• A Buyers’ Market
• Tips To Navigate A Buyers’ Market
• A Sellers’ Market
• Tips To Navigate A Sellers’ Market

As a real estate agent, you are likely familiar with the cyclical nature of the industry. The market fluctuates as demand and supply change, affecting buyers and sellers. In this article, we’ll discuss how you can maximise your real estate business in buyers’ and sellers’ markets.

What Is A Buyers’ Market?

In real estate, a buyers’ market is a situation in which there are more properties for sale than there are potential buyers to purchase them. This means that buyers have more negotiating power, as sellers may need to lower their prices or offer additional incentives to attract buyers.

In a buyers’ market, homes may sit on the market for longer periods of time, leading to increased competition among sellers. This may result in overall price levels coming down, as there is greater supply than demand in the market, making it an ideal time to purchase a property.

Tips To Make The Most Of A Buyers’ Market

1. Focus On Marketing Your Listings

You may notice your phone stop ringing during a buyers’ market. This is because there are a variety of listings for property seekers to choose from, so make sure yours stands out to bring calls in. Having high-quality, well-written listings gives you the best chance of capturing the property seekers’ attention. Using our TruCheck™ badge is sure to help you maximise your listing visibility and attract motivated and qualified buyers.

2. Share Advice On How Sellers Can Attract A Higher Price

In a buyers’ market, sellers are looking to fetch the best price possible for their homes. This is why sellers need to make their homes more attractive to buyers. Sharing advice on what improvements they can make to get a higher return on investment helps you act as a knowledgeable and trustworthy agent who is working to meet their needs.

3. Host First-Time Homebuyers Sessions/Clinics

With more buyers in the market, it’s an excellent time to focus on first-time homebuyers. Hosting clinics and sessions for them can help you reach out to a new market segment. At a first-time home buyer clinic, you can walk property seekers through the entire sales process, explain documents and paperwork and pitch how you will assist them at each touchpoint as their real estate agent. 

4. Focus On Building Your Personal Brand

A buyers’ market is the best time to increase your market awareness and focus on your personal brand. Consider experimenting with new marketing channels (email marketing, social media, content marketing) to see what performs best for your business. Look at what aspects of your personality you want to be associated with your career and plan your content and marketing material to align with the goals of your personal brand. 

What Is A Sellers’ Market?

A sellers’ market is when the demand for homes is greater than the supply. This means there are more buyers in the market than homes available for sale. In such a market, sellers have more negotiating power, and it’s an ideal time to sell a property.

A sellers’ market in real estate occurs when there are more potential buyers than available properties for sale. In this type of market, sellers have the advantage because they can demand higher prices and better terms due to the increased competition among buyers. In a sellers’ market, properties tend to sell quickly, and buyers may need to make higher offers or compete with multiple offers to secure a property. This type of market is usually characterised by low inventory, high demand from property seekers, and rising prices.

Tips To Make The Most Of A Sellers’ Market:

1. Focus On Prospecting

With the increased competition amongst buyers in the market, having a real estate agent at hand is essential to navigating the sales process, enquiries and potential bidding wars. This is where prospecting comes into play. By actively looking for buyers and sellers in the market, you can help match your buyers needs with your sellers’ properties giving you the potential to close more deals despite there being fewer homes for sale in the market.

2. Share CMAs With Potential Buyers

Comparative Market Analysis (CMA) is an essential tool to help you determine the right price for your client’s properties. In a buyers’ market, CMAs can help your buyer make informed property decisions by using data to compare the many properties up for sale in the market. 

Sharing a well presented CMA shows clients you understand current market conditions and acts as a marketing tool to attract potential clients. Looking through CMAs can help property seekers understand what fair market pricing in a changing market looks like, giving them the competitive edge to negotiate a strong offer with the seller. Check out our CMA template to help you get started.

3. Help Your Buyers Get Qualified And Pre-Approved

In a sellers’ market, listings move fast, and buyers need to act quickly. Helping them show that they are serious and motivated by carrying out lead qualification and getting their pre-approval will help them ensure they don’t miss out on their dream property. As a real estate agent, it is essential to educate your buyers on the nature of the market and what they can do to compete with other buyers. With sellers having more negotiating power, it is difficult for buyers to lower prices; however, presenting yourself as a serious buyer by having your down payment and paperwork ready will help a seller pick your offer. 

Real estate markets are constantly changing, and as a real estate agent, you need to adapt to these changes to maximise your business. Whether it’s a buyers’ or sellers’ market, these tips are sure to help you thrive in any market condition. For more tips and insights, check out our Content Corner. We also encourage you to register for a workshop at Bayut Academy, where our training team is dedicated to helping you acquire all the skills needed to succeed in the competitive UAE real estate market.