How To Sell Homes When Prices Continue To Soar

Dated: 03/16/2018

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Real estate is business fraught with constant demand and competition. Even veteran realtors can be stumped trying to make their efforts come to fruition by making good profit margins even when market prices are soaring. The true litmus test of a great realtor is that s/he continues to make sales profitably even market conditions are not so favorable. An agent can hardly wait for favorable market conditions in order to make a profitable sale -  the competition sure isn’t!

Study your clients

Those with superior ability and business sense tend to delve deeper into more human factors such as why a seller wants to sell and what makes a buyer want to buy! Most of all, it pays to know what motivates your customers - whether it is a quest for investment or a residential property for personal use or a business person looking to lease. Uncovering the reasons that motivate your clients will also give you pointers into how your can make a relationship-building, mutually beneficial property sale. Here are some salient practices we follow to boost sales when home prices are on the upswing:

Make your property look good

Sprucing up the curb appeal, clearing the clutter and creating an inviting, attractive space will appeal to buyers looking to purchase a property for personal use. Most buyers to purchase a home that looks great. If the space already looks like it is in great condition, the clients are more likely to commit to buying the property.

Underprice the property

When you list a property on the MLS or elsewhere, you will be sharing  pricing information along with the listing. The estimated market value may differ based on seller preferences and neighborhood rates. IT may seem counterintuitive, but when prices soar, experienced realtors underprice the property to attract more buyers. Usually, having multiple competing offers will result in the property being sold at a much higher price point.

Obviously, when it comes to the practical aspects of making a sale when home prices are high, real estate agents will hustle harder in a tough market. However, a human touch, pleasant space and smart pricing will go a long way towards helping you close a sale.

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