Ryan Haley's Seller Tip for October 2020: Slow the Process Down

Ryan Haley, owner and broker of Atlantic Shores Sotheby’s International Realty, shares some important tips to sellers this first week of October 2020. 

Based on the current trends in the Ocean City and Delaware beach real estate markets, moving from summer into fall, the real estate market is continually improving. The market is seeing some of the lowest inventory levels since 2004 and 2005. As a result, many properties are receiving multiple offers immediately.

Tips for Sellers

One tip that Ryan wants sellers to consider is waiting 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 listing until we go live. This is because prices are actually going up, based on the prevalent market trend. 

It is also wise to set a date, which could be one week or two, before reviewing all the offers. When we market the property, we make sure that it is seen by as many people as possible. This gives the property a better chance of getting a higher offer. 

Since many buyers do not actually live in the area, it's better to give them time to come to the area take a look at the property. So slow it down, give buyers some time to get here, see the property for themselves, and present their offer. As a result, you could end up receiving multiple offers and even an escalation clause. 

If you are ready to sell your home, talk to us and we’ll be happy to help.