Experts Say Buyer, Seller Behaviors Changing – CBS Dallas / Fort Worth
FORT VALUE (CBSDFW.COM) – Real estate experts insist the market is not entirely cool or is returning to normal as northern Texas real estate has begun to cool off.
Still, experts say buyer and seller behavior is changing as the frenzy subsides.
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Jacqueline Schrock is a broker at REMAX Town & Country, providing tips on how buyers and sellers can recalibrate their strategies to trade in this softening market.
She advises sellers to get back to basics, which may not have been so necessary at the height of the market earlier this year.
She said, “If you’re a seller and want a top dollar for your home and want multiple deals, make sure you’ve done the job, waiting for some of the smart update buyers to do well, after that buyers are looking for. “
She says it’s also important to properly stage the house and price it well.
The days of astronomical list prices, she says, are over.
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She adds, “The price your neighbor charged their house 3 or 4 months ago may not be the right price today. So the price has to be right. “
So what about buyers?
Schrock said, “What I am telling buyers is that they want to focus on a home that is a well-maintained home that is well maintained and may require some cosmetic work, but they will get better prices for a home that is not the top dollar. “
She says there are many options opening up in this market segment.
She also suggests that buyers work closely with their brokers to research current trends in the neighborhood they are interested in to avoid over-bidding, adding, “Check out recent activity what’s happening . Have I seen the houses stay on the market a little longer? Do I see that the last sales are not as high above the list price as they were 3-4 months ago?
Buyers are also advised that now is a good time to reintroduce contingencies in their offerings that they were asked to wave earlier in the year just to stay competitive.
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Schrock added, “Go ahead and offer this option period, offer a loan instead of trying to pull the money together, and I see offers being accepted that are not quite as aggressive as they have been in recent months. “.”