Selling in Today’s Crazy Market
As a seasoned real estate broker with nearly 30 years of experience, I have observed a shift in dynamics in the current market. It is a unique phase, presenting unique challenges and opportunities for both sellers and buyers. We currently have somewhat of a housing shortage, but resale homes are not flying off the shelf at a premium as we recently experienced. Why is that? There are multiple answers to this question and if you’re in a situation where you are relocating and need to sell, what do you do?
Sellers in today’s market are caught between a rock and hard place. The majority of all current home owners have a really low interest rate somewhere around 3%. It’s hard to sell knowing your next new or larger home will have an interest rate close to 7%+-. This disparity has affected buyers' purchasing power, making it harder for them to qualify for loans compared to a year ago. As a result, buyers are often stretching their budgets to secure a home, banking on refinancing in the future.
On the other hand, sellers have to be a little more realistic. The days of naming your purchase price are in the past. However, hiring an experienced local realtor is your best option to maximize your sales price in the current market.
In the State of Texas we currently have super high record number of people with their Real Estate License. However, having a license or working for a well-known firm does not guarantee expertise or quality service. When selecting a realtor, prioritize market knowledge and experience over other factors such as personal connections or brand recognition. Local realtors are well-equipped to navigate the nuances of the market, including understanding comparable sales and connecting with potential buyers that outsiders may not have access to. It is essential to work with a local realtor who possesses in-depth knowledge of the area and can leverage their experience to benefit clients.
Today's real estate landscape has become complex. Transactions are rarely straightforward, often involving challenges such as regulatory hurdles, appraisals, title issues, surveys, and repairs. Experienced brokers, like myself, play a crucial role in problem-solving and ensuring successful transactions for our clients. The majority of the transactions that I handle are done with another realtor and 90% of the time I am the reason the transaction gets closed because when things come up, you have to have the experience to figure out a solution.
When you hire the right person you will maximize your sales price and accomplish your goals much faster and more efficiently. Be wary of the realtor that tells you what you want to hear or you’re going to be unhappy. What you need is for someone to tell you the truth, have realistic expectations, and trust the process with an experienced real estate professional.
My office, Brush Country Real Estate, is on Main Street in Lytle, Tx where it has been for 26+ years. Take the time to call a realtor in your local area that has been around a long time. If they weren’t good at what they do they wouldn’t have lasted and still be in business. Why would you trust what is likely your largest asset to someone who isn’t an expert? I hope this helps someone and encourage you to call me at (210) 260-6496 to talk about your property.