Buyers should make these changes to find the right home in their budget.
Transcript:
CONWAY GITTENS: So talk to me about the selling side, if you will. There are many younger Americans who feel discouraged about the housing market?
RYAN SERHANT: Of course. Yeah, absolutely.
CONWAY GITTENS: They feel like housing affordability is out of reach. They can’t do it. It’s just. So what’s your advice on how to navigate through that. I guess that disappointment and ultimately get to a place where a person feels like they can buy a home.
RYAN SERHANT: I think most people can buy a home just not where they want to and maybe not the home they thought they could get, which is upsetting. And I totally get it. Even for me, if I’m looking right now in the Upper East Side of Manhattan, I’m like, wait a minute, a three bedroom home. On a fourth floor costs $10 million. Is that normal. Is that right. Is that the new normal. What am I going to do personally to be able to fix that, to bring prices down. I’m not there’s much, much big movers at play. But I do understand that over the course of history, prices increase over the course of history, fees increase over the course of history, geographies change. Five years ago you might have been able to afford, given your current pay, that two bedroom you always wanted in Chelsea today, that might have to be in Hoboken. Hoboken is great. I love New Jersey. We opened up a New Jersey a year ago. It’s one of our strongest markets. It’s incredible. I think there is a resetting of expectations. It’s not that you can’t afford a home. It’s that you can’t afford the home you wanted and thought you were going to get that was promised to you. And so one of our businesses is sellit.com sales training. It’s direct to consumer and it’s also direct to business sales training. And one of the things we talk about with people all the time is level setting expectations and being really, really truthful and authentic with people and not lying to them the way they’ve been lied to for years and years and years and years and years. And I think when we change the narrative to more honest communication for the average person, which is everybody at the end of the day, then you start to have a more healthier conversation about where am I going to live. Where am I going to raise a family. Do I want to have a family. Do I want to have a job. Do I want to have five jobs, six jobs, 10 jobs. What do I want to do. But I think the lies that we tell people have to stop. And I’m a big proponent of transparency and honesty. And you see that, too, in the NAR commission ruling, right. The National Association of Realtors and the big box brokerages were sued in a class action lawsuit, and they lost because they were defending a model from the past instead of building for the future. And where we’re going. And what that has done is create more transparency. It’s fine.
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