A strong luxury homes market, bad real estate agents (and what to do about them) plus the answer to last week’s cliffhanger: Did May outperform April for sales? Find out here! (This is an archived edition of our weekly news brief. Visit our Vail Valley Real Estate News page for the latest updates!)
Friday, June 6, 2014
Last week we asked if May would exceed April’s total of 98 residential properties sold. MLS data reveals 104 residential properties sold in May 2014. The luxury real estate market continued to gain ground, with four sales of $5 Million and above. This compares favorably with May 2013, when not a single home sold for over $4.45 Million. Current MLS data shows 103 Vail Valley Homes for sale at $5 Million or above – equal to just under 26 months of inventory if May’s sales pace continues.
“Most of us need a real estate agent when buying or selling a home, but we do not deserve a bad one,” claims Brad Inman. Publisher of the Inman News real estate site, Mr. Inman has had his fill of incompetent agents mucking it up for the rest of us. He even has some suggestions for discriminating against those bad agents.
Unfortunately, it is as true in Real Estate as it is in any professional field – there are good agents, who take what they do seriously, and then there are folks who just seem to be holding on to a license. While many of Mr. Inman’s suggestions are interesting, we’ve found the best ways to ensure you’ve found a quality agent are the same ways you would ensure the quality of anything: Performance statistics, testimonials, word-of-mouth and observation. Conversely, the best agents already know that the best way to get more business is to do a good job. As a commenter on the article observed “Bad agents have a very short shelf life.” Sloppy business practices and/or a lack of ethics will ensure a short career in our business.
This Week in the Vail Valley
Check out the GoPro Mountain Games this weekend in Vail! The ultimate expression of the Vail Valley local maxim “come for the winter, stay for the summer,” the GoPro Mountain Games celebrate the mountain lifestyle with contests including kayaking, climbing, mountain biking and more. Come for the games, stay for the free music.