Quantcast

How to Win in a Seller’s Market - KOAA.com | Continuous News | Colorado Springs and Pueblo

How to Win in a Seller’s Market

From Our Sponsors:



Preparing to list a home for sale or to go house hunting soon? You'll need to abandon tactics that worked in previous years. The Pikes Peak market now decidedly leans toward sellers and calls for adopting shrewd strategies to score a winning deal.

Low mortgage rates and strong local employment has the housing market off to a strong start this spring.

“It's a seller's market, meaning there are plenty of prospective homebuyers vying for a lower inventory of housing stock,” says Kerry Brill, president and chief executive officer of Merit Co. Real Estate in Colorado Springs, Colo. “We're seeing bidding wars, with multiple buyers vying for the same property and sellers getting a higher sales price than normal.”

While sellers may have more leverage than in the recent past, Brill cautions that they should take nothing for granted. “Sellers and buyers alike need to proceed carefully for either party to score a better deal,” he says.

Brill offers the following tips for sellers and buyers in the current market.

For sellers:

• Do your home prep work. Your property should be thoroughly cleaned, decluttered, and at least lightly updated with a fresh coat of paint and new carpeting where needed. Consult with your agent on how to effectively stage your home via rearranged or new temporary furnishings and décor.

• Keep your initial price relatively low. Pricing your home just below market value may lure in more buyers and lead to multiple bids.

• List your home closer to the weekend. A listing that goes live on Friday can generate more buzz and eager buyers than one on Monday or Tuesday.

• Stack your open house immediately after listing. Have your agent schedule back to back to back home showings if possible to increase your chance of multiple offers.

• Create more interest with restricted showings. If you limit the times when your home can be shown, it can drive up demand.

For buyers:

• Get preapproved for a mortgage as soon as you can to save time and demonstrate credit-worthiness to the seller.

• Act fast. Try to visit the home for sale as soon as possible after it has been listed to put you ahead of the pack.

• Think twice before lowballing. Making an offer lower than the list price can put you out of the running. Be prepared to bid for more than the seller is asking.

• Put the kibosh on requests for contingencies and extras. If you ask the seller to throw too many things into the deal, they'll likely choose someone else to bargain with.

• Be nice. “Get on the seller's good side by being flexible. For example, you might allow them extra time to move,” says Brill. “Ultimately, you want to demonstrate a good sense of timing and your strong interest in their property without getting outbid or, worse, ignored.”

Ready to jump into the competitive Pikes Peak market this spring? Put the region's oldest and largest independent full-service real estate agency on your side of the table.

Merit Co. is a family-owned local real estate agency committed to the success of its clients and its agents.

Sellers, Merit can help you make a great first impression. Drop by our website to request a complimentary valuation of your home using our easy online form. Buyers, put our experience to work for you. Get started online: conduct a property search for a home based on your desired price range, size and location or sign up to get listings via email.

For more information, phone (719) 598-4884 or visit www.meritco.com.

This article was produced for and sponsored by Merit Co. Real Estate, Colorado Springs, Colo. It is not a product of or affiliated with KOAA News 5.




  • Merit Real Estate StoriesMore>>

  • 7 Signs of a Great Real Estate Pro

    7 Signs of a Great Real Estate Pro

    Wednesday, January 21 2015 2:36 PM EST2015-01-21 19:36:35 GMT
    From Our Sponsors: Merit Co. Real Estate, Colorado Springs, Colo. Whether you want to ensure a more beneficial tax return, plan the perfect wedding or defend yourself in court, it pays to enlist the aid of an experienced professional. The same is true of buying or selling a home. Smart consumers know they'll have better data, wield greater bargaining power and likely enjoy a faster transaction if they trust in the expertise of a professional real estate broker or agent. But locating the right...
    From Our Sponsors: Merit Co. Real Estate, Colorado Springs, Colo. Whether you want to ensure a more beneficial tax return, plan the perfect wedding or defend yourself in court, it pays to enlist the aid of an experienced professional. The same is true of buying or selling a home. Smart consumers know they'll have better data, wield greater bargaining power and likely enjoy a faster transaction if they trust in the expertise of a professional real estate broker or agent. But locating the right...
  • 5 Best Times to Sell Your Home

    5 Best Times to Sell Your Home

    From Our Sponsors: Merit Co. Real Estate, Colorado Springs, Colo.To generate maximum laughs, standup comics need a good sense of comedic timing. But to generate a faster sale and a higher paid price, home sellers need to have a good sense of market timing. Knowing when to list your residence for sale for maximum impact requires careful insight and collaboration, says Kerry Brill, president and chief executive officer of Merit Co. Real Estate in Colorado Springs, Colo., the oldest and largest ...
    From Our Sponsors: Merit Co. Real Estate, Colorado Springs, Colo.To generate maximum laughs, standup comics need a good sense of comedic timing. But to generate a faster sale and a higher paid price, home sellers need to have a good sense of market timing. Knowing when to list your residence for sale for maximum impact requires careful insight and collaboration, says Kerry Brill, president and chief executive officer of Merit Co. Real Estate in Colorado Springs, Colo., the oldest and largest ...
Powered by Frankly

© KOAA.com 2017, KOAA.com
A CORDILLERA COMMUNICATIONS Station
All rights reserved
Privacy Policy, | Terms of Service, and Ad Choices

Can't find something?