• May 26, 2018

When the Local Market Becomes a Seller’s Market


When the Local Market Becomes a Seller’s Market

If your local market drastically shifts to favor sellers, you should contemplate listing your home if you already had plans to relocate anyway. The cash you make from selling during an ideal sellers’ market can be invested towards upgrades and improvements that can be used to improve or purchase a new property.

Knowing the Difference

Determining the right time to sell is often thought to intimidate to a first-time seller. In some cases, those more experienced home sellers can be deterred from selling as well, due to the anxiety of making a mistake that could cost them. With a few pieces of information, you can be in a better position to sell to make a larger profit. The most significant knowledge for a seller is to recognize when the market is in their favor.

The Buyer’s Market

The first step to selling homes quickly and effectively comes from being able to know the difference between a buyer’s market and a sellers’ market. The time for buying and selling is determined by the supply and demand of the market and often varies over time. A buyers’ market occurs when the supply of homes outweighs that of the demand. It might be less favorable to sell a house when supply is so high, because it may take significantly longer to sell. Consider speaking to a real estate agent and ask them if it’s the right time, especially if you don’t have much experience with selling a property. Remember that waiting for a more opportune moment is not necessarily always a bad option, so expert advice might benefit you more than you know.

Is the Market good for selling?

According to CNN, reports of the 2017 market has been very advantageous for those looking to sell the property. Results have been considering similar in 2018 as well. House’s on the market are selling quicker. Compared to January 2018 records, houses are selling 7% faster and have an overall average of being on the market for 79 days now. Keep in mind these numbers may vary depending on your local market, so be sure to contact your local real estate agent as soon as you can.

Tips and Tricks

Just because the market is in your favor, doesn’t mean there won’t be competition. Listen to your real estate agent and don’t overprice your property. It is more likely that buyers will move to the next property rather than overpay for a property that is out of their budget. Be optimistic, but also be realistic. Selling properties can be a process that requires patience. If you are struggling to sell after an allotted amount of time, it may be time to come up with a new plan of attack. Minor repairs can also go a long way. Be sure to maintain your property so that it meets standard guidelines and is as presentable as possible.

So, remember that if the market is in your favor try to act as quickly and intelligently as possible. Determine if it’s the right time to sell for you. Find yourself a real estate agent and ask a question and listen to their advice. Real estate agents are there to help you, so take full advantage and utilize their advice!

Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/