Navigating a Buyer's vs. Seller's Market

Let’s be honest: the real estate industry has its own set of lingo. For a lot of us, especially first-time buyers, it can be difficult to determine what all these terms mean and then how to act accordingly. Luckily, though, we’re here to do the decoding so that you don’t have to.

Today, we’re tackling the terms “buyer’s market” and “seller’s market” and helping you understand the differences, how it affects your chances of becoming a homeowner, and what you can expect from each type of market.

So, what’s a buyer’s market?

Just like the name suggests, a “buyer’s market” is traditionally used to refer to market conditions where the buyer has an inherent advantage over the seller. Typically, these are times when there’s plenty of housing inventory, and buyers seem to have their pick of available properties to choose from.

Since the market is flooded with homes to choose from, properties have a tendency to stick around longer. When that happens, sellers get nervous. The added pressure of potentially not being able to sell their home means that in buyer’s markets, sellers are often flexible on sale price.

As a buyer, you can use this uncertainty to your advantage to score a great deal on a home. Of course, you’ll want to do some research before deciding how far below asking you can reasonably offer. However, if you’re really looking to save, we recommend focusing on homes that have been on the market for a while or that have recently had a reduction in price.

How to survive a buyer’s market as a seller

From a seller’s point of view, a buyer’s market is not the ideal time to make a move. If getting as much value out of your home as possible is crucial to you, you may want to consider resisting the urge to uproot and wait for a more favorable moment.

That said, we understand that the decision of when to move may not always be under your control. Sometimes, new employment opportunities or family circumstances dictate that a move in less-than-ideal conditions.

However, even if that’s the case for you, there are still a few things you can do to help your property stand out from the crowd:

  • Boost that curb appeal, and consider high ROI upgrades: In this market, the most attractive homes go first (and to higher bidders). Before putting your home on the market, make sure it’s in peak condition by fixing any lingering maintenance issues, pumping up the curb appeal, and maybe even investing in a few affordable upgrades like fresh paint or new countertops.
  • Invest in top-notch photography: Listing photos offer potential buyers their first impression of the property. Make sure it’s a good one by investing in photography that presents your home in its most flattering light. This will ensure that buyers are clamoring to come see your home, rather than passing it over for more attractive options.
  • Price to sell: You don’t have to give up on making a profit from the start, but you should list your home at a price that remains competitive.
  • Be flexible: Be flexible when it comes to accommodating showings and to negotiating offers. The more people that are able to see your home, the more likely you are to find someone that’s interested. Then, when you’re ready to negotiate an offer, be sure to keep an open mind.

The flip side: homebuying in a seller’s market

On the other hand, in a “ seller’s market ” the seller inherently has an advantage over the buyer. This is where housing inventory has a tendency to be few and far between, leading sellers to have a greater pool of interested buyers to choose from — and, driving housing prices up.

In this case, since housing inventory is so low, houses that do go on the market tend to get a lot of attention. There’s a strong chance that sellers will have multiple offers to choose from, and, because of that, available properties tend to go under contract very quickly at or above asking price.

The good news is, as the seller, there’s not much you need to do to take advantage of this situation. For the most part, you’re free to sit back and let the offers come to you. However, in order to put yourself in the absolute best bargaining position, it never hurts to make sure that your property is in top shape before listing it for sale.

Staying competitive in a seller’s market

As a buyer, scoring a property in a seller’s market can feel a lot like jumping through hoops. You have move fast, negotiate generously, and even when you’re on top of it, you may have to submit a few offers before yours is selected.

Don’t lose hope, though. All it takes is a little planning and forethought to get your offer moved to the top of the pile:

  • Have your paperwork ready: When you find a home you love, you won’t want to have to wait on financial paperwork before submitting an offer. Do yourself a favor, and  apply for pre-approval first . That way, you’ll be ready when the time comes.
  • Shop during off-peak seasons: Skip the  infamous Spring market  in favor of a quieter time to shop for a home like back-to-school time or  over the holidays . You’ll face much less competition.
  • Stay alert: Use the Open Listings app to get alerted the minute a property that matches your search hits that market, so you can get in on the action early.
  • Schedule house tours ASAP: Once a property you like becomes available, it probably won’t last long. Make sure you give yourself an opportunity to get in on the action by going to see it as soon as possible, even if it means being a little flexible in other areas of your schedule. In this case, it’s better safe than sorry.
  • Write a strong offer: Unfortunately, a seller’s market is not the time to try and score a deal. Ask yourself how upset you’ll be if you lose out on this house, and then write your offeraccordingly. If you really love it, don’t be afraid to go in above the asking price — and be sure to write a winning offer letter.

