As the spring wears on, some owners who listed in March or even April might be getting antsy. However, real estate professionals should reassure them that there's still plenty of shopping season left for them to take advantage of. After all, expectations for the housing market continue on an upward trend and there's little sign that affordability could reverse course any time soon.
For one thing, agents should let their clients know that the real estate sales process is just that: a process, according to Realtor.com. It doesn't work the same for everyone and it is certainly dependent upon a lot of factors well beyond any buyer, seller or agent's control. That said, there may be many reasons why a home doesn't sell within a month or two, but as long as it's generating interest in the form of showings or busy open houses, there may be just a few things that need to be tweaked, rather than a re-assessment of the entire situation.
Of course, things like casting a wider net by listing on more sites will always help, and so too will looking at other recent sales in the area to see how they stack up and why they might have sold more quickly. Certainly, there may be adjustments that could be made to any listing - including the pricing - but in a lot of cases, waiting a little longer is often a good answer.
After all, because of the situation in the housing market today, more houses are being listed than a year ago, but still not enough to fully meet demand from would-be buyers. Just a few small changes to your approach would likely go a long way. Agents will have to work with clients to understand where they stand on the subject of cutting prices or changing the listing strategy overall.
A home that hasn't sold after several weeks or months doesn't mean it never will, and indeed, today's market conditions all but guarantee just about every home will come off the market sooner than later, according to Max Real Estate. While "wait it out" isn't always what people want to hear, agents who are reasonably sure the property is priced well and listed strategically, can stick to their guns. Often, these homes just need a little extra time, will need to be prepared to present reasons why staying the course is a good idea.
In fact, there may be reasons why the fact that a home didn't sell yet is actually going to work out well for their owners. After all, the best prices of the year are often found in May and June, so even if a home actually wasn't priced correctly for March or April, the market might change such that it is appropriate for the real start of summer.
Because real estate is as much about people as it is about paperwork and data, agents need to be prepared to handle any concerns their clients present, with professionalism and a good understanding of what's going on. That kind of certainty can go a long way toward reassuring clients that things are on the right track.
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