According to Bill Plattos, general manager/executive vice president, First Team Real Estate, inventory has gotten better than it was 1.5 years ago. Whether it’s the MLS or Case-Shiller, data is crucial when it comes to keeping up with the current trends and ensuring that you, your company and agents are prepared for what’s coming down the pipeline. “The MLS is right there, so we know what the inventory is,” added Plattos, who explained that dealing with the inventory shortage is all about coming up with solutions to the current cycle. “As real estate professionals, we live these cycles, so we know what’s going to happen before it actually does.”
In the end, confronting the inventory shortage comes down to creating an overall strategy that can be easily executed across the board. “We can’t haphazardly do tactical things,” said Chris. “We need to sit down, figure out what the problem is—as well as how we’re going to deal with it—come up with an overall strategy and then execute it.”
