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.
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.
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.
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.
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!