The real estate transaction isn’t just about buying or selling a home. At the very core, we’re dealing with an incredibly emotional process wrapped in a huge financial step. The psychology of the buyers and sellers plays a role in the success of the transaction, and an extreme market doesn’t make for a joyful experience for anyone involved.
From multiple offers to rushed decisions, the market we were in was anything but stress-free. Getting into a home or selling a home was nail-biting and anxiety-inducing on a lot of fronts. A real estate transaction should lead to a joyful, peaceful outcome, but extreme conditions do the exact opposite. That’s why instead of freaking out, so many people are actually relieved that things are finally balancing out.
Amanda Malcolm is one of those people. Coming from a hospitality background, she understands that the psychology of buyers and sellers is a critical piece to a successful transaction. In this episode, she shares why she’s happier in this market, what makes Paradise Valley such a great area and how she climbed Mt. Kilimanjaro.
You’ll also learn;
- Why so many sellers actually prefer not being in an extreme seller’s market
- How the inventory jump from 4,500 to over 23,000 affects home prices
- Why the market isn’t as scary as the media says
Key Points
Agents need home tours too (06:01 – 10:19)
You would be surprised to learn that many real estate agents take part in home tours in the areas they serve, and how this practice actually benefits the consumer. When agents view each other’s listings, it provides a ton of exposure to the home, and in a limited inventory market, this can actually help a buyer get in the home. In the luxury market, home tours allow an agent to spot what might be a good purchase for a buyer who isn’t actively looking and secure the home in a competitive scenario. The relationships agents foster in these home tour groups can actually speed up a transaction and eliminate many hurdles and challenges because the agents know each other.
Paradise Valley (10:31 – 15:59)
One of the most special things about Paradise Valley is that it’s located in the valley of 3 mountains – Camelback, Mummy Mountain, and the Phoenix Mountain Reserve. It’s about 15 minutes from Sky Harbor, you have a view from every angle and the town itself is about 15 square miles. You get beautiful views, a small-town feel, and luxury homes. This area is really attractive and recently a home sold there for a whopping $21 million.
Was the extreme seller’s market all that great? (16:03 – 25:20)
Going from an extreme seller’s market to one that’s more balanced actually works out for sellers too. If we consider what the market was like – multiple offers, viewings, fast transactions and the stress of having to buy a home after selling, it’s not hard to imagine why sellers might prefer where we are today. Having to buy or sell a home in such a financially and emotionally heightened market is very difficult so the transition to a more balanced market is a welcome one because it restores time, optionality, and joy to the real estate experience.
Guest Bio
Amanda Malcolm brings her passion, enthusiasm, exceptional client service, and dedication to building everlasting relationships to The Agency in Scottsdale. A member of the industry-leading team led by Wendy Walker, Amanda specializes in the luxury market representing buyers and sellers across Paradise Valley, Phoenix, and Scottsdale. She loves nothing more than learning about new people, anticipating their needs, and opening the doors to their dream homes.
Just like every individual she represents, Amanda understands each home has its own unique story. She brings that story to life, putting her extensive local market knowledge and nuanced understanding of each community to work for her clients. She guides and supports them through the transaction process with consistent communication and negotiation prowess to ensure a smooth transition.
Amanda believes the real estate process requires the highest level of service one can provide. Before embarking on a career in real estate, she spent 14 years in the hospitality industry, managing, consulting, and coordinating events at Rancho Mañana Golf Course and Cartwright’s. Her experience of exceeding expectations through exceptional service was an inspiration for her.
Go to WendyWalkerFineProperties.com and follow @amandamalcolmgloballuxury on Instagram.
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