Selling homes in 2021 has been the frenzy I predicted and more! As we wrap up the first quarter of this year, I want to reflect on the past three months.
We’ve been seeing listings fly off the market, receiving 5, 10, 15, even 20+ offers on any decent home with a decent price on it! The ratio of active listings to pending is nearly 1:1, and in many areas, the number of pending is 2x and 3x the number of homes for sale - this has never happened before! Mortgage rates increased by a half-point in the last three weeks, and it didn't change a thing!
As a listing agent, I juggle dozens of showings and carefully track the serious contenders to help me create a slow-motion auction later. Dealing with numerous offers can be overwhelming to some, but luckily I got my chops up when we were selling bank-owned properties and handled bidding wars every week. To achieve top dollar, I remain transparent to all the potential buyers’ agents, telling them my current highest offer and what it’ll take for them to win. It creates a fair auction: every offering party knows what’s needed to win and my seller gets the highest price possible - it’s a win-win! While it sounds like an obvious solution, virtually no other agent handles their listings this way - they just grab an offer and forget the rest.
To hear more about this frenzy we're delaying with and how long it'll last, click below: