’” She prods clients to make offers below asking instead of waiting for sellers to reduce prices. ![]() Buyers “hold off, thinking, ‘You know what? We’ll wait for them to drop. Michelle Doherty, a Realtor in northern Virginia, notices the same thing. This is especially true of millennial and Generation Z buyers, he said, who are more comfortable viewing and making offers on houses for which the sellers have set a “justifiable price.” “Home buyers will ignore homes which are perceived as overpriced,” Chuck Vander Stelt, a Realtor in Valparaiso, Indiana, said in an email. ![]() That strategy isn’t ideal when selling to today’s first-time buyers. Negotiate with a buyer who offers less than you expect to get.List it for substantially more than your target price.Here’s the time-honored way to sell a house: Sunday.’ Now that language has disappeared.” “Or you had people putting in offer deadlines saying, ‘Please submit all offers by 4 p.m. Not long ago, it was common to list a property on Tuesday and sell it by the weekend, says Terri Robinson, a Realtor in Ashburn, Virginia. Homes for sale in June received an average of 3.4 offers, down from 4.4 offers in June 2021, according to the National Association of Realtors’ monthly Confidence Index. Sellers felt confident of getting multiple offers in 2021, but they receive fewer offers now. Homes are also taking longer to sell: According to real estate brokerage Redfin, 61.2% of homes for sale in July were on the market at least 30 days, compared with 54.4% in July 2021. It’s still a seller’s market, in which would-be buyers outnumber sellers, but it isn’t as imbalanced as it used to be, because mortgage rates skyrocketed this year and pushed homes past the point of affordability for some. Higher rates = fewer buyers and fewer offers ![]() Here are home-selling suggestions from real estate agents. Buyers are taking more time, and they’re getting picky. But those recommendations have grown stale: Homes are receiving fewer offers amid slowing sales. Last year’s home-selling advice consisted largely of tips for choosing the best offer.
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