This article originally appeared on OpenListings.

Deb Rhodes Chatham Kent Homes 4 SaleThanks so much for taking the time to read my Blog. If you require more information on buying or selling a home please give me a call. I was born in and am native to Chatham, Ontario. I began my real estate career in 1989, I have been a member of the MLS Chatham-Kent Real Estate Board since 1989. I joined the Royal LePage Sales Team in 2001. I’ve been helping my clients buy and sell homes in the Chatham-Kent area for over 25 years. Give me a call today at (519) 401-5470 for a free, no-obligation consultation.

Thanks, Deb Rhodes  

Look me up on Twitter @ckhomes4sale

592 thoughts on “Navigating a Buyer’s vs. Seller’s Market: What’s the Difference?

  1. Pingback: www.thefate.org
  2. Pingback: forum profile
  3. Pingback: Kinsley
  4. Pingback: www.1poker99.com
  5. Pingback: www.cialisis.org
  6. Pingback: qiuqiu99
  7. Pingback: duratrans
  8. Pingback: fowling las vegas
  9. Pingback: New World Amazon
  10. Pingback: Talia
  11. Pingback: installation guide
  12. Pingback: hondaqq
  13. Pingback: Weekly episodes
  14. Pingback: kompasqq
  15. Pingback: wede qq
  16. Pingback: elangqq login
  17. Pingback: Jurnee
  18. Pingback: ignou synopsis
  19. Pingback: dang ky fun88
  20. Pingback: porn
  21. Pingback: viagra uk order
  22. Pingback: Get viagra
  23. Pingback: cialis 20 mg
  24. Pingback: levitra vs cialis
  25. Pingback: how much is cialis
  26. Pingback: Viagra pfizer
  27. Pingback: Buy now viagra
  28. Pingback: albuterol inhaler
  29. Pingback: viagra
  30. Pingback: cialis price
  31. Pingback: naltrexone tablet
  32. Pingback: cialis price
  33. Pingback: viagra generic
  34. Pingback: buy careprost
  35. Pingback: how much is cialis
  36. Pingback: viagra 100mg
  37. Pingback: viagra 100mg
  38. Pingback: viagra 100mg
  39. Pingback: buy ed pills
  40. Pingback: cheapest ed pills
  41. Pingback: rx pharmacy
  42. Pingback: online pharmacy
  43. Pingback: Buy cheap cialis
  44. Pingback: cialis online
  45. Pingback: vardenafil usa
  46. Pingback: levitra generic
  47. Pingback: buy vardenafil
  48. Pingback: cialis for sale
  49. Pingback: slot machine games
  50. Pingback: bimatoprost goodrx
  51. Pingback: cash loan
  52. Pingback: personal loans
  53. Pingback: payday loans
  54. Pingback: online casinos usa
  55. Pingback: cialis generic
  56. Pingback: real online casino
  57. Pingback: cialis 20
  58. Pingback: new cialis
  59. Pingback: cialis to buy
  60. Pingback: cialis buy
  61. Pingback: casino world
  62. Pingback: gambling casino
  63. Pingback: canada viagra
  64. Pingback: sildenafil 100mg
  65. Pingback: discount viagra
  66. Pingback: viagra generic
  67. Pingback: generic sildenafil
  68. Pingback: generic viagra
  69. Pingback: buy viagra generic
  70. Pingback: Viagra 25mg cost
  71. Pingback: Viagra 50mg pills
  72. Pingback: sildenafil pills
  73. Pingback: Viagra 25mg online
  74. Pingback: Cialis 20mg tablet
  75. Pingback: buy generic cialis
  76. Pingback: Cialis 20mg price
  77. Pingback: cost of lasix 40mg
  78. Pingback: generic viagra
  79. Pingback: canadian viagra
  80. Pingback: actos 15 mg tablet
  81. Pingback: aldactone 25mg uk
  82. Pingback: amaryl 4 mg cheap
  83. Pingback: antabuse 250mg nz
  84. Pingback: arava 10mg tablet
  85. Pingback: tadalafil
  86. Pingback: cialis 20mg uk
  87. Pingback: buy cheap viagra
  88. Pingback: Biaxin 500 mg nz
  89. Pingback: cialis info
  90. Pingback: viagra vs levitra
  91. Pingback: cialis for sale
  92. Pingback: casodex tablets
  93. Pingback: viagra low price
  94. Pingback: celexa 20mg canada
  95. Pingback: ed treatment drugs
  96. Pingback: claritin pharmacy
  97. Pingback: slot games
