Most people (including some Realtors) think that the Real Estate market stops as soon as Thanksgiving comes and resumes again after the Christmas Tree comes down and we are well on our way into spring. The market certainly takes a bit of a break from the usual tempo, but it doesn’t stop. In fact, the week of Christmas this year I showed nearly 20 homes to a serious motivated buyer. But, to underscore my point, only one listing agent called me to get some feedback! Just one!
When I woke up the other morning, I was a bit surprised to see how much snow had actually fallen and how hard it was still coming down. As I warmed up my car and shoveled the walkway, I noticed something- cars and trucks were driving by as they usually do with exception to some added caution. They were driving to work regardless of the snow covered icy roads because they HAD TO.
Not unlike weary drivers on dangerous roads, many buyers and sellers who are in the market today are there out of necessity; Marriage, divorce, relocation etc. Some buyers are however are just trying to catch a weary seller off guard, but if the home they wind up offering on your home, they are very serious and very motivated! Don’t miss this opportunity as a seller to be one of the few who can start the year off by selling your home and positioning yourself as a ‘non-contingent’ buyer.
Get your price right! When buyers are out shopping, they are looking for value and since they’ve seen over 20 homes in your area, they know a good buy when they see one. Lowering your price now to capture motivated buyers or lower it later to chase them down once they’ve left (expect to go lower to get them offer). If you wait for prices to come back up guess what, you’ll be next in line to pay for a home where prices are higher too. Make sure your house has the 5 Rights in order.
Accommodate showings. When a motivated buyer wants to see a home they want to see it now! Obnoxious, yes, but true. Re-scheduling a showing is as good as not showing it at all. Keep the house tidy and ready to show at all times and since you know you are priced right, it will only be a matter of time before the phone rings.
Don’t over negotiate! A good buyers agent is going to set up his buyer client for a counter offer from you. For example, if your home is listed for $250k, expect that an offer of $225k is anticipating a counter from you somewhere near the $230-240k price. If they come back at you again with a counter offer, think long and hard about your decision. In fact, think of your home as sold but if you don’t sign the paperwork, you are buying it back from yourself.
Remember your medium/long term goals! If you don’t have any, get some quick! When you have your list of goals, it is easier to see the big picture - moving up into a larger, nicer home - relocating closer to work - getting out of your fixer into a new home. If taking a bit less on your home now seems challenging, look at the fact that you are going to be the buyer soon and you can take advantage of some of the best inventory selection and interest rates that we’ve seen in a long time. Taking one step backward to take two steps forward is possible if you see the sale of your home as 1 part of a 2 part transaction.
Winter buyers are motivated!
Because springtime usually picks up the market, buyers want to get in before prices go back up and so should you! Take advantage of low interest rates not just for lower payments, but for larger purchasing power! Get yourself out of the sellers seat and into the buyers seat where it’s more attractive. If you are thinking about selling, don’t wait to see what the market is going to do, because once it’s done it, you’ve missed it.
We can analyze the market for you!
If you are thinking about selling, don’t wait to see what the market is going to do, because once it’s done it, you’ve missed it. Give me a call and I can see where values are in your area and help you develop a winning strategy to get buyers braving the icy roads to come see your bargain! I work relationally not transactionally, and can help you and your family achieve your goals!
Read this article at it's source: ICY Roads can help you Sell: 4 Tips on Selling in the Winter