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Switching Gears During a Buyer’s Market

hand holding a small model home while other holds out keysIf you have a home on the market you already know how long it can take to sell a home. There are many factors that go into how fast a home sells. The market temperature is definitely a huge factor. If you are having a hard time selling your home with your real estate agency it may be time to switch gears. At El Paso Homes Realty, we have a solution for the frustration you may feel.

Selling a Home During a Buyer’s Market

One of the most frustrating home selling situations you can deal with is selling a home during a buyer’s market. While it may not be impossible, it certainly is more difficult. A buyer’s market is distinguished by more homes on the market than buyers. Potential homeowners have a larger selection and a greater ability to negotiate price. A big mistake that a home seller or real estate agency end up making is overpricing a home during these market circumstances. A good agent will advise an accurate price for the home based on the home itself as well as other homes in the neighborhood. But, sometimes sellers will insist on the price they want not realizing they are only prolonging the sale. Often times they want to make back the money the poured into the home for upgrades or repairs.

There is a Better Way

First and foremost, it is never good to go against the advice of your real estate agency. If you are not in agreement with the listing price do not jump to conclusions. It is important to understand that there is expertise and knowledge that goes into listing the right price. Secondly, if your home has been sitting on the market for several months or even longer, it might be time to change strategies.

Instead of selling, renting the home out to tenants might be an excellent idea. The home can pay for itself while you pay a small percentage to a real estate agency or property manager. In the long run you will end up on top. You could possible have two homes paid off later on down the road. Another option is renting the home until the market changes pace. This is a great idea because your home will be paying for itself instead of using more incoming and waiting for the return.

Contact our Real Estate Agency Today

We take great pride in providing our clients with the solutions they are looking for. If you are trying to sell your home to no avail we can help. Whether you need help with the sale or want to switch gears to renting we have the expertise to get it done. Contact us today.

El Paso Homes Realty

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