What’s The Difference Between A Buyer’s Market And A Seller’s Market

By
Real Estate Agent with Royal Lepage Nanaimo Realty

What’s The Difference Between A Buyer’s Market And A Seller’s Market

One of the keys to selling Nanaimo real estate is to understand the difference between a buyer’s market and a seller’s market.

On a very basic level a buyer’s market means that a buyer holds the cards, and a seller’s market means that the seller has most of the control when selling a home in Nanaimo.

Nanaimo real estateBut to be successful in selling Nanaimo real estate, it’s important to understand how a buyer’s market is created and what conditions make a seller’s market.

Buyer’s Market

Here are some of the factors that can create a buyer’s market in Nanaimo real estate:

1.  Too many homes for sale in Nanaimo means a buyer feels they can take their time deciding which home to buy.

2.  Lower offers will be made if there is a lot of inventory on the market because a buyer will feel that there is less competition for your house.

3.  Motivated sellers.  In a buyer’s market, the word ‘motivated’ can often be substituted for ‘desperate’.  If a buyer feels that ‘motivated sellers’ are becoming the norm, she’ll be less inclined to make a fast, full price offer, and instead may take the wait and see approach.

Seller’s Market

You’ve seen how a buyer’s market can be created for Nanaimo real estate.  Now let’s take a look at what causes a seller’s market:

 1.  Demand outweighs supply.  There are more buyers than there are homes. Maybe a new employer is moving into town, maybe lending standards have been relaxed, or maybe more and more people begin looking at Nanaimo real estate as an alternative investment to stocks or bonds.

2.  Unique property.  In Nanaimo real estate it’s all about location. It’s possible to be in a buyer’s market, yet have some property within the market that are their own seller’s market. 

For example, your house may be in a high demand location or have unique features that will make sellers stand up and take notice, even when there are a lot of homes on the market.

To get the best value for your money in the Nanaimo real estate market it’s important to understand what causes a buyer’s market and a seller’s market, because knowing this will help you to negotiate the best possible deal for your Nanaimo home.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Bill Jones 04/18/2012 02:49 PM
Location:
British Columbia Nanaimo Area Nanaimo
Tags:
nanaimo home sellers
buyers
nanaimo real estate

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Rainmaker
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Sara Homan
Coldwell Banker Ellison Realty 352-209-4044 - Ocala, FL
Realtor, Homes, Farms & 55+

Hi Lynn,  Unfortunately in my area we have a very low inventory, low prices and not a huge demand.  Ugh!

Apr 18, 2012 02:45 PM #1
Rainmaker
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Bill Jones
Discovery Real Estate Ltd. - "Homes By Jones" - Airdrie, AB
Realtor (403-701-1739) Airdrie & Calgary Area Homes and Condos

Nice Post Lynn, very well explained here in Airdrie I explain it very much the way you have to prospective Buyers and Sellers, but I also mention the Level Market which here qwe consider to be 3 months worth of inventory for a period of 3 months.

Bill

Apr 18, 2012 02:47 PM #2
Rainmaker
1,090,425
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

This question comes up quite often.. and now there is a good explanation to share with buyers and sellers.

Apr 18, 2012 02:51 PM #3
Rainmaker
350,020
Inna Ivchenko
Mannis Real Estate Group - Calabasas, CA
Los Angeles / Valley Homes

I'm working with two very 'ready-willing-able' clients. We actually chasing houses in their price range. Unfortunately, even if we have full price offer for a ''right priced'' house, they  have 10 other offers lined up by the time they are ready to choose. I'm not sure what i'm against to, but buyers now become a little bit frustrated.....

May 09, 2012 12:29 PM #4
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Rainmaker
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Lynn Donn

Homes for Sale in Nanaimo BC
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