Recent Seller and Buyer Tips

At the moment, I'm working with 17 sellers and 16 buyers who are seeking to make a move in the coming months. With that in mind, I'm seeing a very fast market which is different than the last few years. Here are a few things that are working well for both sides of a transaction:

SELLERS

1.) Deep Clean, Touchups, Staging. This makes all the difference to make your home ready to sell for the most money possible. Talk to an agent who will go through your home and connect you with a handyman or contractors for the most cost effective repairs. For all of my listings, I am offering a no charge consultation with a professional stager. This isn't something all sellers choose to do, but it's a great option for some homeowners.

2.) Price appropriately (if you decide to shoot high, be ready to adjust after 10 days). There have been 1,144 price reductions on my market the last 30 days. It’s better to price correctly upfront to avoid lowball offers, no offers, or the perception your home has a major defect.

3.) Open Houses. They key with these is to have your agent funnel as many buyers as possible to be at the open at the same time. There are a few ways to do this, but the best is to limit showings before the weekend. This creates URGENCY often leading to multiple competing offers where the seller can pick the highest number with the best terms.

BUYERS

1.) Work with an experienced agent. Without guidance and expertise in this low inventory market, you have very little chance of winning. Even if you get a home under contract, you are at a huge disadvantage as you will have no one to advocate for you and will be negotiating against a professional negotiator (listing agent).

2.) Get pre approved from a local lender. This has to be step one. Some mortgage brokers are not trusted in the real estate community and your offer will be looked at poorly. When I list a home and get a prequalification from a non-trustworthy lender, the truth is, that offer goes below those with lenders I know can follow through.

3.) Look for off-market options. Work with your agent to find homes that are not listed or will be listed in the future. A savvy Realtor knows how to find listing before they hit the market and they can reach out directly to sellers in your preferred neighborhood to find your dream home.