After last year’s slow market, Buyers are slowly returning to the market. Slow markets can be frustrating, but they also may hold hidden gems and untapped potential if we know how to navigate them with skill.
3 Tips on How to Take Advantage of a Slow Market for Buyers and Sellers →
For Buyers:
1. Be patient and strategic –
In a slow market, buyers have the advantage of time. Take advantage of this by researching properties.
BUT do not become paralyzed
2. Find what is negotiable..for the seller – In a slow market, sellers may be willing to negotiate. Find what is negotiable for the seller.
3. Focus on long-term value-
Look for properties in desirable locations with good potential for appreciation over time. BUT remember, no one has a crystal ball.
For Sellers:
- Price competitively- Pricing your home appropriately – FROM THE VERY START – is crucial in a slow market. Research recent sales and market trends to set a realistic and competitive price.
2. Enhance curb appeal and staging – Enhance curb appeal by maintaining a well – manicured exterior & “photo- worthy” interior.
3. Get your Home out there – Understand that Buyers are shopping in a high interest rate environment; be ready to negotiate.