Often the biggest challenge that a seller or buyer faces is the waiting. Waiting to get the home ready for market, waiting for it to appear on MLS, waiting for a showing to be booked, waiting for feedback, waiting for an offer, waiting to hear, waiting to hear, waiting to hear, waiting for the inspection to be booked, waiting to hear if the financing is ok, waiting to hear if the buyers home has sold, waiting for the conditions to be lifted, waiting for the waiting to be done.
The same applies for you buyers out there. Waiting for the right house to arrive is the biggest wait. This waiting period can be the toughest one to predict and manage. You really are at the mercy of others, particularly if what you are looking for is in short supply.
Here on August 1st, we enter what can be the wait-iest (yes, I invented a word) time of the year. You’ll see it in many businesses and areas of life. There is a reason that your child’s soccer team only has 7 kids show up for their game this week…many people are up north, down south, in their backyard or just plain doing other things.
So, as a home seller, now is the time to get creative, aggressive or really patient. Sure, buyers are out there however there are certainly less of them. On the flipside, as a buyer, new listings will arrive but not at the pace as they arrived 60 or 90 days ago.
The question is, as a buyer and/or seller, what do you do. You can hang in there and keep going with the status quo. Or you can dig a little deeper and try to get creative. As a seller, perhaps that is open houses in non-traditional times, adding a bonus to your listing if sold by date ‘x’, getting aggressive with the price, make some improvements to your home that set it apart.
Bottom line, August can be fairly waiterrific (yes, another new word for the fine folks at Oxford to consider). As REALTORS, the focus really has to be to bear down and dig in. Hunt, find, search, call, connect, email, work, expand, focus, network and most important of all, NOT wait.
If you need help, whether as a buyer, seller, both or just real estate in general, please feel free to contact us at your convenience.
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Thank-you to Joshua Earle for the photo.