Contributed by Teri Moylan, Broker/Realtor®
I was talking with a friend and the topic (as it almost always does) turned to real estate. She mentioned that she knew of someone who was in a challenging scenario where she wanted to sell but had the feeling she could not sell unless she put a tremendous amount of work AND MONEY into her property.
Her property had synthetic stucco and as a result, the siding needed to be removed and replaced with an alternative type of siding, windows needed to be replaced, and there were a variety of other related issues.
She was under the impression that her property “couldn’t” be sold because of challenges to finance the property.
In this case we found 11 buyers within 72 hours. I spent time with the seller discussing the “type” of buyer that would be the most likely to purchase her home and we priced and marketed the property to reach the right audience.
Real estate is always impacted by what is happening nationally and globally. And yet, it’s still a local thing. And here locally, we are in a seller’s market. Keep in mind most seller’s markets happen because it’s a great time for buyers to purchase – think low, low interest rates!! And when sellers want to sell and buyers want to buy, regardless of the market you’re in, you need an agent that knows THAT market.
Can sellers list their home today and get instant offers? It’s highly likely. But it’s also important that they are receiving the “right” offers.
Understanding what kind of financing this property would or would not qualify for, knowing what potential challenges might arise in different types of inspections, having upfront estimates for repairs needed – all of that allowed us to market and receive the right offers, not just any offers.
So a house priced right for its condition can sell. Period. But when it’s priced right for the condition and we tell the right “story” of your property, the process is easier and with a better outcome. My seller understood that, and in the end was so appreciative of the efforts we made to reduce the showing appointments of buyers who wouldn’t be able to move forward and maximize the showings for the buyers who could bring an offer and carry through with that offer.
By the way, a seller’s market doesn’t just mean that sellers need the agent who knows how to negotiate on their behalf. It’s also a time when buyers need an agent that understand the seller’s perspective.
Just as my seller knew we needed to tell the right story of her home, buyers need an agent in a competitive market that can tell the story of their offer! Price is important but it’s not always just about price. There are a lot of terms that can be negotiated to give you the best chance of your offer being the right offer for any given seller!
So for buyers and sellers both, our current market requires a lot of education, trust and diligence. It’s important to find an agent that understands that as well as how to tell your story so the next chapter in your life can be written.