MIAMI Association of REALTORS




How to Convince a Homeowner That Now is the Right Time to Sell

by | Mar 28, 2014

now-o-clockIn a relatively short amount of time, the real estate industry has experienced a huge change. We have moved from too much inventory to too little. Thanks to a recovering economy and record low mortgage rates, we now have more buyers than sellers. This is great news, but now how do you convince homeowners that it is the right time to sell?

Here are a few suggestions to consider to increase the number of potential seller clients:

1. "It's time to sell" articles

  • Prices are going up - Using data available from your local MLS or brokerage, write an article about how prices are increasing in your area. You can show 2014 trends vs. 2013 trends. Displaying longer term trends can also show how home prices have recovered back to historical levels in many markets.

  • Inventory is tight - The same data can show just how few properties are currently available in your area. I had an agent call me once that told me that there were no homes for sale in my price point in the area. She convinced us to put our home on the market because there was so little competition for a home like ours.

  • Homes are selling faster - By using "days on market" stats, you can clearly show how much faster homes are selling these days compared to previous years. Sellers are more interested in listing their property when they can see that their home may sell in days or if they're very lucky, in hours. This is definitely a time when selling a home can be a very profitable venture. This article or series of articles can also share anecdotes about multiple offers on homes being sold currently.

2. Collect buyers and build demand

Another way to convince a homeowner to sell is to demonstrate that you already have a collection of potential buyers for the property. Participate in a program like BuyerMLS where you can identify buyers that are looking for a home similar to the home the potential seller may own.

3. Take away fear of repair costs

Some consumers may be reticent to sell their homes because they're fearful they may need to invest in costly repairs before they can sell their home. By offering them a home warranty as part of your listing presentation, you can assure them that you are there to allay these fears. If a repair is necessary while the home is for sale, the home warranty will cover those costs.

Good luck with your business this spring. We hope these suggestions will help you secure more listings!

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