CHARLOTTE, N.C. — Charlotte native Meredith Kyle says she became a real estate agent to show off her hometown to new people.
“One of the first things I do when I have someone new to Charlotte is, I show them, ‘Here’s what you can get in Uptown, here’s what you can get in Myers Park,’ all within their budget,” Kyle said.
What You Need To Know
- The Federal Reserve’s latest interest hike has brought 30-year fixed rate mortgages to more than 7%
- The latest housing report by the real estate company Remax shows sellers nationwide accepted offers below listed prices in September
- During the hot housing market in 2020 and 2021, real estate agent Meredith Kyle educated clients, urging them to wait rather than to overpay
- Buyers who were hesitant last year are finding less competition now
She says she’s doing just that with her first Charlotte Brunch Bus Tour — a citywide tour of homes for sale.
Realtors reported an average of 12 sales last year — up from 10 the year before, according to a survey by the National Association of Realtors — but the pandemic-driven real estate boom didn’t line Kyle’s pockets in the same way it did for other real estate agents.
“My last year was the slowest year I’ve had in the past five years,” she said.
Kyle says rather than pushing her clients into the competitive market in 2020 and 2021 — she told them to wait.
“I did something a little bit different than a lot of other agents did during the, what I’d say, ‘big boom,’ over the last two years,” she said. “I really educated buyers on not overpaying in the market. So, I did not advise my clients paying $20,000, $30,000 over list price.”
Buyers who felt hesitant last year are now looking for a new home while competition from other buyers is comparatively lower.
“I’m now reaping the rewards of being patient and really being honest with people,” Kyle said. “Because, like I said, people trust me more, because I tell them the honest truth about the market.”
She calls right now a sweet spot for buyers before interest rates climb yet again.
Forbes predicts the Federal Reserve will increase interest rates during their last meeting of the year, on Dec. 14.