One of the values that an agent brings to the table is their local knowledge of the real estate
market.
Is it up? Is it down?
Suddenly a particular financing can no longer be used on your home which makes it available to less buyers. There are many, many things to compile to become knowledgeable.
I pass all that information along to my sellers so they sell for more money & in a decent time frame.
That's what I do & what I work for with every client I represent.
One of the things that I noticed on doing the 2019 year end review was the vast amount of lender fees, points or 'mortgage help' the buyers are asking for in their home purchases. Following the sold & closed property everyday in nearby markets, I keep seeing $4000 and $5000 on many listings. This is also called 'seller concessions'.
In other words, the seller has made less money on their home than anticipated.
That's a big deal & here's why .... if the MLS is telling us that a seller in Hoffman Estates will receive on the average 97% of the listing price (that means 3% off list) then there is an additional $4000 to $5000 that the sellers did not anticipate. Also makes the seller stand more 'firm' on the price in case they do have to give 'mortgage help' to a buyer. There is no more margin for the seller. If they need to reduce their price in the futre - whoops, no more margin.
This will be changing the market coming up for spring & sellers should be made aware! I plan to advise my sellers of this new change so that we can come up with a solid strategy to still get their house sold. Get a good game plan & get them on to their new location.
I would welcome doing the same for you.
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