There seems to be a problem in the real estate market right now. What is causing this problem may surprise you. All around, we hear the news stations, blogs, and newspapers rejoicing over our booming real estate market. Realtors are busy scrambling all around town to take advantage of this booming market. Just recently, the Dallas Morning News published that homes prices were up another 10%.
So what’s the problem you ask? The problem is, there are hardly any homes for sale.
We are in a booming sellers market where homeowners can get their home sold in hours and for top dollar. If a homeowner was looking to make some serious money off of their home, now would be the best time to sell.
Through interviewing a few past clients of mine, there seems to be a common answer among all of them. They know, for the most part, they would make a good amount of money if they sell a home in this market. The thing is, they are scared to sell their home. Recently a client told me, “We’re scared if we sell our home, we will have nowhere to go.
This was a totally valid reason and is completely understandable. Until the market takes a shift, it looks like there will continue to be strong competition amongst buyers. The best recommendation for this problem would be to make sure you have a great agent. You will want an agent with strong contract and negotiation skills to get your offer won.
Also, work with an agent that knows the market very well. A good amount of properties sell “off-market” and you will never know about those opportunities if your agent doesn’t even know.
Chastin J. Miles is a full-service real estate agent specializing in Dallas real estate, brand management, and client representation in a comprehensive spectrum of classes including single-family residential, condos and developments, commercial real estate, and luxury leases.