The real estate game has gone tougher this year with the low inventory and homes selling fast like hotcakes (for about 20-40% above the asking price!). It's no doubt a seller's market this year and agents commonly go through a bidding war given the low supply and the high demand. We have new agents who just boarded the ship and they may find the business in a hardscrabble season; so to keep them, and the tenured realtors motivated we researched for top tips on how to help our buyer clients around the current seller's market. Realtor Magazine published in April the article, " and we picked out 3 as our top best practices to keep in mind.
1. Stay on top of your game. Clients no matter what the current market is will always want the best agent to represent them. Your expertise and experience will play a big role to stay competitive for them. Keeping tabs on new listings, and being proactive and consistent in communicating with your clients are your keys to success.
2. What can you do to sweeten the deal? Run the extra mile, add value by doing something to make your client's offer stand out. Google and adapt proven strategies that will help your clients win.
3. Get creative with your long game. Build your network, establish a relationship with the businesses in your community, and be involved with business organizations. We recommend cultivating an exclusive relationship with builders. With new construction homes on the rise, you can help builders create highly desirable homes that meet your clients' needs by acting as a link between the expectations you gather from home buyers and the features builders are including in their homes.
This article originally appeared in the Realtor Magazine, April 2021, 6 Tips for Guiding Buyers in a Seller’s Market
If you are planning to become a homeowner this year, these three facts about fall real estate will help you make an informed decision.
Image by Jens Neumann from Pixabay
1. Price Fluctuations Zillow reports show that around the same time last year, there is a 4.1% increase in the median home value in the USA. With Coronavirus coming into the picture, fall may see home values drop across the board, causing a bottleneck in the housing sector. While prices are forecasted to decline, experts believe that it to be temporary, and the housing market will see a sooner increase in some areas due to the restrained demand. Given the housing situation, the question for many homebuyers remains, is it a good time to buy a home? Yes, the fall real estate market may be the perfect time to be a homeowner.
2. Low Inventory.
The low inventory levels limit the housing market from optimizing its potential; there are not enough homes to keep up with the demand. Distinctly, new construction homes are becoming more popular and are adding to the supply of housing inventory. For homebuyers who are looking for green and energy-efficient dwellings, the new construction projects would be their best option.
3. Low Mortgages. The Federal Reserve announced that it is going to keep the mortgage rates low for the next few years. As of August, a 30-year fixed-rate mortgage carried an interest rate of 2.94%, according to Freddie Mac. Although buyers aren't sure how long rates will remain this low, today's rates are saving homebuyers a lot of money over the life of the loans and allowing them to buy more house!
For most people, moving from one home to another can be wearisome. Scheduling your move is one great way to make the experience a smoother and happier one for you and your entire family.
When is the best time to move? Many people will say that summertime is the most ideal time to pack your bags and call your movers; we agree!
The long days and abundance of daylight make it more manageable to move in and out of a home, especially if you are not hiring a moving company. Moving in the summer means no school will be disrupted if you have kids and that could mean an extra set of hands to help with the packing and moving.
Summertime is selling season in many markets, so as the sun heats up, so does the housing market.
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