Thinventory...there is that word again...more Buyers than Sellers....houses disappearing from Active status to Active with with Offer in 24 hours or less. Buyers crossing fingers, raising prices above asking, writing letters to the Sellers promising to take good care of the house that they wish to call home. Being flexible with closing dates, offering earnest money with the offer at amounts far above what used to be considered "normal". Whatever it takes to get the Buyer's attention....and then....there are still Buyers....who just don't want to get into the "bidding wars" that are raging throughout the real estate landscape in southeastern Wisconsin.
Every transaction in which we had Buyers or Sellers...and others we have heard about from other agents...has had competition in recent history....in a variety of communities and price points.
If Buyers want a house they can call home...Agents need to have "The Talk"....help their Buyers adjust to what the Thinventory has done to the landscape of real estate...the new normal...more than one Buyer per property.
Sometimes....only sometimes...being available as quickly as possible, writing sharp offers with fast response times can help Buyers eliminate the bidding war competition.
Sometimes....it will take losing the house they wanted to call home...repeatedly before they realize that Buyers are not in control of the present market. It IS a Seller's Market.
Buyers and Sellers are never the ones to choose...the Market does the choosing...and smart buyers acknowledge that and adjust their attitudes....and their wallets.
If you or anyone you know is looking to Sell or Buy real estate in southeastern Wisconsin, call the Hansons, we are honored to be of service.