Being in a strong market is exciting for anyone considering selling their home. A strong market offers you a chance to capitalize on any improvements made to your home. You might be tempted to sell your home without the help of a real estate agent, but doing so may end up costing you time and money. A real estate agent is an asset to have on your side during a strong market.
💵 What Makes the Market Strong?
A strong market is also known as a seller’s market. It means that the number of homes for sale outpaces the buyers who want to buy them. The market favors sellers once every three homes sell for every five listed.
The market’s strength comes from factors like dropping interest rates, an increase in the area’s employment, and expansion of government programs for home purchases. Special low-interest loans, help with down payments, and tax credits also motivate people to buy homes.
In this environment, homes sell relatively quickly. Multiple bidders might come up against each other for the same property. Some sellers even sell over list price as buyers attempt to break into the area’s housing market.
🙋 How Can an Agent Help Me?
Real estate agents understand all the factors that impact a home’s price and will give you an idea of what a fair list price is versus one that’s too high. They use comparative sales and area knowledge to come up with a price that brings buyers in the door. While the commission paid to a selling agent is higher than a buyer’s agent, agents do put a significant effort into marketing, showing, and helping a home seller through the process.
Having an agent on your side can bring a sense of peace during stressful moments. They can also help you when offers start coming through the door. Taking the first offer that comes in is a common response. But in a seller’s market, chances are that an even better offers will follow. Real estate agents help sellers see past the numbers to everything a buyer offers including things like financing type and contingencies.
A good agent has qualities like tenacity. They follow-up with people soon after showings, have a good work ethic, and don’t give up easily. The best agents also have sharp negotiating skills. They have the power to persuade buyers to shorten their closing, remove contingencies, or otherwise sweeten the deal in a way that benefits the sale of the home.
The connections and reputation that an agent has also play a role in selling in a strong market. They know other agents and buyers interested in purchasing a home just like yours.
Finally, a good agent knows how to be aggressive while still being polite. Having someone like this in your corner is beneficial for sellers because they’ll spend the time fighting on your behalf to get the best deal possible.
🗣 What Should I Ask in the Interview?
Interviews aren’t the easiest things in the world. But having one with a prospective agent is always a good rule to follow to ensure selling your home is successful
Do you sell real estate part time or full time?
This is a common question for those looking to sell a house. In a strong market, you may prefer someone working on your behalf that does so in a full-time position.
How many homes have you sold, and how well you know this area?
The answer to this question has no correct or incorrect answer. But considering that you’re attempting to capitalize on this ideal time to sell your home, you may want someone who understands the area trends.
Do you sell homes in my price range?
While agents sell homes at different price points, there’s something to be said that works with sellers in your price range often. Combined with experience selling in the area, agents who meet both requirements know what it takes to sell the home quickly.
What is your marketing strategy?
This question encompasses both traditional marketing as well as online marketing. Be sure to ask if online marketing isn’t mentioned because it does matter. A good agent utilizes a variety of methods including broker opens, flyers, and mailers. They’ll also submit the home’s listing to the MLS and put it on their website.
So many things influence the sale of a home. But in a strong market, the right agent helps come up with the perfect ideas to sell a home quickly for the best price possible. Before you consider selling a home without an agent, do your due diligence.
Your real estate agent is the best source of information about the local community and real estate topics. Give McArdle Team a call today at 360-710-1444 to learn more about local areas, discuss selling a house, or tour available homes for sale.