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In a Hot Seller’s Market, Do I Still Need a Realtor?

In a hot Seller’s market, potential Sellers may ask themselves, “Do I still need a Realtor to assist with the sale of my home?”

At the time of writing this post in March 2021, Victoria’s housing market was showing no signs of slowing down. Three factors were present: limited inventory, low interest rates, and unprecedented Buyer demand for detached homes.

These three factors can “tip the scales” in favour of Sellers, which is exactly what happened in Victoria and across Canada.

With that in mind, here are four reasons why working with an experienced Realtor is crucial in a hot Seller’s market.

In-Depth, Real-Time Market Analysis

In an active Seller’s market, there are a large number of transactions taking place daily. For the average consumer, tracking these sales on real estate sites is difficult, if not near impossible.

A diligent Realtor will keep you informed of new listings and recent comparable sales in your neighbourhood. This will give you insight into real-time market values that may impact the sale price of your home.

Full Market Exposure in a Hot Seller’s Market

Listing on the Multiple Listing Service (or MLS®) remains the best way to reach the largest cohort of Buyers. In addition, a comprehensive marketing plan will ensure your property is promoted across multiple channels.

If your property is on the MLS®, it will also be displayed on Realtor.ca, REW, and the individual sites of countless agents in your area. In Victoria, active listings are shared through the VREB Reciprocity program.

Guidance from Pre-Listing to Closing

When the market is hot, things move fast, sometimes even faster than anticipated.

That’s why it’s even more important that a Realtor guides you through the selling process, communicates honestly and openly with you, and discusses expectations from the start.

I cannot stress the importance of managing expectations. Sellers should have a clear idea of all potential outcomes during a listing, not just the best or most desired outcome. After all, over-active markets are dynamic and oftentimes unpredictable.

Help Navigating a Purchase and a Sale

Looking to buy and sell on the same timeline?

For many people in a hot market, buying before selling makes the most sense, while others feel more comfortable selling first. A Realtor will help you navigate both ends, line up closing dates, and provide professional contacts to ensure a smooth transition.

Getting a sense for other properties currently listed on the market is a great place to start.

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Is Now the Right Time to Sell?

Before listing, it’s imperative you have an in-depth understanding of the current market and your property’s projected market value.

Start with a free, no-obligation market valuation for your property today.

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