{"id":12160,"date":"2018-10-30T14:37:29","date_gmt":"2018-10-30T20:37:29","guid":{"rendered":"https:\/\/www.virtuance.com\/?p=12160"},"modified":"2018-10-30T14:37:29","modified_gmt":"2018-10-30T20:37:29","slug":"navigating-buyers-sellers-market","status":"publish","type":"post","link":"https:\/\/staging.virtuance.com\/member\/blog\/navigating-buyers-sellers-market\/","title":{"rendered":"Navigating a buyer’s vs. seller’s market: what’s the difference?"},"content":{"rendered":"
Source: Open Listings Blog<\/a><\/em><\/h5>\n

Let\u2019s be honest:<\/strong> the real estate industry has its own set of lingo. For a lot of us, especially first-time buyers, it can be difficult to determine what all these terms mean and then how to act accordingly. Luckily, though, we\u2019re here to do the decoding so that you don\u2019t have to.<\/p>\n

\"buying_and_selling\"<\/a><\/p>\n

Today, we\u2019re tackling the terms \u201cbuyer\u2019s market\u201d and \u201cseller\u2019s market\u201d and helping you understand the differences, how it affects your chances of becoming a homeowner, and what you can expect from each type of market.<\/p>\n

So, what’s a buyer\u2019s market?<\/h2>\n

Just like the name suggests,\u00a0a \u201cbuyer\u2019s market\u201d<\/a>\u00a0is traditionally used to refer to market conditions where the buyer has an inherent advantage over the seller. Typically, these are times when there’s plenty of housing inventory, and buyers seem to have their pick of available properties to choose from.<\/p>\n

Since the market is flooded with homes to choose from, properties have a tendency to stick around longer. When that happens, sellers get nervous. The added pressure of potentially not being able to sell their home means that in buyer’s markets, sellers are often flexible on sale price.<\/p>\n

As a buyer, you can use this uncertainty to your advantage to score a great deal on a home. Of course, you\u2019ll want to do some research before deciding\u00a0how far below asking<\/a>\u00a0you can reasonably offer. However, if you\u2019re really looking to save, we recommend focusing on homes that have been on the market for a while or that have recently had a reduction in price.<\/p>\n

How to survive a buyer’s market as a seller<\/h2>\n

From a seller’s point of view, a buyer\u2019s market is not the ideal time to make a move. If getting as much value out of your home as possible is crucial to you, you may want to consider resisting the urge to uproot and wait for a more favorable moment.<\/p>\n

That said, we understand that the decision of when to move may not always be under your control. Sometimes, new employment opportunities or family circumstances dictate that a move in less-than-ideal conditions.<\/p>\n

However, even if that\u2019s the case for you, there are still a few things you can do to help your property stand out from the crowd:<\/p>\n