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By Aaron Thomas, WRAL press reporter New realtors are piling into the Triangle's red-hot housing market. Shawn Hays, the president of the Durham Regional Association of Realtors, states there are almost 7 representatives for one home on the market. As of Friday, there were almost 2,000 active houses for sale out of 13,500 realtors in the area.
The couple bought the home for $25K over asking price without even setting foot inside. While the competition is hard and purchasers have many options to select from, professionals stated your best option is utilizing an agent with great deals of experience. "In a hot market like this, when there's such low inventory ...
" What drives that is the expertise of the agent that you're working with. It might be their experience and understanding how to work out, it might be finding homes that aren't on the marketplace yet or it might be their connections with regional builders or nationwide builders." As the property market continues to get more competitive, a surge of agents are signing up with the 'housing gold rush' in the Triangle.
The coronavirus pandemic is likewise contributing to the influx of real estate agents, Hays said. "We're seeing more individuals that have had time to get their license because the education has changed to online from face to face. It end up being more available," he stated. North Carolina State University financial expert Mike Walden says new realtors may be seeking to money in as real estate costs soar.
" The labor market in any area will seek it's own balance ... but certainly I would tell anybody taking a look at realty as a profession to perhaps hold back. It's most likely going to over-populated with representatives this year." read more says increasing interest rates on houses could weed some industry beginners out if the need to acquire a house drops.
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