The real estate market has most definitely shifted.
The market has been more “normal” the last few months that the last few years!
There is a LOT of opportunity right now for buyers and sellers- if you don’t ASSUME the market is a certain way based on what you hear in the media.
That only leads to heartache, frustration and lost opportunities.
Sellers- all is NOT lost, homes are still selling!! You WILL need to have your house properly and professionally marketed to garner top dollar.
Buyers - don’t assume sellers will accept an outrageously low price for their home. Yes with prices having slid and fewer buyers searching, you can negotiate price and conditions today and come to a favourable agreement. But the emphasis is on negotiation, and that’s best left to experienced professionals too.

BUYERS:

• Get pre-approved before initiating your home search. Knowing your budget and having a pre-approval in place will impact your ability to craft strong offers. We are still seeing multiple offers with some properties so it is ideal to have a firm offer, and a deposit cheque in hand.
• Given the relatively competitive market for homes in good areas that are priced to sell, it’s essential to work with an agent who knows the area and has good industry relationships.
• As we saw earlier this year, avoid trying to time the market. The right time to buy is when you have found the perfect house, knowing you can afford it. 

• Set your pricing expectations to today’s market. Homes that are priced well are seeing strong sales and, in several recent cases, are selling with multiple offers. Pricing and strategy are critical in today’s market.
• Put your home on MLS. While many sellers are tempted by exclusive listing offers, exposing one’s home to the broadest pool of potential buyers will aid in getting the highest possible price.
• The importance of marketing and advertising your property to the public and broker community cannot be understated, so choose a brokerage and agent with leading market share.

The current real estate market is not black and white. It’s nuanced. And there’s lots of wonderful transactions being facilitated… but the key to success is staying curious, open minded, and working with a professional experienced with a more balanced market!