Why Real Estate Experience Matters When the Market Changes

Lessons from the Great Recession and what they mean for Spokane-area buyers and sellers in 2026

By Josiah Boone | October 22, 2026

Real estate markets have a way of changing the rules just when everyone becomes comfortable with them. Real estate experience can help buyers and sellers recognize when their strategy needs to change.

A few years ago, buying a home in Spokane often meant competing against multiple offers, making quick decisions, and sometimes paying more than the asking price. Sellers could frequently expect considerable attention and offers within the first few days of listing.

Today’s market requires a different approach.

Buyers are taking more time, affordability remains a challenge, and sellers are discovering that yesterday’s pricing strategy generally doesn’t produce results.

These changes raise a worthwhile question: How much does experience matter when selecting a real estate broker?

Not Every Broker Has Experienced a Difficult Market

According to the National Association of REALTORS®’ 2026 Member Profile, the typical REALTOR® has 13 years of experience and completed nine transaction sides in 2025. A transaction side represents the buyer’s or seller’s side of a sale, so it is not necessarily the same as a count of distinct homes sold.

That suggests a typical career beginning after the worst of the 2008 financial crisis, although a median does not tell us every broker’s work history.

This doesn’t suggest that newer brokers are less capable. Real estate is full of talented professionals who entered the business more recently.

But there is an important difference between studying a difficult market and having helped clients make significant financial decisions while living through one. There’s also a difference between having participated in a handful of transactions each year and having navigated hundreds of purchases and sales across multiple market cycles.

Having worked in real estate for more than 22 years, I’ve had the opportunity to guide clients through hundreds of transactions while witnessing several substantially different market environments.

Each came with its own challenges, opportunities, and lessons.

Lesson 1: Pricing Is a Strategy, Not Just a Number

During periods of rapid appreciation, a seller can sometimes price a property aggressively and still attract strong interest.

A slower market is less forgiving.

I’ve seen how quickly an overpriced listing can lose momentum. Buyers begin wondering why it hasn’t sold, the property accumulates days on market, and eventually the seller may feel pressured to make a larger price adjustment than might have been necessary with a more disciplined initial strategy.

Experienced brokers understand that pricing isn’t just about comparing recent sales.

It’s also about evaluating competing inventory, buyer behavior, financing conditions, property characteristics, and the seller’s objectives.

The goal isn’t necessarily to achieve the highest asking price. It’s to develop a strategy that produces the best achievable outcome.

Lesson 2: Negotiations Require More Than Knowing the Asking Price

One of the lessons from difficult markets is that the terms of a transaction can sometimes be just as important as the price.

For buyers, opportunities may include negotiating seller-paid closing costs, inspection repairs, financing concessions, or additional time to complete due diligence.

For sellers, a strong offer isn’t always the one with the highest number attached.

Financing strength, contingencies, earnest money, closing flexibility, and the buyer’s ability to perform all deserve consideration.

Navigating transactions through different economic environments develops an appreciation for what can go wrong and how thoughtful contract terms can help reduce unnecessary risk.

Lesson 3: Market Conditions Change, but Fundamentals Still Matter

The Great Recession taught the industry some difficult lessons about lending, leverage, affordability, and financial risk.

It’s important to recognize that the circumstances surrounding today’s housing market are substantially different from those that produced the 2008 crisis.

We shouldn’t assume a housing crash is coming simply because buyers have gained negotiating room or homes are taking longer to sell.

Instead, those previous experiences remind us to evaluate the fundamentals.

Can the buyer comfortably afford the payment? Does the property meet their long-term needs? Is the asking price supported by comparable sales? Does the seller have enough flexibility to respond to changing conditions?

Lesson 4: Sometimes the Best Advice Is to Wait

Real estate professionals are paid when transactions close. That creates an important responsibility to distinguish between encouraging a transaction and providing sound advice.

There are times when purchasing a home makes sense, even in an uncertain market.

There are also circumstances when a buyer should reconsider the property, adjust their budget, or wait for another opportunity.

The same applies to sellers. Depending on their circumstances, making improvements, changing the pricing strategy, renting the property, or delaying the sale may deserve consideration.

Experience doesn’t eliminate uncertainty. It can, however, provide a broader framework for understanding the available choices.

What Does This Mean for Spokane Buyers and Sellers in 2026?

Spokane REALTORS®’ September 2026 report recorded 536 closed sales, a median closed price of $419,995, and 1,620 active listings for site-built homes and condos on less than one acre in Spokane County. The report includes sales reported through October 7, 2026.

Meanwhile, Realtor.com’s September market reporting showed more active listings than a year earlier and longer marketing periods.

These figures suggest that today’s buyers and sellers need a more deliberate approach than they may have needed during the unusually competitive pandemic-era market.

For buyers, that means understanding where negotiating leverage exists without assuming every seller is desperate.

For sellers, it means recognizing that properties can still sell successfully, but pricing, presentation, marketing, and flexibility deserve careful attention.

Conditions also vary significantly by neighborhood, property type, and price range. A well-priced home in Colbert or Mead may face different competition than a luxury acreage property or a home in central Spokane.

Local market knowledge and experience navigating previous market cycles can work together to help clients make more informed decisions.

Experience Should Be Measured by the Value It Provides

Years in the business aren’t a guarantee of better representation.

What matters is whether a broker has learned from those years and can apply that knowledge to the circumstances facing the client today.

After more than two decades in real estate, including the Great Recession, the recovery, and several different market cycles, I’ve learned that good representation isn’t about predicting the future with perfect accuracy.

It’s about understanding the risks, recognizing opportunities, communicating clearly, and helping people make decisions they can feel confident about long after the transaction closes.

Considering buying or selling in Spokane, North Spokane, Mead, Colbert, or Green Bluff?

I’m always happy to discuss what we’re seeing in the local market and how those conditions might affect your particular situation.

Josiah Boone | Windermere Real Estate | Boone Real Estate Services

For more on evaluating representation, see Choosing a North Spokane Real Estate Agent: Questions to Ask.