Tips for Home Sellers in a Changing Sacramento Market
Lots of home sellers in the Sacramento market have been calling lately for me to list their homes in the Sacramento area, and it seems to go in waves, just like purchase offers. For example, last night I received 3 purchase offers after 10 PM, which is kinda crazy. And I have a big uptick in listings this week, while it’s been relatively normal for the past couple of weeks.
I am hoping this translates into a lot more offers, but I suspect that if I’m seeing an increase in listings, so are other Sacramento real estate agents. When inventory increases in the Sacramento market but buyer demand stays constant or cools off, that means not every listing will sell. It’s a fact we need to face and prepare for.
See, this is why I am a top producer, because I think ahead.
What does it mean for a home seller? It means your first offer might be the best offer and the only offer you might get. We all hope for multiple offers because multiple offers can push up the price, and the seller can pick and choose which is the best. But that’s not true in most cases. Most sellers will not receive multiple offers. Work that offer you receive, even if it’s not an offer you want. Try to find a way to want it and to increase its desirability to you to make it work.
Don’t lose sight of the fact that what you have on your doorstep is a ready, willing and able buyer who wants to buy YOUR home.
It also means it might take longer to find a home buyer. It could take several months. If it does, it doesn’t mean your agent is slacking off, it just means homes are taking longer to sell in this market. If you are lucky enough to get an offer within a few days, don’t discount it thinking other offers are coming along. They might not appear. Not only that, but try to ensure the buyer you do find is serious about your buying your home because some buyers freak out and get cold feet the minute an offer is accepted. If you go into escrow and suddenly the buyer cancels, well, I hate to say it, but it’s happening.
The bottom line is keep up strong communications with your listing agent. Ask questions. Don’t make assumptions. Be reasonable. And your home should sell.