May 12, 2008
Time Is The Essence For Home Sellers And Buyers
Strategies have changed in the sluggish U.S. real estate for sure. Now home selling is converted to an activity of acute planning and execution of marketing skills and lethargy in any form is unaffordable. The realtors report that more than 80% of advertisements for sales of housing properties are carried through MLS listings, FSBO category and flat-fee brokerage listings.
This is directly attributed to the keen tussle among home sellers to get their properties noticed properly. Just some five or so years back, home selling was not this difficult and the home owners got what they wanted with regard to prices and dictated terms to buyers. Gone are those days now.
Similarly home buyers, particularly newly weds wishing to establish their future in a sweet home of their own, focus their attention more to MLS listings, FSBO category and flat-free brokerage listings to select their dream home. The offers are so many and because of this abundance in availability, much time is being wasted on the selection process. Open houses recently are filled with such indecisive lots more than what they were years back. Only serious contenders were in the fray then and the finalization of the deal finished without much loss of time.
According to real estate agents, who manage and interact in transactions of properties contained in MLS listings, FSBO category and flat-fee brokerage, time wasting is more apparent now a days. House hunters are pampered with an array of housing properties of different models even within a specified neighborhood. This causes distraction of their decision making power a lot too many.
On the other side, home sellers are yet to get up from the notions of the boom years, when homes fetched prices for the asking, more so an inflated one, arising out the circumstances obtaining then. So when a property listed in MLS listings, FSBO category and flat-fee brokerage listing remains unsold for many months, the main reason could be tracked down to over-pricing. The home owner will find it difficult to digest and before the realty strikes and he reduces the price to practical level, time gets oozed up.
From both the ends, wastage of time costs them dearer. The home buyer, because of the indecisive nature, loses very good opportunities coming to them, apart from testing the patience of the buying agent. The result will be obvious – to end up with a property that may not be squarely meeting the needs of the buyer – price and other contingencies-wise. Home sellers get frustrated and are forced to compromise with what is available when they are mentally ready. The lesson is – planning and execution is of utmost importance with a time management sense – for both sellers and buyers.
