Realtor - Amanda S. Davidson: It’s A Seller’s Market and Then Some

It’s A Seller’s Market and Then Some

It’s A Seller’s Market and Then Some

I had a call from an agent who showed one of my listings the first day it came on the market. She was calling to inquire about its availability and I let her know we already had an offer, were expecting one more and had a full day of showings scheduled. We had a good conversation and she planned to call her buyers and then get back to me.

Market Trends in Alexandria 

Fast forward to the next day, she called back and said her buyers think I’m not being honest about having an offer. Citing that there’s just no way an offer came in on the first day the home was on the market. We had another long talk and I really felt for her because she knew I wasn’t lying and what the market is currently doing but, from what she shared these buyers thought every agent was lying about having offers and even when a home would then go under contract within a couple days of her passing the information along to them they still didn’t believe it.

 

Market Trends in Kingstowne 2018

 

If you’re buying a home in the current market know this – it’s a seller’s market and then some. Homes that are priced correctly, have a reasonable amount of updates, and show well are not only moving quickly they’re moving in a matter of days and that’s no lie. Her clients decided not to write and told her that they thought the home would still be on a market in a week and they’d make an offer then so that they could negotiate. Needless to say, the house was on the market for 5 days and half of that was time spent negotiating due to the 6 offers that came in. The sellers selected an offer that carried very little risk for them and the rest is history.

 

Kingstowne Market Trends June 2018

 

The agent’s buyers took it upon themselves to go knock on the door of my listing. They questioned the sellers about receiving multiple offers and then proceeded to try to “cut a deal” with them. My sellers set the record straight and confirmed everything that was shared with them was the truth and under no certain circumstances would they be cutting any deals – they had an offer they were extremely pleased with. My clients weren’t thrilled that these buyers had come right to their home to ask questions but, thankfully understood that their agent and I had no idea they would do that.

 

Kingstowne Market Trends

 

If her buyers aren’t able to come to terms with the current market conditions they simply aren’t going to be successful in purchasing a home and that’s the case for any buyers who think it’s not a seller’s market. With the right pre-marketing and presentation, sellers are in the driver’s seat when they list their home. As a buyer be prepared to make an offer quickly and put your very best foot forward right from the start. 


If you have questions about the current market conditions in Alexandria or Northern Virginia reach out to us. We welcome the opportunity to answer your questions!

 

 

 

Amanda Davidson Real Estate Group

 

 

      

 

Amanda Davidson

Amanda Davidson Real Estate Group

Broker - Owner
Licensed in VA and DC

6485 Old Beulah Street
Alexandria, VA 22315

Cell: 703.431.3755
Fax: 703.562.7057




Comment balloon 25 commentsAmanda S. Davidson • June 13 2018 07:12PM

Comments

Good morning, Amanda S. Davidson it's an extreme sellers' market throughout most of the country....and if buyers are not prepared to give it their very best on the first attempt, they will miss it.... highest and best the first time out of the gate with the original offer....no one needs to counteroffer.... they take the best and run in a bidding war...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 4 months ago

Those poor buyers will lose many houses before they figure it out - they clearly don't trust anyone. In a rising market, buyers need to move fast. For those that don't want to get caught in a bidding war, it will be a long haul.

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) 4 months ago

This is important information to share with prospective home buyers.

Keep cool and have a great day.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) 4 months ago

Amanda, WOW, never have heard buyers knocking on a door asking the Sellers about offers received.   These buyers are out of control!  

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) 4 months ago

Wow Amanda, the buyers came and knock on the sellers door to cut a deal.  I feel for the buyer agent and would let the agent know what the people are doing.  Thanks for sharing.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 4 months ago

I feel bad for the agent that her buyers will not believe her, but I don't feel bad for them at all, haha.  You snooze, you lose and if they don't want to believe reality, then perhaps they don't get the home they want, haha.

Posted by Brian England, MBA, GRI, REALTOR® Real Estate in East Valley AZ (Arizona Focus Realty) 4 months ago

Good morning Amanda S. Davidson, some buyers learn the hard way. Whether they believe or not, it is a sellers market in most areas and offers may come in the first day. I list in a certain subdivision in my area and many local agents know that. I have several agents waiting for one of my upcoming listings to hit the market and it's not in MLS, I never advertised it as a "coming soon" listing. It's a crazy market for sure. 

