PETE SABINE & LESLIE WHITNEY PETE SABINE & LESLIE WHITNEY
  • ABOUT PETE & LESLIE
    • ABOUT OUR TEAM
    • About Pete Sabine
    • About Leslie Whitney
    • Hire the Right Realtor
  • BUYING
    • Consultation and Preparation
    • Home Loan Resources
    • Finding Your Next Home
    • Transaction Management
    • Home Purchase Questionnaire
    • How to Buy Before You Sell
  • SELLING
    • CONSULTATION AND PREPARATION
    • PRICING STRATEGY
    • MARKETING PROGRAM
    • VIDEO MARKETING >
      • HOME TOURS
      • LIFE STYLE VIDEOS
    • STAGING
    • HOME IMPROVEMENT LOAN
    • MARKETING UPDATE REPORTS
    • HOME SALE QUESTIONNAIRE
  • COMMUNITIES
    • ABOUT ALAMO
    • ABOUT ALHAMBRA VALLEY
    • ABOUT CLAYTON
    • ABOUT CONCORD
    • ABOUT DANVILLE
    • ABOUT LAFAYETTE
    • ABOUT LAMORINDA
    • ABOUT MARTINEZ
    • ABOUT MORAGA
    • ABOUT ORINDA
    • ABOUT PLEASANT HILL
    • ABOUT SAN RAMON
    • ABOUT WALNUT CREEK
    • COMMUNITY EVENTS >
      • National Night Out
      • Pleasant Hill Blues & Brews Festival
      • Pleasant Hill Summer Concert Series
      • Lindsey Wildlife Experience
      • CHRISTMAS HOLIDAY FUNDRAISER
      • Community Yard Sale Event
      • Home Buying Seminar
  • TIPS & TOOLS
    • REAL ESTATE PRO TIPS
    • Service Provider Directory
    • How to buy/sell book
  • CONTACT US

How to Sell a home in a Seller's Market

2/15/2021

0 Comments

 
How to sell your home in a hot sellers’ market.

What are the characteristics of a Sellers’ Market?

A “Sellers’ Market” trend is driven by
* a lack of supply of available homes for sale
* strong buyer demand for homes
* low home loan interest rates

The supply metric is 3 months or less of available homes for sale
based on closed sales activity. As an example, you divide the number of homes for sale by the number of homes sold in one month to determine the number of months of supply.

Another characteristic is the average Days on Market metric. If the average Days on Market is less than 30 days, this is another indicator of a Sellers’ market.

The List Price to Sold Price ratio is another indicator of a Seller’s Market.
Homes consistently sell quickly and above the List Price in a Seller’s Market.
 
How long will this trend last? 
Most likely through the first half of this year
and possibly through the remainder of 2022. Beyond then requires a crystal ball.

What is the formula for selling a home above the list price?
Preparation, Presentation and Pricing.
 
Obtain property inspection reports. Complete recommended repairs related to systems operation such as appliances, mechanical components, and safety hazards.
 
All Sellers want an AS-IS sale and most Sellers would love to avoid making repairs or repair concessions.

When you are selling in a Sellers’ Market, provide buyers with a Disclosure Package in advance of accepting an offer. 

The Disclosure Package includes property inspection reports and the required property disclosures completed by the Seller. The Disclosure Package creates transparency and provides useful information for a buyer to confirm the existing condition of the property.

In many cases, the Buyer is more willing to accept a home in AS-IS condition
if the Seller has provided accurate and qualified information about the condition of the home.

Include this provision with a purchase agreement:
“Any inspections performed by the Buyer are for information purposes only. There shall be no Seller repair concessions”
This provision emphasizes your intent and confirms the AS-IS nature of the purchase agreement with the buyer.
 
 
Obtain a proposal from a professional home staging company.
The proposal should include recommendations for interior and exterior paint colors, landscaping, light fixtures, flooring, plumbing fixtures, and cabinet hardware. 

Beware of Realtors who “self-stage” homes. Hire a professional with liability and workman’s comp insurance and controls their own inventory of staging furniture and accessories.

Follow the recommendations of the staging proposal to update your home.
Then have your home professionally cleaned including windows and tune up your landscaping.
 
Enhance the Presentation of the home for sale.
Hire a professional photographer and videographer to capture the essence of your home. Home buyers scan for homes online and your home must present well
with a high level of emotional appeal or most buyers will not make the effort to visit your home.

No showings equal no sale.
 
Price your home strategically.
Review recent Sold Properties that are nearby and “like-kind” in size, location, and condition characteristics. This data will set the current “fair market value” of your home.

Review Pending Properties of similar homes that recently went into escrow.
Focus on the List Price of these properties to provide insight of the price point that attracted buyers to make an offer.

Review Active Properties currently for sale in your targeted price range.
Determine how well your home will compete with homes priced 10 percent above and 10 percent below your target List Price.

Buyers base their decision to buy a home driven by its emotional appeal and supported by a perception of fair market value of the List Price when compared to other available homes for sale with similar qualities.
 
Create a condition for buyer competition to get the highest possible sales price.
Set an Offer Date to review purchase offers 7 to 10 days from your MLS debut date. The offer date strategy ensures that all buyers currently in the market will have a chance to view and bid to purchase your home. It sets the stage for multiple offers with offer prices above your List Price.

