When selling and buying a house, timing is everything. As with most industries, the real estate market goes through ups and downs. Some of the most pronounced shifts are defined as buyer’s and seller’s markets. This guide will break down these two types of markets, so you can easily navigate each. 

Buyer’s Market?

A buyer’s market means that the supply of properties is higher than the demand. This shift causes homes to go down in price, giving the buyer an advantage. Since sellers are eager to sell their properties, they might settle for a lower offer than in a seller’s market. This also means that houses often stay on the market for longer. 

If you are buying a house in a buyer’s market, your real estate agent can help you navigate listings and negotiations. You may have less competition, and your offers will likely look more appealing. Sellers will need to find a balance between listing their homes at value and pricing them to sell. 

Seller’s Market?

Unlike a buyer’s market, the demand for properties exceeds the supply in a seller’s market. There are more buyers looking for homes than there are homes available. This gives sellers a clear advantage, allowing them to price their properties higher. Buyers will often need to bid above market value to secure an offer. 

Buyers in a seller’s market will need to work closely with a real estate agent to make offers quickly and compete with other parties. These professionals can make buying a house less stressful. Agents can help sellers sift through their offers and time the sale properly. This can help the homeowner earn as much as possible from the home. 

No matter the state of the market, JoAnn Meier at RE/MAX First Choice in Waterloo, IL, can help you with selling or buying a house. Whether you are looking for your first home or are downsizing for retirement, she has the experience and knowledge to guide you through the process. JoAnn and her team will list your home, schedule showings, and handle negotiations. To view available listings and learn more about their services, visit them online. You can also call (618) 939-6003 to schedule an appointment.