Are you a Billion Dollar Agent? Will your goals take you there?
Monday, March 1, 2010
How to Best Serve Sellers in a Buyer's Market
There is no doubt that the market right now is a buyer's market. That can make it quite hard on sellers and more difficult for you. This type of market makes selling a home, earning a nice profit and moving properties quickly, all tasks that are quite difficult. Trying to explain that to a home owner can be a challenge. Many home owners just want to make the sale fast and get a nice amount of money for their home. They do not want to hear that doing those things will not be easy.
It is your job to make sure sellers understand the market and that they understand selling in a buyer's market can be challenging. Here are some things that you can do to help make it easier for sellers during this buyer's market:
Provide them with plenty of proof about housing prices in their area for similar homes. Having proof upfront will make it much easier to explain to them why you need to set the price lower than they may want. Disagreements over price tend to be quite a problem during a buyer's market. Sellers just want to sell for as much as possible. Do your part by showing them what the highest price is right now.
Help them with staging and with preparing their home to minimize defects and play up assets. Help them to understand that they have to make their home look amazing if they want to sell it in this market.
Give them plenty of options. Offer to do more open houses and to do more marketing to help them sell their home as fast as possible.
The bottom line in a buyer's market is helping the seller understand what a buyer's market means to them. You have to be careful and you have to understand that sellers in a buyer's market are not always going to be happy people. Do your best to explain everything to them and help them in anyway you can.