One of the best tools to use when you have more than one offer is the Seller Multiple Counter Offer.
If the Seller receives more than one offer, the Seller has the option of responding to more than one offer using a Seller Multiple Counteroffer.

The Multiple Counter Offer has a provision that requires the Seller to sign the Counteroffer one more time after the Seller receives the Counter Offer signed by a Buyer.

This allow a Seller to negotiate with more than one Buyer at the same time without being obligated to sell until one of the multiple counter offers is signed one more time after it is signed and accepted by a Buyer

The most important items to be included from a buyer with an offer:
  • Signed copies of all inspection reports and property disclosures
    provided by the Seller
  • Copies of recent bank statements as proof of their down payment
    and closing cost funds
  • A Copy of a Gift Letter if the Buyer is getting assistance
    with the down payment
  • A Loan Pre-Approval letter from the Buyer’s lender
    if a loan is needed to purchase
  • A Cover Letter from the Buyer’s Realtor that highlights
    the key features and Seller benefits of their purchase offer
  • A letter from the Buyer that confirms
    why this home is the best option for their needs
 
Some must have items in a loan pre-approval letter:
  • Be sure your loan letter states
    “verified income, assets, employment, credit and source of down payment
  • Make sure the letter is current. No more than 30 days old
  • The lender’s cell number and contact information
  • The maximum loan amount the Buyer is qualified to borrow
The loan letter should inspire confidence of the Buyer’s ability to obtain the loan stated in the offer.
 
The most valuable attribute to look for when hiring a Realtor to represent you: Hire a skilled negotiator. Your Realtor should have a proven track record.

We have been selling homes in your area since 1985 with over 1000 successful sales. There is no substitute for contract negotiation experience.
 
Hire us to win with us!
Leslie Whitney & Pete Sabine.  

To find out more about our real estate services and expertise go to
ourfivestarteam.com 

925.297.5335
Pete@PeteSabine.com
Compass
License #01866771
0 Comments



Leave a Reply.

    Author

    Pete Sabine
    Leslie Whitney

    Archives

    March 2023
    January 2023
    December 2022
    November 2022
    October 2022
    August 2022
    July 2022
    June 2022
    May 2022
    March 2022
    October 2021
    July 2021
    June 2021
    April 2021
    February 2021
    January 2021
    December 2020
    November 2020

    Categories

    All
    Real Estate Advice And Tips

    RSS Feed

FIVE STAR REAL ESTATE TEAM

Representing homeowners & buyers since 1985 with local real estate expertise and over 1000 successful real estate sale transactions, including Buyer Representation, Homeowner Representation, relocation transfers, Investor Representation and professional staging services.
Call or Text LESLIE
510-388-5794
Leslie@LeslieWhitney.com

​Call or Text PETE
925-787-2548

​Pete@PeteSabine.com

COMPANY INFO

San Francisco
​East Bay
Picture
FACEBOOK ICON
INSTAGRAM ICON
LINKEDIN ICON
YOUTUBE ICON
CONNECT WITH PETE
FACEBOOK ICON
INSTAGRAM ICON
INSTAGRAM ICON
YOUTUBE ICON
CONNECT WITH LESLIE

OFFICE LOCATION


QUICK LINKS

HOME

ABOUT PETE & LESLIE

BUYING

SELLING

COMMUNITIES

TIPS & TOOLS

CONTACT​


© PETESABINE.COM | PETE SABINE DRE#00889760 & LESLIE WHITNEY DRE#01950037 | ​201 Lafayette Cir #100, Lafayette, CA 94549 | COMPASS DRE #01527235
Site by WPF Creatives
  • ABOUT PETE & LESLIE
    • ABOUT OUR TEAM
    • About Pete Sabine
    • About Leslie Whitney
    • Hire the Right Realtor
  • BUYING
    • Consultation and Preparation
    • Home Loan Resources
    • Finding Your Next Home
    • Transaction Management
    • Home Purchase Questionnaire
    • How to Buy Before You Sell
  • SELLING
    • CONSULTATION AND PREPARATION
    • PRICING STRATEGY
    • MARKETING PROGRAM
    • VIDEO MARKETING >
      • HOME TOURS
      • LIFE STYLE VIDEOS
    • STAGING
    • HOME IMPROVEMENT LOAN
    • MARKETING UPDATE REPORTS
    • HOME SALE QUESTIONNAIRE
  • COMMUNITIES
    • ABOUT ALAMO
    • ABOUT ALHAMBRA VALLEY
    • ABOUT CLAYTON
    • ABOUT CONCORD
    • ABOUT DANVILLE
    • ABOUT LAFAYETTE
    • ABOUT LAMORINDA
    • ABOUT MARTINEZ
    • ABOUT MORAGA
    • ABOUT ORINDA
    • ABOUT PLEASANT HILL
    • ABOUT SAN RAMON
    • ABOUT WALNUT CREEK
    • COMMUNITY EVENTS >
      • National Night Out
      • Pleasant Hill Blues & Brews Festival
      • Pleasant Hill Summer Concert Series
      • Lindsey Wildlife Experience
      • CHRISTMAS HOLIDAY FUNDRAISER
      • Community Yard Sale Event
      • Home Buying Seminar
  • TIPS & TOOLS
    • REAL ESTATE PRO TIPS
    • Service Provider Directory
    • How to buy/sell book
  • CONTACT US