Frisco Texas is experiencing a tornado of a real estate season. This happens when any market gets too hot. Whether a market is too cold or too hot it can cause problems for buyers and sellers. In this case there is just not enough homes on the market. Sellers may think this is a great situation but it does not necessarily work out well for either buyers or sellers.
Buying Feels Like a Lottery
In our current market, buyers are starting to stop shopping. Some of my clients have stopped trying to buy in the current market. After losing out on multiple offers over list price to other bids, buyers start getting upset. When you have clients willing to submit over list price offers to get a home and still coming up empty the frustration mounts. We could use some unethical tactics that I have seen in use but once someone breaks their ethics where will they stop.
This is not for all homes. Many for sale by owner homes sit and wait. Even homes represented by agents can sit and wait. This occurs because houses that are not prepared well (remember the 3 Ps of Selling your home) do not get offers. If your home is still not priced properly, presented frequently and prepared properly are still not getting sold as quickly. When buyers are thinking they have to pay over list price to get a home, their demands and expectations increase.
Not Every Home Enters The Tornado
Then there is the other side to this where the sellers are not going to do a thing regarding repairs or preparation. As a seller if you want top dollar and you want it sold as quick as you hear of homes getting sold then you have to be willing to invest your time and sometimes money to get those results. Showing your home improperly loses your advantage of a seller's market. The big advantage in this type of market is the first week on the market. Getting properly prepared is a challenge and if you don;t understand the market, and process you could be leaving tens of thousands of dollars on the table.
Work With a Realtor®
To better secure your success, a professional Realtor® can really earn their money. If your real estate agent simply puts it on the MLS or if that is what you think, then either change your agent or ask questions and start interviewing agents. Understanding the market and even the subdivision can be very important. Evaluating the competition on the market is a key to how well your property will show. Knowing the selling prices of similar homes in the area and the trend of going up or down can be the difference between getting an offer or sitting on the sidelines.
Offers in Hours
My last listing in Frisco was listed under $400K. I worked with the dream sellers. They listened, asked questions and then made things happen. We followed the strategy we set up and ended up listing the house on MLS with proper pictures and staging. It actually hit the MLS at 4:00 PM. By 6:00 PM I had in my hands, already delivered, our first of 7 offers (5 over list price.) This is another reason why you should use a Realtor for purchasing a home. By the time this home showed up on some major public boards, we were already working valid and strong offers.
When you decide you want to buy or sell a home in Frisco, find out what my clients have found out: when you work with me, Your Success is My Focus
For more information about Frisco and the current perfect real estate storm check out this post - Frisco Texas - The Future's So Bright