If it seems like you’re seeing a lot of posts from us on social media…some with back-to-back “JUST LISTED” and “PENDING” tags…well, you are. Sellers who have chosen to hit the ground running after the pandemic have seen their homes sell faster than ever, for more money than they may have received if they’d waited.
But that’s a good problem, right? For our sellers, it’s great (and we’re not complaining either). Most of their homes have had multiple offers and our sellers have been in a great position to negotiate a deal that gets them the most money for their home in the shortest time. In fact, one home we listed on Friday had over 60 showings and more than 10 offers in a single day, with one offer coming in at 15% ABOVE LIST PRICE!
But this quick turn around highlights a big problem for buyers in Central Florida: there are just so few listings to choose from. Because of historically low interest rates, more buyers than ever are getting into the market, but sellers aren’t following, which creates an inventory problem. Because of the increased competition, buyers are coming to the table more qualified, better prepared, and more receptive to negotiating on things like price, repairs, and closing costs. Buyers are having to make sure all their ducks are in a row, and look at homes well below their budget so that they can be prepared to increase their offers in order to secure the home of their choice. And they have to act fast. The home we sold this weekend that had over 60 showings? 40 or 50 showing requests had to be declined as the seller just couldn’t accommodate that many showings in 2 days. So that means nearly half the buyers who were interested in that home didn’t even get a chance to view it. And some buyers chose to make an offer sight-unseen.
This creates a huge opportunity for sellers who are looking to make a move. We have a database of thousands prospective buyers who are holding out for the right home, or just beginning their search and need more choices…and that’s just us. There are hundreds of Realtors® out there representing buyers who NEED to buy NOW. If you’ve ever thought about selling your home…now is the time! Because buyers are so motivated, and ready to move quickly, sellers who price competitively ultimately see more competition, a higher sales price, and less time on market than we’ve seen in the past 10 years. We have no idea how long this exceptional seller’s market is going to last, so the time to take advantage is now.
To speak with one of our team members about listing your home for sale, click here. We also have tons of tips on how best to prepare your home for sale. Check out this blog series by full-time, professional Realtor® Tim Longest about how he prepared his home to sell, and then sold it with only 2 days on market!
And if you’re looking to buy, don’t be discouraged by low inventory. With the help of one of our full-time, professional Realtors®, you can still find the right home for your family. Reach out to us and we’ll help you get pre-approved for a loan, and make sure you’re prepared to make a competitive offer on the home of your choice. You can also search our listings or create a custom search here. Our website is updated several times a day from the MLS.