Posted by Beth Atalay, Cam Realty of Clermont FL (Cam Realty and Property Management) 4 months ago

Good Morning Amanda S. Davidson 

It might just be a good time for the buyer's agent to fire the buyer. Amazing what desperate buyers will do. Sounds like they have no understanding of the current market conditions OR should I say don't believe the market.

Posted by Doug Dawes, Your Personal Realtor® (Keller Williams Realty - Topsfield, MA) 4 months ago

Amanda S. Davidson - Some buyers just don't get it. But as always, you handle every situation with true professionalism and you always keep your focus on the goal.

Buyers and Sellers should all know you're a woman with integrity, honesty, and a litany of testimonials and success stories.

 

Posted by Patricia Feager, Selling Homes Changing Lives (DFW FINE PROPERTIES) 4 months ago

Good afternoon Amanda - these buyers sound like the typical don’t confuse me with facts type.  The will wake up or lose out. 

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 4 months ago

Amanda, in my market it has been a seller's market going on the fifth year now and more buyers fewer inventory buyers end up learning when they missed out two or three times that it really is a fast market in all price points, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 4 months ago

Wow! Some nerve knocking on your sellers' door! Guess some people have to learn the hard way!

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) 4 months ago

Usually buyers learn from their first experience when they lose out on a house . 

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) 4 months ago

Good morning Amanda.  All I can say is that I'm glad these buyers were not mine.  I would have been so embarrassed and they would no longer be my buyers after an incident like this.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 4 months ago

WOW - the buyers knocking on the sellers door and trying to cut a deal shocked me.  If they were my buyers I would have dropped them immediately!  I definitely don’t need buyers like that

Posted by Terry McCarley, REALTOR, SRES, CDPE - Cape Coral, FL (REMAX Realty Team - Cape Coral FL) 4 months ago

Amanda- it truly took a lot of nerve for the would-be buyers to walk up to the seller's home on their own. When things like that happen it only signals things to come!!!

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) 4 months ago

Hi Amanda

It's definitely a challenging market, and a frustrating one for buyers. While I have not had your situation happen with my listings, including buyers coming to the door to try and talk to the sellers, I have had buyers on more than one occasion question how fast offers are coming in and even IF there are multiple offers.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 4 months ago

Amanda, this is a great post with a great real life illustration.

I fear that many buyers are using old data to make decisions with.

There are still those who think they can get a steal of a deal, when in fact there is a battle going on for a good listing.

Glad your clients understood.

Posted by John Wiley, Lee County, FL Real Estate GRI, SRES,GREEN,PSA (Right Move Real Estate Group- EXP Realty) 4 months ago

Amanda, this is a great post with a great real life illustration.

I fear there are buyers who are using old data to make their decisions.

They think they can still steal a bargain, when in fact there is a battle for a good listing.

Thanks for sharing.

 

Posted by John Wiley, Lee County, FL Real Estate GRI, SRES,GREEN,PSA (Right Move Real Estate Group- EXP Realty) 4 months ago

Amanda, I'm not surprised at what these buyers did because it happened to one of our sellers too. Pushy buyers who were know-it-alls and they brought their Mom along too who was worse!

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Condo & Home Sale Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) 4 months ago

Those buyers are in denial!  I would not want to work with them. They think they know more than the agents that work in this business every single day. Insulting.

Posted by Mary Hutchison, SRES, ABR, Experience Agent in Kansas City Metro area (Better Homes and Gardens Real Estate-Kansas City Homes) 4 months ago

It is a sellers market but sellers do have to be realistic and have their properties ready for market and priced correctly. Buyers do lots of research and are very knowledgable. 

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) 4 months ago

Wow!  That took some nerve.  Evidently the buyers hadn't read the papers lately.  Being a good source of information for buyers is critical as a buyer's agent.  It didn't seem like they had all the information they should have in order to be more proactive. Of course some buyers simply have to lose a purchase before they get serious.  Congrats on your sale! 

Posted by Jan Green, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN (Value Added Service, 602-620-2699) 4 months ago

Interesting post and comments, however, the buyer's agent may not have advised his clients about his terms and conditions as their agent. If a client violated any of the terms, conditions, and agreements, an immediate termination should occur. A professional agent wouldn't hesitate because they're fearless.  

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) 4 months ago

Hello Amanda- - -I don't prescribe medication but I might suggest a reality check prior to proceeding. Really. 

Posted by Michael Jacobs, Los Angeles Pasadena Area Real Estate 818.516.4393 (Coldwell Banker Residential Brokerage) 4 months ago

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