The End of the Sellers Market?

The End of the Sellers Market?

By Ilan Joseph, Broker, ABR®, e-PRO®, AMP® | ilanjoseph.com | June 3, 2014 | © All rights reserved

sellers marketEvery spring we see a trend. Sellers who list their home for sale early in the spring tend to reap the greatest rewards from buyers eager to buy after a long cold winter. While most sellers are still discussing listing their homes or perhaps are slowly getting their homes ready to be listed, the early spring sellers are already out there plucking out the ripest buyers who have anxiously waited all winter to find their next dream home. Thus, sellers often miss the peak selling season that typically ends around the Victoria Day (May 2-4) long weekend. The most eager buyers have since found their new homes, even if it meant fighting tooth and nail through at least one bidding war during an active sellers market. The post May 2-4 long weekend market sees some balance as more homes are finally starting to hit the market.

Why Should Buyers Care?

You can finally sleep at night knowing more than just a few homes exist within your price range. You won’t find yourself in as many bidding wars and you surely won’t feel the pressure to buy a home you’re not entirely thrilled about. Our tips to you:
  • Work with an agent who is out there each and every day, full-time. They will be the ones who pick up the newest listings first and will have time to show it to you on short notice.
  • Sign up for instant property updates. Why wait a day or two before a new listing shows up on realtor.ca or those other “listing” sites? Sign up right now to receive listings the moment they hit the market, or opt for a daily summary of homes matching your budget & search area. 

Why Should Sellers Care?

With prime selling season behind us, you may need to re-evaluate your expectations. While some high demand areas will continue to see many eager buyers, most neighbourhoods will have already started seeing more and more for sale signs popping up all around them with many more options available to buyers. Our tips to you:
  • Work with a real estate agent who has a lot of experience. You'll quickly appreciate that a solid marketing plan will assist in bringing in a greater number of highly qualified buyers. MLS is simply not enough. You need a team of full-time marketers behind you who can showcase your home on many other high traffic mediums to entice more buyers.
  • Keep an eye out on your competition. To really understand how buyers think, you must walk in their shoes. I encourage all of my sellers to spend an hour visiting comparable homes in the area, prior to listing their homes. You must KNOW what you're up against.
 

If you have any questions about the selling or buying process, feel free to email me or call me at 416-739-7200

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  first time home buyer toronto ontariotoronto real estate vaughan real estate for sale   IMG_0080 bwIlan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto, Thornhill and Vaughan real estate team. You can find him on LinkedIn, Twitter, YouTube and Google+. For over 10 years, Ilan has provided more than 1550 buyers and sellers valued advice and service, enabling them to reach their real estate goals. He’s kind of like the Bruce Willis of real estate.