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Chief Marketing Officer John Ryan with Georgia MLS joins the Atlanta Real Estate Forum Radio podcast to discuss 2023 predictions and 2022 takeaways. Ryan joins host Carol Morgan on the All About Real Estate segment and offers agents tips to navigate the current market.
Ryan has been with Georgia MLS for almost 30 years and has witnessed many changes in how data is distributed. As Georgia’s largest real estate marketplace, Georgia MLS tries to connect its members with clients through the information that the company produces. From the north Georgia mountains to the Georgia coast, you can find Georgia MLS offices throughout the state as well as in the contiguous states across the southeast.
For the real estate housing market, 2020 and 2021 were record years. After seeing over $50 billion in sales in 2021, the Georgia MLS team knew that working through 2022, they would experience a lower number of units sold and less sales volume. Even though the 2022 market was highly active, the last quarter of the year showcased an accelerated decline compared to the past two years. With the state of the economy and interest rates, sellers and buyers were hesitant to get involved in the real estate market.
Ryan said, “I believe the combination of those market forces (the economy and interest rates) caused people to step back a bit.”
With the inventory days-on-market rising from around six to about 22 days, there is tremendous opportunity ahead within the new year for individuals looking to sell their property or move into a new space. With low inventory numbers, stable housing prices and are anticipated for the new year.
Ryan said, “I think it will still be a seller’s market in the sense of inventory, but I don’t think that the hyperactivity we saw in the last few years will be taking place as much.”
While the current inventory numbers are low overall, Georgia is up 84% in available single-family homes. While this gives first-time buyers ample opportunity, some may have to adjust to the features and pricing available because interest rates change the buying power. There is also an opportunity for negotiation on new build prices with new construction offering incredible incentives.
Ryan said, “Buyers can marry their house, but they can date their mortgage.”
While the market is still active, agents must adapt to the slight decline. Georgia MLS focuses on ensuring its members get back to the basics of the tools the real estate service company provides. In the new year, agents should concentrate on the spirit of influence and working with their contacts. With the tools that Georgia MLS provides, agents can overview the performance of listing ads and relay the information back to their clients to help with marketing strategies and plans.
Ryan said, “We’re just getting back to the fundamentals.”
Listen to the full interview above to learn more about Georgia MLS, or visit www.GeorgiaMLS.com.
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A special thank you to Denim Marketing for sponsoring Atlanta Real Estate Forum Radio. A comfortable fit for companies of all shapes and sizes, Denim Marketing understands marketing strategies are not one-size-fits-all. The agency works with your company to create a perfectly tailored marketing strategy that will adhere to your specific needs and niche. Try Denim Marketing on for size by calling 770-383-3360 or by visiting www.DenimMarketing.com.
The Atlanta Real Estate Forum Radio “All About Real Estate” segment, presented by Denim Marketing, highlights the movers and shakers in the Atlanta real estate industry – the home builders, developers, Realtors and suppliers working to provide the American dream for Atlantans. For more information on how you can be featured as a guest, contact Denim Marketing at 770-383-3360 or fill out the Atlanta Real Estate Forum contact form. Subscribe to the Atlanta Real Estate Forum Radio podcast on iTunes, and if you like this week’s show, be sure to rate it.