The State of the Oregon Real Estate Market and Sundance Realty: June 2019
A release covering the state of the firm, the Oregon Market, top producing agents, published articles of the month, and important information or actions for Sundance Realty agents.
By: Sundance Realty
We have seen an increase in the use of house-flipping tactics, commonly reserved for the savvy real estate investor, by specialized tech teams on Zillow and Redfin. Additionally, within our state, Opendoor has expanded its influence into the Portland metro market as of last year. The instant sale is what is appealing to many home sellers who are looking to quickly close on their properties instead of biding their time on the market. Opendoor, for example, has gone through many of the same processes that we would find with a broker's price opinion or an investors effort to determine their maximum allowable offer.
This appears to be a big threat to both Realtors and real estate investors. For realtors, the ease of its use and the speed at which a seller can receive a cash offer from the firm itself can be a little around a week. At near fair market value, and with around 5.5% fee of the price for a fee (which would have had it around the standard 6% commission rate) then this becomes a problem for us. For investors, the ability of the quick 48-hour purchase and sale offer and closing for a significant discount on the market value is less appealing compared to the instant buying practice of near fair market value in around a week. A desperate seller can afford to be desperate a few days longer to avoid losing out at potentially tens of thousands of dollars, which would have been the investor's profit margin. Surviving in the free market means being ready to adjust to the times, and to what extent this threat/opportunity may have for our industry is now beginning to manifest.
State of Sundance Realty
New Agents this Month:
Heidi Sakellar - Her motivation for coming to Sundance was that she wanted an opportunity to run her own business (which she had been doing previously) without giving half her hard-earned money to the real estate company for work she earned and completed 100% on her own. She loves working with buyers the most! She finds it extremely rewarding to help someone purchase a new home, especially first time home buyers. She had worked in property management for 10 years and then moved to escrow and title for 2 years before getting her real estate license and has been doing this for about 2 years now. Like and follow Heidi on her Facebook group page at https://www.facebook.com/
Listing Agents of the Month:
Buyer Agents of the Month:
Sundance Realty Marketing and Recruiting
We have continued to update our existing client-side website http://www.sundancerealty.biz/
Updated Sundance Realty Social Media Accounts