Prepared sellers can benefit from market chaos, says realtor
Some may view today’s real estate market as chaotic, with multiple buyers, competing interests, negotiations and requests coming from several directions at once.
Speaking in his monthly real estate newsletter Rego Sotheby’s International Realty agency manager Ben Rego said these conditions can benefit well-prepared sellers.
“It is actually a position of strength when handled correctly,” Mr Rego said. “Our role is to guide sellers through that process carefully and strategically to ensure the best possible result is achieved and expectations are exceeded.”
Well-priced properties paired with excellent exposure and the right strategy are performing exceptionally well, Mr Rego said.
The last month had also reinforced the importance of choosing experienced agents who understand the buyer pool when it is time to sell. He has also noticed that listings help sell other listings.
“Buyers are constantly comparing opportunities,” Mr Rego said. “We still see properties sitting on the market where the mentality becomes fix the house or fix the price and naturally buyers approach those situations feeling as though they have leverage, even in a seller-favoured market.”
On the other hand, he said, quality inventory creates momentum.
“While only one buyer can ultimately secure a property, every strong listing tends to attract multiple interested parties,” Mr Rego said. “That means that even when someone misses out, they often remain active in the market.”
He said listings bring buyers and create relationships.
