossible to receive any kind of service. After some time of waiting, we left and decided to try somewhere else.
Our experience at the next restaurant couldn’t have been more different from what occurred at our first stop. We were greeted at the door, escorted to a table right away, and given great service through the duration of our meal. The food was good, but the service was what really mattered. And this same line of thinking can be applied to real estate. Whatever may be happening in the market, real estate professionals must remember that they are, essentially, in the service industry.
The “product” itself is far less important than how consumers are treated. Agents must be creative and resourceful when meeting the needs of their clients. Market conditions aside, Realtors must be able to understand their clients’ pains, pleasures, and dreams. Now is not the time to cut back on marketing costs and personal growth.
If you have any other questions or would like more information, feel free to give my team or me a call or send us an email. We look forward to hearing from you soon.