Redfin: Home Sellers Outnumber Buyers
Redfin has released a report showing that home sellers outnumber buyers by the largest margin in 12 years. There are currently 34% more sellers than buyers in the U.S., making this a buyer’s market. Redfin expects house prices to drop 1% by the end of the year as a result.
For condos in particular, there are 83% more sellers than buyers. In comparison, single family homes have 28% more sellers than buyers.
There are an estimated 1.9 million home sellers and 1.5 million homebuyers currently in the U.S. housing market. In other words, sellers outnumber buyers by approximately 33.7%. This is the largest gap on record, with data going back to 2013. Just one year ago, sellers only outnumbered buyers by 6.5%, and two years ago, buyers actually outnumbered sellers.
From Lead To Lease: How 901RES Places Quality Tenants
At 901 Real Estate Services, we don’t leave leasing to chance. We’ve developed a hands-on, highly attentive process that ensures each prospective tenant is thoroughly vetted and fully supported every step of the way. Here’s a behind-the-scenes look at how a lead becomes a lease:
Inquiry Submitted → Prompt Follow-Up
It all starts when a prospective tenant submits an inquiry on one of our vacant properties. From there, they’ll receive a text and email to schedule a showing through Tenant Turner, our self-scheduling platform. If they don’t book a tour right away, we follow up directly via text and/or a phone call to help them schedule. Tenant Turner also pre-screens leads to make sure they both credit and income qualify for a property.
In-Person Showing with a Leasing Agent
Each tour is agent-led, never self-guided. Our leasing agents walk the lead through the property, highlight important features, and point out any amenities they might otherwise miss. This face-to-face connection gives us an early sense of the prospective tenant and allows them to ask questions in real time. If the property they see isn’t a good fit, we tell them about others we have available and schedule their next showings.
Application Link & Follow-Up
Immediately after their showing, applicants receive a link to submit their rental application. But we don’t stop there — we reach out again to check in, answer questions, and help with the process. This touchpoint often gives us insight into the seriousness of the lead or any hesitations they may have.
Rigorous Application Screening
Our application process is more thorough than other property management companies, and for good reason. We’ve dealt with fraudulent applicants before, and we know how to spot red flags.
In addition to standard income verification and credit checks, we:
- Review court records for evictions that may not show up on credit reports
- Scan social media to verify identity and check for inconsistencies
- Ensure that the information given by the applicant matches what was provided during the showing, including making sure the applicant’s ID is indeed the person who saw the property
- Conduct deep online searches to confirm application details and spot red flags
This diligence can be time consuming, but it helps us protect our owners from costly tenant issues down the road.
PetScreening Profile Completion
Once approved, every tenant completes a PetScreening.com profile, whether they have a pet, a service animal, or no animals at all. This provides a legal and consistent way to document pet-related information and set clear expectations on pet policies.
Lease Signing & Deposit Payment
After the screening is complete, tenants sign their lease and pay their security deposit. Only then is the property officially taken off the market and marked as leased.
Pre-Move-In Inspection
Before move-in day, we conduct a thorough inspection of the property, including photos and documentation of any existing wear or maintenance concerns. We check to make sure every appliance works and that the home is move-in ready.
Move-In Day: Keys, Forms, & A Warm Welcome
On move-in day, tenants either meet us at our downtown office or at their new home. They sign any final forms, receive their keys, and we hand them a welcome bag with helpful household items (the kind they might not have unpacked yet) and a few small goodies.
They also receive a Move-In Inspection Form so they can document any issues that may not have been caught during inspection or only become obvious after settling in. This protects both tenant and owner and ensures transparency from the start.
The Result? Better Tenants & Smoother Tenancies.
Our detailed tenant onboarding process helps us place reliable, responsible tenants — and sets the tone for a respectful, well-maintained tenancy. It’s just one more way we protect your investment and deliver peace of mind.
Behind The Scenes at 901
We’re proud to share that our Broker/Owner, Kendall Haney, was recently featured on the cover of Memphis Real Producers magazine. The article highlights Kendall’s decades of experience, his leadership in the Memphis real estate market, and his commitment to excellence that continues to guide 901 Real Estate Services today. It’s a well-deserved spotlight on someone who has helped shape the local industry and continues to inspire agents, investors, and property owners alike.
