Every season has its own quirks, with autumn being no exception. This year, conditions can make navigating real estate transactions even more tricky. Low inventory, rising prices and mortgage rates, as well as an IRS shut down have made it harder for buyers to find a strong negotiating position. However, there are strategies that can help your clients feel more comfortable making a bid on a home.
Thoroughly Explain the Local Market
The uniqueness of the current season makes it more challenging to talk about the market in generalities. While your clients may hear things like “prices are up” or “now is a great time to sell,” those statements may not be true in the particular buying situation of the neighborhood. If you can explain trends in a particular area where the buyer is making an offer as well as the market in various nearby neighborhoods while they’re deciding where to look, you’ll help your clients feel confident in their decision.
Beware of Low Selection
This summer, homes were flying as buyers would scoop them up sometimes before they even hit the market. Any homes that weren’t sold quite so easily may now be owned by some very frustrated sellers. As the season winds down, and especially with the holidays around the corner, those homes are likely going to be taken off the market. The already low supply is likely to intensify, creating a scant selection for your buyers. On the other hand, you can help your buyers use this frustrated mindset to their advantage. Any homes that have been on the market for a few months are prime targets for negotiation. Sellers are likely to be discouraged and willing to make a reasonable deal to finally sell their home.
Use the Weather
After the heat of the summer, you’re probably glad the temperature has dropped a few degrees. The changing weather can also aid a home search. Visit the house on a rainy day with your client and you’ll be able to walk around the exterior looking for drainage problems, uneven lawns, and internal problems like leaks. If you find any problems, you can use those to your advantage while negotiating or ask them to be fixed before the deal is closed.
One of the most useful features of this time of the year is the fact that you, and the house, can experience almost the entire range of weather conditions. Planning to visit on a hot day, cold day, rainy day, and any other normal weather condition will ensure that your client will be happy with their home choice no matter what time of year it is. The different trips will certainly be worth it as you are able to keep your client happy for years to come.
Be sure to check out our Halloween and Fall time change postcards, and if you order your own custom designed fall cards, you may want to consider including tips on how to leverage Fall when buying or selling a home. Our new cards: http://www.corefact.com/print/catalog/205-featured/products