Are Home Sellers Getting A Little Cocky? What They Should Know About Today’s Buyers
It’s no secret that the Dallas real estate market has favored the sellers for the last few years. And with more demand than supply, the still low mortgage rates, and a strong job market in DFW, that will not likely change in North Texas in the near future. So, after years of bidding wars and multiple offers that have steadily driven home prices up, my team and I have been surprised to see some houses sitting there longer than before. Buyers have been starting their searches earlier and waiting patiently for the right home to come along, before jumping into the bidding war. And yes, the best homes are still going for multiple offers above asking price. But think about it, if you were going to spend top dollar on your home, wouldn’t you want to make sure you’re getting your money’s worth?
There is more demand than supply today, but buyers have some demands of their own. Sellers must prepare their homes, prior to listing them. Putting lipstick on a pig, just won’t fly today. To get top dollar for a home, one must present a top dollar property to the potential buyer. And if it looks good on the outside, know that the bones don’t lie. Great Realtors protect their clients by recommending dependable licensed inspectors to their buyers, who will inspect every inch of the house. If the home is not properly maintained, and the problems are not remedied, the seller will risk losing a buyer in the option period, resulting in their house going right back on the market. The more days on the market, the less desirable the property appears to the consumer, resulting in less profit to the seller. Even if a home needs repairs (and some sellers will not financially be able to make repairs prior to the sale) the buyers must be able to visualize the potential and see themselves in the home.
Presentation is EVERYTHING in this market. Well…almost everything! A good professional Realtor will not only be an expert at providing a broker price opinion, but will also be able to help you with pre-listing suggestions for preparing your home for the sale, offer staging and/or staging tips, and be a home marketing specialist, regardless of the price point. She will be an educated, perpetual student of this industry, and will a have a team of trusted, reputable professionals to help ensure your home is presented in its best light, prior to the sale. And, she will be a master of communication and negotiation.
With the right real estate professional, both buyers and sellers will be protected, and walk away with a solid investment on what is typically their greatest asset. You wouldn’t trust just anyone with your greatest investment, so interview and hire the right professional, rather than going all DYI on this one!