Selling a house in a HOT market
Real estate markets change, from time to time, and it is prudent to recognize these differences and warning signs and prepare effectively for each one. Different strategies and procedures are needed, depending on a number of conditions, including the overall economy, mortgage interest rates, the local market, whether it is a buyer’s or seller’s market, and how fast and/or slow , homes are currently selling and at what price level. We often refer to buyers’ markets as cold because there is little action and prices and potential buyers plummet. On the other hand, a HOT market, is, in general, a seller’s market, because the number of qualified potential buyers exceeds the number of properties for sale and, therefore, the pace, frenzy and level of activity increases significantly. With that in mind, this article will attempt to briefly consider, examine, review and discuss, using the mnemonic approach, what this means and represents, and its impacts/effects, on home sales during these periods.
1. Hear; human; as; home: When you decide to sell during these types of periods, it’s important to understand what makes your home stand out from the rest of the pack, so you can get the highest price possible, in the shortest amount of time. of time, with the least amount of tension/stress/problems. You need to be willing to listen to what potential buyers are looking for and use relevant marketing strategies to attract the best deals! How one proceeds often determines if the transaction period and process is truly humane and achieves the owners personal goals, needs and priorities!
2. Optimize; offers; offer price; organize; original; options: During any scenario, it is wise to consider the approaches that have the best chance of optimizing results! Fully discuss, with the agent you retain, the best offer and/or price quote, during these times, and how it might affect the potential offers you will receive. The agents, who are better organized, never, just do the same as always, the same as always, but introduce some original ideas, which enhance and improve their options, etc.
3. time tested; prompt; trends: There’s no reason to try to reinvent the wheel, when effective use of time-tested methods and approaches, while adapting as needed, is often the best approach. Results improve, every time, when an agent consistently takes action, is thoughtful, timely, and always responds to any and all challenges, without delay or procrastination! Using relevant trends generally creates the best potential results!
Be prepared and realistic in all markets, even HOT one is! The better it is prepared, the finer the results!