Top Tips For Buying or Selling in Today’s Market
Homes selling above asking price, numerous offers for the same property – it’s no secret that the North Texas housing market is booming. To help you navigate these unprecedented waters, I’ve come up with some top tips for both buyers and sellers.
* Be Qualified. Pre-plan financing with a mortgage lender and receive a pre-approval letter…this is REQUIRED in today’s market to submit an offer. For a frustration-free experience with a good lender, ask your favorite realtor (me, of course) for some great mortgage contacts.
* Act Quickly. In a hot market, acting slowly or “sleeping on it” may cost you the opportunity to buy the home of your dreams. If you’ve found a home you’d be thrilled with, don’t wait to submit an offer; other buyers will likely be doing the same.
* Offer a Compelling Price. Sellers should be pricing their homes based on historical sold data, and in a strong market where prices are rising rapidly, homes are very often selling for the listing price or higher. Study the sold comps, but also compare the house you want to other homes currently on the market, and ask yourself, “What price am I willing to pay, and at what price am I willing to lose this house?”
* Market Effectively. You have the best chance of selling your home for the highest price by marketing it in a way that will appeal to the largest number of potential buyers. When you list your home with me, you get FREE professional staging and professional photography, which makes your home look it’s absolute best it’s ever going to look and will help keep it show-ready for buyers who come to see it in person. Also, my broker, Ebby Halliday, provides you with worldwide exposure on ebby.com, which receives approximately 21,000 visits per day, far outpacing our competition.
* Respond Quickly. There is an old adage that time kills deals. A buyer’s interest is at a peak level at the time he or she submits an offer, so keep the momentum going, choose the best offer, and respond promptly in writing. Many sellers want to wait over the weekend to see if multiple offers come in, and that may be a good strategy…when you sell your home with me, we’ll look at that as an option and decide what’s best for your house price and area.
* Don’t Be Greedy. If a buyer offers an acceptable price and terms, sign the offer and be a team player by working in a positive way with your buyer. Remember that most likely, you’ll be on the buying side too getting into your next home, so it’s always best to go with the Golden Rule and treat buyers as you’d like to be treated…this will ensure a win-win for everyone involved by getting the house sold!
Interested in looking more into the buying or selling process? Let me know and let’s get together soon!