How Agents Can Guide Sellers Through the End of 2023

Sponsored Content Provided by Curbio

The 2023 housing market has provided its fair share of obstacles for buyers, sellers, and agents, but it isn’t over yet. The end of the calendar year is always subject to some seasonality, and the state of the market isn’t helping.

2023 has seen high interest rates, low inventory, and affordability issues in regard to home prices. The combination of all these factors is taking their toll on the market. While the market still has benefits for sellers, it is far from the booming seller’s market of the pandemic.

People who were able to capitalize on interest rates between two and three percent during the pandemic may now feel tied to those homes with golden handcuffs. As a result, many are not ready to sell when doing so means doubling their interest rates and their monthly mortgage payments. New construction also dropped during the pandemic and is now struggling to recover in line with demand. Finally, interest rates have increased and pushed some buyers out of the market.

As the winter months come fast approaching, the market could see a seasonal slow down as some sellers and buyers put their plans on hold until after the holidays. For agents who have a listing that needs moving, make sure clients are adapting to the market, for the sake of everyone involved in the transaction.

Managing Sellers’ Expectations

Sellers may be under the impression that with this housing shortage, they can sell as-is. They may even believe that they will field multiple offers or be able to waive contingencies like during the pandemic. This may not not the case.

It is important to manage their expectations from the beginning and consider playing the long game when it comes to winning clients in this environment. If an agent promises the moon and stars to win the listing in the beginning and cannot deliver, they may lose clients who would have provided a valuable pipeline of referrals. Instill trust in clients by making sure they know what to expect with the current market from the beginning so you can exceed their expectations, not struggle to meet them.

Setting Sellers Up for Success

On top of managing their expectations, agents still need to help sellers achieve their real estate goals, and most sellers want to get their house off the market quickly and for top dollar.

Although the housing shortage should only increase demand and give sellers even more of an advantage, this is not necessarily the case. Due to factors like high interest rates and high home prices, cash-strapped buyers might not have the money to make updates to these homes as well. So, while there are fewer homes to choose from, buyers are being especially selective with their purchase.

Because many buyers won’t even consider a home that isn’t move-in ready, an agent’s best option for helping maximize their sellers’ investment is to get them on board with pre-listing updates. Instead of neglecting deferred maintenance and fixes that would make the home move-in-ready to speed to list before the end of the year, it may be wise to take this time to fix up the listing instead.

Why would sellers be willing to spend out of pocket on a home they are intent on selling? Many sellers don’t have the cash to make pre-listing updates or simply don’t want to pour money into a home they are leaving. But, there is a solution. Curbio defers 100% of pre-sale updates until closing for homeowners. This approach helps sellers get their homes market-ready, so they can sell faster and for more.

For agents, partnering with Curbio may also help in winning listings. According to Curbio’s 2022 Home Improvement Report, 77% of homeowners said they would choose an agent who offered a pay-at-closing solution for pre-listing updates. And 68% of agents said they have won a listing by pitching Curbio. In today’s market, agents need every competitive edge they can get.

Curbio is the real estate agent’s go-to contractor. Not only can Curbio help prep listings for the market, but they also manage the entire project from start to finish, giving back time to agents and sellers. Curbio homes make for happy buyers because all projects, inspection repairs, and deferred maintenance are completed before move-in. And sellers don’t spend a dime until closing with no credit check, interest, or fees. Agents can learn more and get started with Curbio today.

The views and opinions expressed in this Sponsored Content are those of Curbio, not of RE/MAX, LLC.