Building You: Low housing inventory highlights importance of realtors

Published: Mar. 24, 2021 at 5:51 PM CDT
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WICHITA, Kan. (KWCH) - The local trade association for realtors cites a low inventory of homes in the market and the need to hire licensed realtors.

“Definitely a fun, very relevant industry for everything that is going on right now with our low inventory. It’s competitive when it comes to finding homes that are available to sell, and finding homes for your buyers,” said Sheila Rumsey, CEO of the Realtors of South Central Kansas.

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Posted by Lily Wu - KWCH on Wednesday, March 24, 2021

The local trade association represents approximately 2,300 realtors within four counties.

In their February home sales report, they show inventory of active listings in South Central Kansas stood at 733 units at the end of February, which is down from 1,614 homes that were on the market at the end of February last year. At the current rate of sales, this figure represents 0.8 months’ supply of homes on the market.

Arlan Newell is the board of directors president for RSCK and has been a realtor in Newton for 30 years.

He said it’s important to find a realtor if you are trying to buy a house right now.

“If you’re not with an agent, and finding out about something immediately, you’re going to be too late. That’s number one. And, number two, every transaction is a different transaction,” said Newell.

“There’s just all sorts of things that come up along the way, whether it be title issues or insurance or things that come up in inspection or low appraisal, so that’s why realtors are so important in that whole entire process,” said Rumsey.

Both agree this is a profession for those who enjoy the selling and relationship-building process.

“It’s an absolutely great career. Obviously, as a (former) teacher, I was a people person, too,’ said Newell. “You have to build a business. You have to meet people, be around people, have a good base of people that know you, love you, and trust you. That’s number one. Then, two, I’ve been in the business 30 years, this business is constantly completely changing. I always say that I have to work when everybody else is not working because that’s when they can go look at homes.”

To learn how to obtain a Kansas real estate license, click here.

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