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The Earl Report

3 Tips When Selling Your Home in a Buyer's or Seller's Market

by Kent Earl

3 Tips When Selling Your Home in a Buyer's or Seller's Market

Selling Your Home in a Buyer’s Market

If you’ve heard the term “a buyer’s market” and aren’t sure what it means, let me clarify. A buyer’s market means that conditions are more favourable for buyers than sellers. This will usually happen when there’s a glut of real estate in Lethbridge. More homes available means that buyers can be more choosy and they’re in a better position to make lower offers when they find a home they like. When selling your Lethbridge home in a buyer’s market you want to be sure your home stands out for the right reasons – the asking price must be reasonable and your home must look its best.

Selling Your Home in a Seller’s Market

If you’re able to list your home in Lethbridge during a seller’s market you’re more likely to sell quickly and for a great price. Basically a seller’s market will usually occur when there are more buyers looking for homes than there are homes available. Lower real estate inventory means that sometimes you’ll have multiple buyers interested in buying your home and they will be competing against each other by making higher offers. Not only could you get a higher price but you can also dictate conditions of sale such as the completion date and which fixtures and fittings you will leave behind.

Be Realistic with Your Listing Price

One of the biggest reasons why certain homes in Lethbridge take a long time to sell is their listing price and this is why it’s so important to be realistic when setting the price point. As an experienced Lethbridge real estate agent I’m qualified to advise you of the best listing price by looking at comparable listings and sales in your neighbourhood. Sometimes the price I recommend may be lower than you had hoped, and, at the end of the day you make the final decision on your listing price, but, price it too high and the buyers just won’t come, leaving your home stuck on the market for an indefinite amount of time.