Make sure your seller’s outlook reflects reality

by Marty Kramer   Unreasonable seller expectations can strain your relationship with a homeowner. This is true not only for price but for length of time to sell, too. You can head off this predicament by giving sellers the information they need to understand current market conditions. MLS reports on the number of days on the market or months of inventory give sellers some insight. You can also show prospects data from the Web site for the Real Estate Center at Texas A&M University (http://recenter.tamu.edu; click on Data > Home Sales). Any information about recent comps—the more the better—can provide sellers a clearer picture of the latest activity.

Sellers can benefit from knowing the average number of active buyers for similar properties. To approximate this number, first decide the price range and area for comparison. Then count the number of homes that meet those criteria sold over a period of months (could be three or six months or more). Divide the total number of sales by the number of months to estimate the current number of buyers of similar properties each month. Put this information in front of your seller and compare it to the total number of competing properties. Your buyer will understand the basic supply-and-demand dynamics in selling the home.

Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.texasrealtors.com.