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Whether you’re a buyer or a seller, there are three tips you need to know to succeed in today’s market.
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In today’s highly competitive real estate market, where inventory levels are not keeping pace with the constant stream of buyer demand, there are three steps you can take to ensure you’re most prepared for success when buying or selling a home. These tips come from a fellow real estate blog called “The Skinny on Skinny Inventory.”
First, be prepared. If you’re buying a home you should talk with a lender and a Realtor before even looking for a home or making an offer on a property. Being intentional, pre-approved, and prepared will set you up for the accelerated time tables that come with a highly competitive market. If you’re the most prepared buyer, you have a readily secured financial approval, and you’re ready to move fast, your bid will be much more attractive to sellers than others.
If you’re selling your home, you want it to be in show condition before it even hits the market. Also, be prepared for showings the first day it’s listed.
Finding a way to stand out from the crowd by getting creative will improve your chances of getting the home you want.
Next, think strategically. If you’re a homebuyer and don’t have a home to sell but can be flexible on the closing date, this can help your offer stand out. If you’re a buyer who needs to sell your home, your first step should be listing your home with a real estate professional before looking for a home. This process can be smooth with the right real estate agent guiding you.
Lastly, seek out the ugly ducklings. Consider looking for homes that have been on the market for a while and then investigating why. The reasons might be a deal-killer, but it only takes one ugly duckling to turn into a swan. Finding a fixer-upper or a home that needs a little love might be your best option to guarantee that you find a home in the neighborhood you want. The worst home on the block will go for a steal or below market value and offer instant equity once you fix it up.
If you’re a seller, regardless of your home’s condition, know that there’s a buyer out there for every home. By pricing your home under its current market value and having a strong marketing and advertising plan, you home will get sold.
In today’s market, finding a way to stand out from the crowd by getting creative will improve your chances of having a home to call your own.
If you have any questions about succeeding in the market or you’re thinking of buying or selling a home, please don’t hesitate to give me a call. I’d be happy to help you.