If you have proper motivation and a great agent, you can still profit.
Today I want to talk to all the homeowners that are thinking about selling but don’t necessarily have a compelling motivation driving the sale of their property.
For the last couple of years, if you listed your home—whether you spent time preparing it for the market or you didn’t—the property was going to sell. The more time you spent on home preparation, the more you could sell it for. However, the bottom line is that 99% of homeowners that listed their properties for sale sold them within a month or less because interest rates were lower than they’d ever been (2.5%) and inventory was low. Any home that got listed sold, and agents and sellers got spoiled.
Interest rates are now in the 7% range, which is more than a 300% increase since a year ago. Affordability, demand, and buyer confidence have all fallen dramatically. The only homes that are selling well are the homes from a motivated seller and a strong agent. If you’re motivated, you have a true reason to sell, and you’re willing to work with an agent that has a great strategy. You can be extremely successful in this market because we still have low inventory. If you just want to put your home on the market and hope for the best, don’t even bother. The buyers will smell that from a mile away.
If you’re interested in selling in the future and you want to keep a pulse on your market, we offer a free service called Homebot. It’s a comprehensive monthly report, and everyone we send it to absolutely loves it. If you’d like a Homebot report for your property every month, send me a message. If you have any other questions, contact me via phone or email. I look forward to hearing from you.