Optimism for Winter Buyers, But Why Are Some Listings Being Pulled?
As my listing inventory continues to grow and I am running around with more buyers, I am optimistic about the last 6 weeks of the year. Momentum is gaining. I don’t understand something: Why are agents taking their listings off the market until after the new year?
If It Is Not Listed…..
The home buyers that are out there looking right now are among the best qualified and most motivated. If the home is not on the market there is no opportunity to show it to them. Market time numbers are what they are and there is no way to hide it. Taking something off for 45 days is not going to make the property worth anymore in January or February. Based on reports of a new influx of short sales and foreclosures coming on the market in 2010 it could be worth less. Residential resale pricing is going to continue to feel the impact of distressed properties as well as ongoing price reductions by developers to get their product sold.
According to the Illinois Association of Realtors, 37% of homebuyers are relocating to Chicago. They are not putting off their home search. They look at what is on the market when they are in the city. If you remove your listing, you are missing one in three of your potential purchasers. 45% are first time homebuyers. When this buyer closes on their home there is probably someone who has to move quickly to move to their next home. None of these people are concerned if it is the holiday season or not and they will buy.
With very little inventory coming on the market right now this is your best opportunity to sell your home at the best and highest price for what the market will bear. If your home is not listed there is no opportunity. Buyers and agents will not look a home if they do not know it is for sale.
I am feeling a sense of defeat from some agents who encourage their clients to remove their homes from the market because they have decided it is going to slow. Being a professional Realtor® is like being a professional ball player. If you take your eye off the ball for one second you miss the pass and can lose the game. Real estate is a 24/7, 365 day a year business. I do take vacations but I always make sure I am covered. I am sure there are many agents out there who would be happy to service your clients. You cannot sell a secret!