The election season often causes a temporary pause in real estate activity, with both buyers and sellers adopting a "wait-and-see" approach. However, as stability returns, agents often see a shift in market dynamics - typically in favor of sellers. Here's how agents can prepare and take advantage of a post-election market boost.
Why Post-Election markets Can Favor Sellers
When election results finalize, several factors can push the market toward a seller's advantage:
Economic Stability & Interest Rates
Post-election, economic policies usually bring stability, and interest rates may adjust to support new policies. Lower rates encourage buyers to re-enter the market, raising demand and strengthening the seller's position.
Reduced Inventory
Many sellers hold of on listing during election periods, so once activity resumes, inventory is often lower. Limited supply can create competitive conditions, increasing property values and allowing sellers more leverage in negotiations.
Steps Agents Can Take To Prepare
Now is the perfect time for agents to ready themselves for a shift in the market. Here's how to stay ahead:
Build Your Pipeline with Targeting Outreach
Re-engage with clients who may be waiting for the right moment to list. Let them know about the anticipated increase in demand and encourage them to get a head start on preparations. Position yourself as the expert by demonstrating that timing is key in maximizing sale prices.
Stay Updated on Market Trends
Being well-versed in both local and national trends gives agents an edge. Leverage tools that provide real-time data so you're prepared to discuss potential outcomes and set client expectations. Clients will appreciate your informed insights in uncertain times.
Use Data to Make Listings Stand Out
To attract buyers in a competitive environment, leverage data on property appreciation trends, local demand, and time-on-market to help your listings stand out. Position your listings as strong investments to appeal to the growing buyer pool.
Strengthen Your Negotiation Skills
As the market shifts, negotiation skills become crucial. Multiple offers may become common, and agents need to be prepared to guide sellers on when to accept an offer versus waiting for a better one. Building negotiation skills now will prepare you to secure the best outcomes for your clients.
Provide Transparent Pricing
In a seller's market, buyers and sellers may encounter new commission expectations, with fewer concessions from listing agents. By outlining compensation details clearly, agents can help clients understand costs upfront, building trust and setting accurate expectations.
Field-Ready Transparency with PalmAgent's Commission Calculator
After a market shift, home buyers and sellers will seek out agents who provide clarity and transparency. PalmAgent's new commission Calculator empowers agents to illustrate compensation options clearly, building trust and enabling informed client decisions. With the right tools, you'll be ready for any market changes.