Ryan Haley, owner and broker of Atlantic Shores Sotheby’s International Realty, offers his latest seller tips for October 2020, based on the current trends in the Ocean City and Delaware beach real estate markets.
As we move from summer into fall 2020, the real estate market has continued to increase and improve, demonstrating some of the lowest inventory levels since 2004 and 2005. With that, many of the properties hitting the market are going into a multiple-offer situation almost immediately.
Slow It Down
One tip Ryan wants to share with sellers is to wait a while before putting a price on the property.
At Atlantic Shores, we sit down with the seller to talk about the price, but we’re not actually putting a list price on that property until we go live. This is because based on the current market trends, prices are going up.
When it comes to the actual launch of the listing, it is important to consider setting a date when you will review all offers, which could be a week or two. When marketing the property, we build the hype and excitement, and we to make sure that the property is exposed to the most number of people. The more exposure the property gets, the better the chances of getting a higher price offer.
It would also be wise to give potential buyers some time to see the property because many of the buyers do not live in the area. So slow it down, give buyers from outside the state some time to get here to see the property for themselves, and present their offer. As a result, you could end up with multiple offers and even an escalation clause.
Ready to sell your home? Talk to us and we’ll be happy to help.