There are many buyers in the current housing market; however, the inventory is low. Not as many people are selling their homes as there are people looking to buy a home. This could mean top dollar and a quick sale for a potential seller – if you can get them to sell. So, as a Realtor, how do you get a potential seller to actually put their house on the market, and better yet, choose you as their real estate agent? It comes down to understanding the current market and the fears behind why homeowners are not selling.
US Patriot Title, a title company in Jacksonville and St. Johns is here to support you. With a team of experienced real estate professionals, US Patriot Title can help you understand many of the factors holding potential sellers back from selling their property. Right now, US Patriot Title is seeing many individuals refinance their homes.
Many experts feel homeowners are choosing to refinance their homes to take advantage of the current, low-interest rates while avoiding selling their homes out of fear of spending an inflated price on a new home.
Current Market Trends
Dave Ramsey said in a recent article, “inventory was down 22% in November 2020 compared to the previous year. There just weren’t enough houses for sale over the year to meet buyer demand.”
This has created a shortage of homes available for purchase, and that is driving the prices of homes up. Prices for homes are already high. Because of this home inventory shortage, the prices are only getting higher. This is causing an affordability issue, especially for first-time homebuyers.
The shortage is making Realtor’s jobs more difficult. How can a Realtor match a family with their future home if there are little to no homes to show the interested family?
The good news is, there are many reasons for homebuyers to sell right now.
Here are 10 ways to convince a homeowner to sell their home:
1. Homeowners can get top dollar for their home
Since it’s a seller’s market, homeowners are able to get top dollar for their property. The market is high and homeowners may even be able to get more than their home is worth. This will allow the homeowner to make money on their property. As a Realtor, advise current homeowners of their possibilities. Explain how the market is right for them to sell and how you can make sure they get top dollar for their home.
2. Homeowners have their “pick of the litter” when it comes to which offer to take for their home
In tandem with getting top dollar for their home, homeowners may get multiple offers for their property since the inventory for homes is low. This means homeowners can choose the best offer for them. They have the ability to negotiate things like closing costs, etc within the offer. The homeowner can choose the best offer and timetable. A homeowner that needs more or less time to move, has more of an opportunity now than ever before to request the timetable that works best for them, or choose an offer that gives them the timetable they need – more or less time for the closing date or move-in date.
3. Homes are selling quickly
Homeowners won’t be waiting long for offers to come in on their home. With so many buyers in the market, it may only take days to settle on an offer and start the buying process. This can be an important factor for homeowners who were originally hesitant to sell because of the lengthy process. This can also be helpful for homeowners who want to find a new home first, then sell. They can rest assured their current home won’t sit on the market for a long time – costing them money.
4. There are many positives to purchasing homes right now
Many homeowners are worried about finding a new home they can afford after selling their current home. The good news is that interest rates are historically low. While homes are expensive, because these homeowners will get top dollar on their current home and interest rates are low, buying a home right now can be the right choice. As their real estate agent, you can help them find amazing home buying opportunities that are right for them and then help them sell their current home.
5. Sell your expertise and your business relationships
You are an expert in the Northeast Florida real estate market. Explain that to your potential seller. Sell your expertise in the field. Explain the current market and what these homeowners can expect if they choose to sell. Help them see all the wonderful opportunities available to them in this seller’s market. You can make sure they get top dollar for their property and you can get them into a new house they will be happy to call home.
US Patriot Title is happy to help you with all your title search needs. US Patriot Title is able to provide you with a preliminary title search to help you lead your potential seller in the right direction. US Patriot Title also has experienced real estate lawyers available to help answer any questions you may have. Remember, US Patriot Title team members are here to support you and your business. Building relationships with US Patriot Title’s dedicated and experienced team can help you convince potential clients to work with you. Having a qualified team behind you can be the selling factor your potential client is looking for.
There are a multitude of reasons homeowners should sell their property. With home inventory so low, sellers have the opportunity to make money and sell quickly. As a Realtor, you have unique opportunities to find potential sellers and make them aware of the selling benefits of the current market.
