It appears that the tables have turned in the Edmonton housing market. For the last few years, buyers have had a leisurely experience of slowly pursuing the roster of houses available. The surplus of homes has given buyers power in negotiating and frankly has left many sellers feeling disheartened. Even in a down market, well-priced Edmonton real estate moves swiftly. But we aren’t in that market anymore. If you are considering selling your home in today’s market, the time is now to consult an Edmonton REALTOR®. At the very least, you can better understand what your house could sell for and what the process will look like for you.
Sellers: You will get the most money for your home right now.
Due to multiple offers, it is not unusual for homes to sell above the asking price in a seller’s market. If a house is desirable, the odds are that the home will end up selling for more because so many buyers are interested in it. The market is so much of a seller’s market that some people make offers without conditions in some areas. At minimum, buyers tend to have a financing condition and typically a home inspection condition. We see as of late that buyers are willing to waive these conditions if it means they will win in a multiple offer against other buyers.
Sellers: Your home will sell quickly
Inventory is low, and buyers are hungry; it’s no secret that we are in a seller’s market right now, meaning that there are more buyers than homes for sale. This kind of market suggests that home prices tend to be higher due to the increased demand of sellers. Houses usually sell quicker, and there will likely be multiple offers on a property, allowing sellers to negotiate, etc. The beauty of a seller’s market is, well, all of these things we just mentioned. It really is the perfect recipe for people looking to sell their homes at the highest price.
Buyers: It’s never too soon to start looking.
As we mentioned earlier, there are fewer homes on the market than buyers, so you’ve got to get out there and start looking at properties! If you’ve begun your home search, odds are you’ve stumbled upon REALTOR.ca, the powerhouse of online real estate listings. This is a great place to start narrowing down your search, but subsequently, you will need to find a real estate professional to work with. Navigating the market demands knowledge; your REALTOR® has a breadth of experience in transactions, contracts, etc. Once you and your real estate professional have started your search, you will swiftly be able to put an offer on a home if you love it! Again: the market is hot right now, and it favours sellers, so if you find a home you want to buy, you have to move quickly.
Buyers: Don’t be discouraged.
Just because the market is favouring sellers right now doesn’t mean you should get discouraged. There are a few strategies that your Edmonton REALTOR® will help you implement. These strategies will look like moving quickly; if you find a home you really like, there isn’t much time to wait around. Your real estate professional will implore you to act fast. Making a competitive offer will also help you stand out amongst other buyers; you want to be noticed by the seller. Your Edmonton REALTOR® will likely ask you to get prequalified for your mortgage, making your offer more compelling and legitimate. Another thing that we have found to be helpful for sellers is when our buyer writes a personal letter. You can include things about you and your family, why their home would be perfect for you, what you love about their home, and acknowledging that it is likely very difficult to leave their beloved abode; there is a real sense of peace for sellers when they know they are leaving their house in good and caring hands. We’ve written an article about how to win a multiple offer here, if you’d like to learn a few more of our tips!
We’re here to help!
Realty Unleashed is primarily a listing brokerage. While we certainly work with buyers, our services are there for sellers! Realty Unleashed offers free home staging, free listing and move-out clean, yard maintenance, and much more; (you can read all about our services here). If you are looking for an Edmonton REALTOR®, we would be thrilled to assist you! Our team of real estate professionals is equipped to help you sell your beloved home in this very hot seller’s market.