  98. Pingback: real casino games
  99. Pingback: slot machine games
  100. Pingback: generic cialis
  101. Pingback: casino gambling
  102. Pingback: casino slots
  103. Pingback: safecar insurance
  104. Pingback: buy cialis usa
  105. Pingback: top car insurance
  106. Pingback: buy cialis usa
  107. Pingback: cialis miami
  108. Pingback: cbd oil for cancer
  109. Pingback: broadway viagra
  110. Pingback: buy levitra 10 mg
  111. Pingback: cbd in marijuana
  112. Pingback: Buy now viagra
  113. Pingback: web assign utah
  114. Pingback: Order viagra us
  115. Pingback: Brand name viagra
  116. Pingback: combivent pharmacy
  117. Pingback: usa cialis online
  118. Pingback: cialis online
  119. Pingback: coumadin uk
  120. Pingback: cheap viagra
  121. Pingback: order dapsone caps
  122. Pingback: ddavp cheap
  123. Pingback: depakote tablet
  124. Pingback: diltiazem tablets
  125. Pingback: elavil 50mg price
  126. Pingback: cheap Cipro
  127. Pingback: hyzaar australia
  128. Pingback: imdur medication
  129. Pingback: buy tadalafil
  130. Pingback: imitrex generic
  131. Pingback: click over here
  132. Pingback: indocin 25mg cost
  133. Pingback: viagra for sale
  134. Pingback: luvox 100mg nz
  135. Pingback: macrobid 100mg nz
  136. Pingback: cheapest meclizine
  137. Pingback: men's ed pills
  138. Pingback: mestinon nz
  139. Pingback: canadian viagra
  140. Pingback: Aciclovir
  141. Pingback: canada drugs
  142. Pingback: prevacid online
  143. Pingback: prilosec 40mg otc
  144. Pingback: viagra
  145. Pingback: price of viagra
  146. Pingback: pulmicort usa
  147. Pingback: purchase bactrim
  148. Pingback: benadryl australia
  149. Pingback: risperdal cost
  150. Pingback: robaxin prices
  151. Pingback: tenormin pharmacy
  152. Pingback: buy valtrex 500 mg
  153. Pingback: vantin purchase
  154. Pingback: verapamil 40mg nz
  155. Pingback: wellbutrin pills
  156. Pingback: zanaflex price
  157. Pingback: zithromax prices
  158. Pingback: his explanation
  159. Pingback: cheap zocor
  160. Pingback: sildenafil nz
  161. Pingback: furosemide pills
  162. Pingback: escitalopram price
  163. Pingback: glimepiride prices
  164. Pingback: meclizine uk
  165. Pingback: leflunomide cheap
  166. Pingback: viagra
  167. Pingback: cheapest buspirone
  168. Pingback: citalopram uk
  169. Pingback: cialis mail order
  170. Pingback: generic cialis
  171. Pingback: buy viagra cialis
  172. Pingback: cialis cheap
  173. Pingback: order rosuvastatin
  174. Pingback: divalproex cost
  175. Pingback: buy sildenafil
  176. Pingback: viagra generic
  177. Pingback: 141genericExare
  178. Pingback: tadalafil
  179. Pingback: ixflbpbf
  180. Pingback: axgdrrhy
  181. Pingback: buy cialis toronto
  182. Pingback: viagra from india
  183. Pingback: glipizide 10mg otc
  184. Pingback: furosemida 40 mg
  185. Pingback: clindamycin price
  186. Pingback: isosorbide prices
  187. Pingback: suprax capsules
  188. Pingback: cefixime for sale
  189. Pingback: zyvox capsules
  190. Pingback: п»їcialis
  191. Pingback: comprar viagra
  192. Pingback: viagra 75mg usa
  193. Pingback: digoxinmg generic
  194. Pingback: furosemide price
  195. Pingback: gemfibrozil cost
  196. Pingback: clotrimazole uk
  197. Pingback: п»їviagra pills
  198. Pingback: clomid dosage
  199. Pingback: college essay help
  200. Pingback: buy ed drugs
  201. Pingback: neurontin pills
  202. Pingback: cheap custom essay
  203. Pingback: mail order cialis
  204. Pingback: neurontin seizure
  205. Pingback: webmd metformin
  206. Pingback: metformin and beer
  207. Pingback: paxil for children
  208. Pingback: internet pharmacy
  209. Pingback: order clomid
  210. Pingback: propecia prices

Comments are closed.