Page 129 - Selling secrets 5 18 2023

the laws related to home-selling. It’s important to
understand your local market. What is the current situation
of supply-and-demand in your area? Is it a buyer’s market,
with a glut of homes from which buyers can choose? Or is it
a seller’s market, in which homes in the buyer’s price range
are in short supply?

Be aware that the real estate market can change quickly, so
educate yourself about current market conditions in your
area. Is a major development opening soon that will
increase the availability of local housing? Are there plans for
a school or retail area or highway or green belt that will
change the complexion of your neighborhood? Does a
major employer plan to shut their doors and transfer
hundreds of workers out of state? Did your city government
approve a new master plan for your area?

If you’re unaware of developments that could have a deep
impact on your sales prospects, you’re conceding a
significant advantage to a better-informed buyer. Stay
abreast of local news, especially the news in the business
and real estate sections of your local newspaper. Here again,
a knowledgeable real estate agent can be of inestimable
value by staying on top of current plans and trends.

NOT SPEAKING THE REAL ESTATE LANGUAGE

Knowledge extends to real estate terms, too. Don’t allow
yourself to be dazzled by a buyer who is more fluent with
real estate terms than you are. At the very least, study a
glossary of real estate terms and do some research of the
concepts you find confusing. A trusted real estate
professional is always a good place to start. Remember,
knowledge is power.

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