We currently find ourselves in a “sellers market” – and while this phrase is thrown around often in the real estate field, we don’t often talk about what it means and what its implications are. To put it simply, a “sellers market” means there are not enough homes on the market, and the ones that are, are going FAST. I’m seeing this with my own clients, and the rate the homes are going under contract prove the point. This time of year is also a factor in the speed of home sales - springtime is always a busy season in the real estate world. Families want to get into new homes or out of their current homes before summer hits, and they want to make sure they’re settled before school starts!
Many times, people in “sellers markets” can find themselves with multiple offers on their homes, which can be a tricky situation to navigate. Sellers have several ways to deal with multiple offers. Here are some options I walk my clients through when this happens:
1. Accept the “best” offer they’re given
2. Inform all potential purchasers that other offers are “on the table”
3. “Counter” one offer while putting the other offers to the side awaiting a decision on the counter-offer
4. “Counter” one offer and reject the others.
Handling multiple offers is a delicate process that requires knowledge and skill. Seeking the advice of a trained experienced negotiator and real estate agent is best, especially when the market is in your favor.
Fair and honest treatment throughout the offer and negotiation process, coupled with prompt, ongoing and open communication, can enhance the chances that all buyers – successful or not – will feel they were treated fairly and honestly.
I am here to help you get the best deal, while not losing interested buyers and getting your home sold FAST. Questions? Let me help. Are you ready to sell your home? Now is the time - contact me and get your home ready to sell, listed, and sold!