Jul 10, 2019

A Seller’s Guide to Navigating a Slowing Market

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-Drew Grossklaus, Sales Director/East Cooper BIC

Historically the real estate market has ebbed and flowed, favoring buyers and sellers at different times. Over the past several years Charleston has demonstrated a positive trend for sellers with a high volume of sales at increased prices. However, this year we have seen a downward trend in the Charleston real estate market. It is now taking longer to sell a home in Charleston, especially at higher price points. This trend makes the home selling process difficult for homeowners who are aware of the strong past history of sales and now are faced with a slowing market.

In a slower real estate market, working with an experienced real estate agent and company ensures your home’s exposure to the most qualified buyers. Experienced agents will take time to complete your home evaluation correctly, which is critical in a slowing market. Agents working through the home evaluation process take many points of data into consideration to understand changes in the market, recent feedback if the property is currently listed, and comparable properties for sale. The data garnered from this evaluation leads to the next important step of planning to put your home on the market. After the home evaluation is complete, a selling plan is established that includes the timing of marketing, price changes, competition review and more. A knowledgable agent is always executing or evaluating points of the selling plan to ensure the best outcome for their client.

It is also important for sellers to remember that during slower times in the market, every showing is important. The idea of cleaning and decluttering your home, making arrangements for pets and having to vacate your home during showings can be daunting, but creating a wonderful first impression for potential buyers is crucial to selling your home and makes the hard work worth it.

The final key to selling your home in a slowing market is patience. Selling a home can be a stressful time and the wait can prove difficult, but with the right agent and agency you can trust their process and know that they are working tirelessly to sell your home. While there is no guaranteed formula to sell your home (watch out for those false billboards), with a thorough home evaluation, proper planning and working with an experienced agent, you will give yourself the greatest advantage.

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