Helping Sellers MOVE in a Low Inventory Market

With inventory levels at record lows, more homeowners are reluctant to List their home because they don’t want to get into escrow and be unable to find their replacement property in time.   It’s almost impossible to get a contingent offer accepted and even if you do, the Seller only has 45 days to find the right home in a market that does not provide much of a selection.  It can take 6 months or more to find the right home when selection is so low.  How do you advise Homeowners dealing with this challenge?  Is now really a good time to Buy if you have to Sell?   Here are some options.

1.  Rent Backs give the Seller a 45 day escrow plus another 30 days to find their new home.  This may be a solution for some, but still leaves some uncertainty and a narrow window to find the right home.

2.  Know why it’s important to move now.  The risk is worth the reward.  The reason to move now is because interest rates make your next home affordable.   As the interest rate rises, that dream home will become unfordable, not because of the price, but because of the payment.

3.  Pick your neighborhood.   If your Client can identify a specific neighborhood they want to live in,  you can mail or door knock that are and find a Homeowner who also needs time and arrange a Single Party Show.

4.  Show your client homes.  It’s hard to overcome the potential challenges of a move if the Seller has not yet fallen in love with other possible homes.   Eliminate as much uncertainty as possible by showing homes they could see themselves living in.  Nobody really wants to Sell their home, they want to move!  Focus on the need to move and and the joy a new home will bring.

4.  Make a double move.  A homeowner will be in the strongest position in a low inventory market if they stop fighting the idea of a double move, sell their home, and move into a rental.  This gives the Homeowner time to wait for the right home to come on the market and buy non-contingent.   The hassle is worth the reward.    Relocation clients frequently move this way because it actually allows them to make a more careful decision about where they want to live.

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