It was similar in 2004-5 here in NH. The key is listings, get them and treat them well and they come back. They refer everyone they know and listings bring listings. When it switches to a buyers market, the discounters and lack of service will be gone as sellers look for those who can take care of them and sell their home 

Sheldon,

Fundamentally, I see the real estate agent as a calming influence, especially in this crazy or any other market.  Emotions in high in a frenzied situation on both the buyer's and seller's side. A

There's never been a market like this one in my 22 years, but there have been many, many similar and in fact, except for the 200 Dot.Bomb months and the years of  2007-2011 during the market crash, it's been a seller's market in CA since 1998. So this is all normal to me, but more intense because of the lowest rates in history.

Organization and communication are key with your buyers and sellers and promoting facts to squash fears. You must know your market & your numbers.

The key is having a buyer that is ready, willing, and able...that  "gets it"

Buyers have to be willing to submit clean offer, with aggressive terms.

Eve

Sheldon I've been in this industry for 34 years so yes I've been through other similiar markets.  I have always continued to do what I've done for years. Focus on my SOI which is my biggest source of referrals. Consistency is important on whatever you chose to create.

What kind of previous Seller market are you referring to?

Real estate is local.

My seller market may not be anything like your seller market. 

you bet & you've got to be tough as you have alot of competition. What I have not experienced now that I did in the past was sellers trying to slice up your commission. Maybe it's the pandemic, but it's good news.

What is your biggest challenge in the seller's market, Sheldon Haywood ? That might help responders to focus on what you're actually looking for in terms of advice.

This is the most intense seller's market I have been in.  However, the same important things apply:

1.  Having an incredible network of agents that want to work with you

2.  Not being afraid to write letters, door knock or whatever to find the home for your buyer if they are very specific about what they want in terms of location and model.

3.   Being straight with your buyers about what it takes to get under contract.  Right now, our jobs as buyer's agents is like being an EMT on the scene of a gun shot wound to the chest.  That job is to get the person to the hospital alive.  Our job is to get the buyer into the house so they get a super low interest rate.  We can't advise them to go for every protection in the contract along the way if the goal is to win the bid and get the home.

I've seen several of these and several strong buyer's markets.

I look at everything as a buyers market since it is the buyers that run the prices up and it's the buyers that run the prices down.

We have been in this one for quite a while now, I like it.

Property is worth what's it's worth. Some sellers overprice, and some agents list high. It really doesn't matter. The current buyers will dictate what tht final sale price will be. Demand can drive prices up, but it doesn't always drive values up. What I see is desperate and frustrated agents slapping together garbage offers with missing initials and signatures, ridiculous contingencies, etc for desperate buyers. Stay calm and proceed, things will balance out again.

There was previously the 'greedy sellers' market of 2005 and today the conservative sellers market. One was created by Bank of America's fake money, the other by a necessity. Now what one can do is compare today to the 2010 market, the one following the foreclosures. Uncertainty was to gold of the realm.

Empowerment, anonimity and the opportunity to be heard are very motivating factors in getting the 'haven't mets' to raise their hand. 
I will offer idea on filling the pipeline and of course you know that must be followed by cultivation.
The low hanging fruit and quickest to implement exists in the opportunity to be heard. Use direct response marketing utilizing a survey regarding the community or real estate (NOT BUYING AND SELLING) for which you NEED to hear their concerns.
People really do want to help but are rarely giving the opportunity.
This is a good time to partner with a local merchant to agree on a way to acknowledge participation.  Be sure in implement a tracer mechanism allowing you to identify who redeemed your participation offer.