What a week last week was in the Boston South End office of Coldwell Banker Residential Brokerage. Agents were uncharacteristically busy for the week before Christmas. Showing levels increased on many properties that have languished on the market for months. Six under agreements came in in the last 3 days. It’s as if folks realized the year is about to end, and oooops! Realized they forgot to buy a condo!
A number of agents were rushing past my office frantically scheduling multiple last-minute showings on their properties. “You want to see the property at 6PM Friday evening, the night before Christmas Eve? Of course we can schedule that!” I heard negotiations between buyers who had walked away from negotiations a week ago and sellers who were willing to revive those negotiations, finally come to an agreement. We have had several closings that had been postponed finally close and others will close this coming week.
What does this year end flurry of activity mean? It might be simply that the weather outside was 50 and sunny. It might be some year-end pent up demand or it could be just the natural urgency in negotiations that typically occur at the end of every year. Whatever it is, it is welcome. Year-end sales figures will ultimately give us the answers.
As the year winds down conversations around the office and in our last business meeting invariably end up being about what business will look like in 2012? Interestingly, with all the challenges we have faced in 2011 – from financing problems, to a shortage of inventory, to tough negotiations – agents are very positive and upbeat going into the New Year. I think that for agents who have learned to work successfully through the challenges in this “new real estate normal,” they have come out the other side with a renewed confidence in their ability to succeed and with a more positive attitude for the year ahead. This is surely a good sign for all of us for 2012.
Have a wonderful holiday week.