Ah, the spring market! As everyone who’s anyone in real estate knows, this is the make it or break it time of the year. All those wonderful young families looking for new homes to settle into over the summer before school reopens in the fall! Isn’t it exciting? But hurry along now, don’t let them slip away. By the time June rolls around buyers and sellers have all paired off, completed their transactions, and are making plans for their summer getaways. Miss out on that action and you might as well unpack those wine glasses boxed in the garage; you’re going to need them to get you through the long wait for next year’s selling season.
Yeah, right. Give me a break.
The truth is, there’s no such thing as a selling season.
Or, more accurately, all seasons are selling seasons.
Just because you didn’t find the house you wanted by a certain calendar date doesn’t mean you have to stop looking. Real estate isn’t a pens-down exam. Houses come onto the market when people need to move, and people need to move for a variety of reasons. Health issues, divorce, change of job, retirement; these factors and more can arise for anyone at any time. Also, the mere fact that a house didn’t sell in the spring doesn’t mean it’s a bad house and you should avoid it. The likely reason it didn’t sell was that it was improperly priced. See it for yourself. If you like it, make an offer. Don’t wait for a price reduction. That’s what everyone else is doing. Once the seller lowers the price, a flood of offers will come in. Instead of standing out, your offer will become one of many. Set your own terms by making an offer early, before everyone else.
The same holds true for sellers. Buyers aren’t flowers that only bloom at certain times of the year. They enter the market out of need, just like sellers. Don’t pull your house simply because it didn’t sell when it was supposed to. Instead, you might want to take a long hard look at your pricing and consider a reduction.
This brings us to the key factor for both parties: finding the right agent. While others take a passive approach, waiting for things to shake out in their favor, a knowledgeable, experienced real estate professional can provide you with creative solutions. For example, a situation might arise in which a rent-back would be advisable. Let’s say the buyer wants to close in the beginning of June just to get the financial transaction complete. At the same time, the seller is booked with graduation parties and a traditional family Fourth of July gathering. A savvy agent will work out the terms allowing for the securing of the home for the buyer while simultaneously giving the seller the opportunity to rent back the house on a month-to-month basis after the close.
Whatever the circumstances, where there are two willing parties there is always a way forward. Don’t let fear or doubt hold you back. Nothing is happening on the sidelines; you need to get in the game. Be bold and take control of your real estate needs.