It’s A Sellers' Market

It’s A Sellers’ Markett’s a Sellers Market – Tips for Buyers & Sellers

It’s a sellers’ market! This is great news for sellers, while buyers need to act quickly to get the home they want. In a sellers’ market, there is a higher demand for houses than what’s on the market. This drives up home prices and leaves buyers competing for homes.

Whether you’re considering buying or selling, don’t sit still. There are ways that both sellers and buyers can meet their needs.

If you’re a buyer:

• Be ready to act quickly. If you’re looking when it’s convenient, you might miss out.  If your realtor calls with a lead or a new property that hit the market, don’t hesitate; check it out quickly.  
• Be prepared with paperwork. Having a pre-approved mortgage letter on hand will enable to you act quickly and effectively when you need to make an offer.
• Put in an aggressive offer. Or before you know it, someone else will. There’s no lag time for buyers in a sellers’ market.
• Consider an offer with no contingencies. Sellers are looking for strong, qualified buyers who make getting to settlement smooth and easy.
• Consider writing a letter to the seller. Introduce yourself (and your family, when appropriate). Share what is special about the house and why you would be a good fit. We all have, to some degree, an attachment to our houses. Personalizing the experience can go a long way.

And for sellers:

• Find a good agent and price it to sell. Utilize your realtor’s expertise and advice in pricing your home with respect to comparables, along with market trends and conditions.
• Don’t lag. Seek a realtor, set a price, list it — and don’t waste time when you receive offers. The longer a house sits on the market, the less likely you will get top dollar. Remember you’re in a seller’s market and buyers are competing for homes. Take advantage of the conditions and make it a quick, smooth process.
• Last but not least, enjoy the ride! Your home is one of your greatest (if not the greatest) assets. Let it work for you.

If you are considering selling your home, NOW IS THE TIME! Call me and we’ll get the ball rolling for you.

(Adapted from Realtor.com® “Top Tips for Home Buyers and Sellers in 2016”)

It’s A Sellers’ Market – Tips for Buyers & Sellers