Timing the Market

When it comes to buying and selling your home, it’s all about timing! We’ve all heard of the two phrases a “Buyers Market” and a “Sellers Market. The big questions then arise, when do they both take place during the year? How will I know it’s a good time to buy? Or how will I know when it’s a perfect time to sell and get the most for my home?

Buyers Market

Also known as a “Cold Market.” This is when there are more properties for sale than buyers. You will see that the prices will drop due to the lack of buyers in this time period. The people that are interested in buying in a cold market will be looking for great deals on homes, and will be looking for homes that offer great discounts. During this time period you can and should make lower offers. It is a great time to purchase a home but if your looking to sell stay away from this time of the year.

Sellers Market

This is what is called a “Hot Market.” When there are more buyers than properties listed. You will see rising prices and eager people ready to buy! There is a lot of turning down low offers in this time period because of all the interest. Sellers will choose the highest offer received. This is the absolute perfect time to sell, while the market is hot!

So, When is it The market hot or cold?

Research has shown that more people are interested in purchasing a home when the weather is nice. What better time of the year than the months from July to September to do so. During these months people are very excited to search and see what’s out there, and are very motivated to buy. This is what would be considered a hot market!

Another tactic is to list and try to sell your home before the crazy rush of summertime. In early spring, sellers have found a lot of success listing their homes on the market before everyone else does. Getting your listing on first can make a big impact on the potential buyers that will be looking for a house in the months to come.

You may also try listing your home at the end of summer when everyone who was frantically looking for a home is finally ready to decide. When buyers are ready to make a purchase they review the newly listed homes and are very motivated to make their decision including newly listed properties.

In conclusion

Sellers- wait to list your home when the weather is warm and the market is hot. Your home will be purchased for the price and value it deserves.
Buyers- be prepared to buy a home when the market is cold and listing prices are low. Get as much as you can for your money and don’t be afraid to make low offers.

5 things to know when choosing a Real Estate Listing/Sellers Agent

Is it time to sell? Is it your first time making the move because of work relocation or you already found another home you plan on buying? You might have friends that may try to convince you that you can sell your home without an agent, since you have a great location for home buyers. When they mention the percentage of commission fees, the thought of giving that amount of money to a stranger to sell your home that you worked so hard to pay for is mind boggling. You may think they are not worth it but in fact, unless you are an agent yourself you could be losing money that you didn´t know could be lost if you don´t hire one.

Selling homes is all about good timing with regards to the current sales market. Buying a ¨For Sale Sign¨ at your local Walmart to wait for someone to drive by is not exactly your ideal sales tactic. No doubt this will just make more people wonder why it hasn’t sold giving your home a bad reputation. However, that’s why we have real estate agents with all the resources available and know the business to sell your home for what it deserves. Let us consider a few things before you make a deal with your new sellers agent.

Take Time to Do your Research

The faces of Real Estate agents are combined in our mail and stare at us on the freeway. Sometimes when we deal with ¨high rollers¨ we might just end up being a client number to them than an actual person. Start being observant if there are other houses in the area that are up for sale. Take note of the real estate agent as all their contact information is free for all to see and go to their website where you can see their marketing skills and see the other homes they are selling or the ones they have sold. Ask your family, friends and neighbors if they at one time dealt with a real estate agent and get feedback on how their transaction turned out.

Take Time to Talk to your Potential Agents

We may feel pressured to just make the deal with the first person we meet as they offer us all of what we want to hear.  However, it doesn’t hurt to go to different companies and ask them a few questions to get the feel if they are suited for you. But you don´t want to interview agents from the same company. For the first meeting, either talk to them over the phone or meet them at the agent´s office. You wouldn´t expect a top agent to necessarily meet you at your home to give you free advice before you make the deal with him. Additionally, as you talk to the agent to assess his experience in the business, his average list price to sales price ratio, marketing plan, how much he charges and what kind of guarantees he can offer; an ideal agent will be assessing your potential also as they are just as selective about their clients too.

First impressions are lasting

Real estate is a business and you deserve an agent that will treat your life´s work with the respect it deserves. How he or she dresses is a huge indicator. If they are dressed down it doesn´t show they are serious for the job at hand. Also paying attention to their body language and confidence is a huge factor when making deals with buyers. Are they confident to feel at ease in front of you or do they seem nervous? If they do, it´s better to leave it to you to do the sales talk. Your agent will give you the respect you deserve by dressing for the occasion, obviously show he is knowledgeable, at ease when speaking with you and will take the time to explain all your questions honestly.

Marketing Skills is a Must

If an agent is still using a non-smart phone, don´t even say hello. Your ideal agent should offer an extensive marketing campaign. It may involve a combination of direct mail, advertising, networking and online publishing to show virtual tours. You want an agent who has the ability to give your home the greatest exposure. This is why you hired an agent because you don´t have the resources from the world of real estate and they do. You will be super impressed when they tell you how to stage or prepare your home to sell. You will end up thinking why didn´t I do that before. They give attention to detail you never thought of and that just reassures you that you do have an ideal Real Estate agent.  No doubt if they have the right networking, your home will be sold very quickly than you expected it.

Charisma is the Key

You just can´t resist! Successful agents have the natural ability to influence others by their charisma. If it was hard to say no to your agent when he gave you convincing and valid reasons of an issue, how much more when he starts to negotiate with the buyers. You want someone who has a quick mind, maintains the upper hand during negotiations and is loyal to your interests while selling your home for the highest price possible in the shortest period of time. As your agent showcases your home he should have the ability to highlight your home´s strengths while downplaying its weaknesses.

Although your home that you are about to put on the market very soon is one of sentimental value and you feel that it’s the best in the area, leave it to a Real Estate agent with the right abilities who will no doubt give what your old home truly deserves.