September Tide - Guy's Local Beach Real Estate Update

Hello Friends! I heard someone say the other day that it was now a “Seller’s market” again. I STRONGLY disagree, but it brings about a new dialogue over who holds the best cards right now, which indicates a healthy state of the local real estate market and is definitely worth discussing. Buyers will hold the higher cards for some time to come, but with multiple offer situations becoming more popular, time on market decreasing, etc., it is becoming important for Buyers to have their ducks in a row prior to finding a property, to act early and aggressively, and to be less of a bully, and more of an ally to the Seller with a common goal of a fair deal. That “fair deal” still lies in the favor of the Buyer, because prices are still low, and repairs, appraisals, services chosen etc. will continue to be determined by Buying parties. Whether it is the Buyer in contract or the one waiting in line,  if the transaction falls apart, Sellers know that Buying parties are still going to be expecting some control over the details. So while Buyers need to be more respectful of the fact that Sellers now have options, they still need to control the negotiation and insist upon getting every detail possible to lean in their direction. Choose a good Broker who knows how to defend every detail of the transaction, while doing so with grace and a spirit of cooperation, and you will see that this is very much still a Buyer’s market. That said, those of you considering selling need to be even more mindful with who you have handle the details. While Buyers still do, and should, expect more in every transaction, Sellers need to make sure they aren’t being bullied. Subtle signs of strength and patience at pivotal times during the transaction will go a long way in making sure you aren’t leaving anything on the table. Choose a Buyer to work with who really loves the property or has an extra motivation to close the transaction. This is the type of market where a good Broker really earns his/her money by defending yours. Choose a Broker with experience, insist upon attention to detail, and then trust in their experience. It’s been a gorgeous summer here at the beaches. The air is clear, the water is warm and the sunsets have been stunning. I hope you’ve been enjoying it! If not, close your web browser immediately and go get your toes in the sand!