5 "Offseason" Tips for Realtors and Home Owners

Review Pricing on Your Properties

Pricing is always the most important aspect. Especially now in a slowing market there is more inventory and fewer buyers, plus properties are now on the market twice as long as we've seen in the recent past. You're property must be priced very competitively. And you cannot only look at what is currently on the market because those properties haven't sold yet. You've got to take a look at what's sold recently.

Shout From the Rooftops

Getting the word out about yourself in the downtime can help lead to sales down the road. Nearly 90% of buyer's search the internet prior to contacting a real estate agent. Having high internet rankings for specific searches is key. If you have a website consider this a great time to retool and make sure you are optimizing your site for the keywords you really want to rank for. Also use this time to attend local networking events and follow up with prospective clients in your book that maybe looked at some property last season but did not purchase. It is very possible that they are still looking. Above all else, now is the time to be proactive!

Ready, Set, Sell

Make the rounds for your listings and see that they are still getting the attention they need. Taking care of little things along the way is much better than realizing bigger problems down the road when you are really gearing up to sell a home. Get the property ready to sell before the property hits the market, and it must shine and shine brighter than anything else in its price range. New carpet, fresh paint and removing any clutter are quick and cost effective tips. Encourage sellers to make any minor repairs now.

Work on Your Flexibility

Keep an open mind. Buyers are looking for deals more frequently today. Price reductions, giving buyers credit for closing costs or inspection items are all things that need to be openly considered. In the past there was no such thing as a "deal" on homes in Summit County, Colorado (where I work). But that's exactly what buyers are expecting now. They are making offers and then moving on to the next property if they are getting what they believe is a better deal somewhere else. Be prepared to discuss this with your clients, and make sure they have an open mind as well.

For the Buyers!

Get pre-qualified by a reputable lender prior to making an appointment with a realtor. Lenders are just as uneasy as buyers are right now and obtaining a loan is increasingly more difficult and frustrating. Even buyers who are able to cash five times over for a specific property are still having to jump through enormous hoops to get a mortgage. Start this process early and be prepared when you first contact a real estate agent. Finally, a note to both buyers and sellers: Be patient, positive and open minded.

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