{"id":69615,"date":"2020-07-14T13:01:00","date_gmt":"2020-07-14T20:01:00","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=69615"},"modified":"2020-12-07T13:23:17","modified_gmt":"2020-12-07T21:23:17","slug":"how-to-take-advantage-of-a-sellers-market","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/how-to-take-advantage-of-a-sellers-market\/","title":{"rendered":"How to Take Advantage of a Seller\u2019s Market"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Any seasoned real estate agent or market observer will tell you that all real estate markets go through cycles. Your local market is no different. If you&#8217;re considering a home sale or purchase, you\u2019ll want to identify your market&#8217;s cycle to take advantage of the best timing for buying or selling. Whether you are looking to buy a <\/span><a href=\"https:\/\/www.redfin.com\/city\/11458\/FL\/Miami\/condos\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">condo in Miami, FL<\/span><\/a><span style=\"font-weight: 400;\"> or sell your home in <\/span><a href=\"https:\/\/www.redfin.com\/city\/30756\/GA\/Atlanta\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/a><span style=\"font-weight: 400;\">, knowing your market is very important.\u00a0<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-69617 size-full\" src=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr.jpg\" alt=\"Seller's Market house \" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr.jpg 1200w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr-300x200.jpg 300w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr-1024x683.jpg 1024w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr-768x512.jpg 768w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr-225x150.jpg 225w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr-945x630.jpg 945w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2020\/07\/2849-SE-Elliot-Dr-450x300.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">A seller&#8217;s market is prevalent in your area when these factors are in place:<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><b>Inventory of available homes is low.<\/b><span style=\"font-weight: 400;\"> There are fewer homes for sale than the number of buyers looking to buy. In this market, home listings don&#8217;t stay on the market long because competitive offers come in quickly.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Interest rates are low.<\/b><span style=\"font-weight: 400;\"> Low mortgage rates bring more buyers into the market, creating an opportunity for <a href=\"https:\/\/www.redfin.com\/guides\/first-time-home-buyer-guide\" data-wpel-link=\"exclude\">first-time homebuyers<\/a> as well as for those looking for an upgrade. These low rates allow buyers to buy something special. Buyers who are wondering <\/span><a href=\"https:\/\/www.redfin.com\/how-much-house-can-i-afford\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">how much house they can afford<\/span><\/a><span style=\"font-weight: 400;\"> may be looking to buy now because interest rates will be low and they may be able to afford more than they thought.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Buyer\u2019s demand is strong \u2014 bidding wars are up<\/b><span style=\"font-weight: 400;\">. When there is a housing shortage and inventory is low, more than one interested buyer causes the sales price to rise before the seller accepts the offer. These <a href=\"https:\/\/www.redfin.com\/blog\/tips-to-win-bidding-war-on-house\/\" data-wpel-link=\"exclude\">bidding wars<\/a> are happening all over the country, and sellers can take advantage of the buyer\u2019s demand. Bidding wars keep the prices strong and homes sell quickly and possibly for more money.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Tips for home sellers to make the most of a seller&#8217;s market\u00a0<\/span><\/h2>\n<p><b>Be smart about your sales price<\/b><span style=\"font-weight: 400;\">. Some people may try to capture maximum profit from their home in a <\/span><span style=\"font-weight: 400;\">seller&#8217;s market<\/span><span style=\"font-weight: 400;\"> by pricing their home at the very top of the range. While this tactic could work, your home is more likely to sit on the market longer than lower-priced counterparts. If your price is too high, you may have to make price adjustments before you finally sell. This could cause your home to sell for less than you wanted.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other end of the spectrum, if you price your home too low, hoping for a bidding war that never comes, you may have to accept less than you could have received. Talk with your real estate agent to get comparable sales prices or &#8220;comps&#8221; for your area. Having a good idea of how you should price your home according to the market can put you in an excellent position to sell your home quickly.\u00a0\u00a0<\/span><\/p>\n<p><b>Stage your home.<\/b><span style=\"font-weight: 400;\"> By eliminating clutter, removing excess items or furniture, neutralizing colors, and putting away most personal items, you present an opportunity for the buyers to visualize themselves living in the home. They can imagine their sofa where your sofa sits now. They get a feel for the size of the rooms and how to use the space. Hiring a professional stager can be a worthwhile investment, especially if it&#8217;s been a while since you&#8217;ve updated your home. The stager brings in neutral, modern, furniture, and accessories to give the house just the right look for today&#8217;s buyers. Staged homes have been shown to sell <\/span><a href=\"https:\/\/themortgagereports.com\/18516\/home-staging-mortgage-sale-craig-berry#:~:text=Through%20a%20process%20known%20as,than%20their%20non%2Dstaged%20counterparts.\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\"><span style=\"font-weight: 400;\">73% faster than empty homes<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><b>Choose the right &#8220;go-live&#8221; day for your listing.<\/b><span style=\"font-weight: 400;\"> Thursdays are the <\/span><a href=\"https:\/\/www.redfin.com\/blog\/best-day-to-list-your-home-for-sale-2019\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">best day to go live with a listing<\/span><\/a><span style=\"font-weight: 400;\">. This timing allows buyers to tour homes over the weekend and attend open houses for the newest homes on the market. Make sure your listing has high-quality images, a virtual or 3d interactive tour, or videos to showcase the house in the best light. Your go-live day can mean the difference between a quick sale or sitting on the market for an extra week.\u00a0<\/span><\/p>\n<p><b>Be ready to move.<\/b><span style=\"font-weight: 400;\"> Many buyers don&#8217;t want to wait to move in. If you receive a strong offer, be prepared to move out in 30 days. That means if you haven&#8217;t secured your next home, you will need to store furniture in a <a href=\"https:\/\/bargainstorage.com\/plano-bargain-storage\/units\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\">storage<\/a> <a href=\"https:\/\/bargainstorage.com\/dallas-bargain-storage-northwest\/units\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\">unit<\/a> and potentially rent an apartment or hotel room until you can move into your new home. If the market is hot, you should be ready for a quick sale. If you already have a new home to move into, consider hiring a trusted moving company ahead of time so you can have a game plan for move out day.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Properly analyze your offers. In a seller&#8217;s market, a competitive listing generates multiple offers. Be prepared to look closely at various offers to determine the best one for you. Keep in mind that not all offers are the same.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Any seasoned real estate agent or market observer will tell you that all real estate markets go through cycles. Your local market is no different. If you&#8217;re considering a home sale or purchase, you\u2019ll want to identify your market&#8217;s cycle to take advantage of the best timing for buying or selling. Whether you are looking [&hellip;]<\/p>\n","protected":false},"author":521,"featured_media":69617,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[34279],"tags":[3991,4007],"coauthors":[27616],"class_list":["post-69615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-selling-a-home","tag-home-seller-tips","tag-home-buyer-tips"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Take Advantage of a Seller\u2019s Market - Redfin<\/title>\n<meta name=\"description\" content=\"If you&#039;re considering a home sale or purchase, do your research and read this article to help you take advantage of a seller&#039;s market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/blog\/how-to-take-advantage-of-a-sellers-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Take Advantage of a Seller\u2019s Market\" \/>\n<meta property=\"og:description\" content=\"If you&#039;re considering a home sale or purchase, do your research and read this article to help you take advantage of a seller&#039;s market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/blog\/how-to-take-advantage-of-a-sellers-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin | Real Estate Tips for Home Buying, Selling &amp; 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