It's no secret that buying and selling a home can be a complicated process. But did you know that timing is key? This blog post will explain why timing is important in buying and selling homes and offer some tips to help agents guide clients to make the most of the market conditions.
Why Timing is Important for Buyers
If clients are looking to buy a home, timing is everything. In a seller's market, homes maintain their value for longer, and it may take some time before they net the profit they want. In a buyer's market, buyers have more leverage as there are more options on the market. What this means for agents is that if clients are first-time homebuyers who really want to buy a home this year, a buyer's market probably isn't in the near future. Think of it as an opportunity to get ahead of the curve! If clients aren't quite ready yet but think they might be soon, make sure to keep your eye on the market. In a balanced market, houses tend to sell rather quickly as neither buyers nor sellers have much leverage.
Why Timing is Important for Sellers
Luckily, right now is a seller's market so it's a great time to sell and be a seller's agent. But depending on things like the holidays and school year calendars- some times are better than others. For example, families like to be settled by the school year so late spring and summer can be a strategic time to sell. The end of the year can be tricky, so advise clients to not wait too long. As an agent you could be fielding low ball offers from potential buyers who are still holding out hope that they'll find something better before 2023 rolls around.
Bottom Line
There are many factors that influence the housing market, which is why it's difficult to predict what will happen next. However, if your clients are thinking about selling their home in the next 12 months, knowing what the market is looking like can help them make a more informed decision. This is where having an agent is crucial so remember your worth!
Be sure to read up on the latest market conditions so that you can list at the right time and get your clients top dollar!
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