“Today, the market’s changing, and buyers can usually be more selective and take more time to explore their options.”
Once you’ve made the decision to sell your house and have hired a real estate agent to help, they’ll ask how much access to your home you want to give potential buyers. Your answer matters more now than it did in recent years. Here’s why.
At the height of the buying frenzy seen during the pandemic, there was a rise in the number of homebuyers who put offers on houses sight unseen. That happened for three reasons:
- Extremely low housing inventory
- A lot of competition from other buyers wanting to take advantage of historically low mortgage rates
- And general wariness of in-person home tours during a pandemic
Today, the market’s changing, and buyers can usually be more selective and take more time to explore their options.
So, in order to show your house and sell it efficiently, you’ll want to provide buyers with as much access as you can. Before letting your agent know what works for you, consider these five levels of access you can provide. They’re ordered from most convenient for a buyer to least convenient. Remember, your agent will be better able to sell your house if you provide as much access to buyers as possible.
- Lockbox on the Door – This allows buyers the ability to see the home as soon as they are aware of the listing or at their convenience.
- Providing a Key to the Home – This would require an agent to stop by an office to pick up the key, which is still pretty convenient for a buyer.
- Open Access with a Phone Call – This means you allow a showing with just a phone call’s notice.
- By Appointment Only – For example, you might want your agent to set up a showing at a particular time and give you advance notice. That way you can prepare the house and be sure you have somewhere else you can go in the meantime.
- Limited Access – This might mean you’re only willing to have your house available on certain days or at certain times of day. In general, this is the most difficult and least flexible way to show your house to potential buyers.
As today’s housing market changes, be sure to work with your local agent to give buyers as much access as you can to your house when you sell.
Bottom Line
Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years
Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.
How Experts Can Help Close the Gap in Today’s Homeownership Rate
Homeownership is an essential piece for building household wealth that can be passed down to future generations.
The Top Reasons for Selling Your House
If you also find yourself wanting a change in location, needing more space than your current house can provide or feel the need to downsize, it may be time to sell.
Experts Forecast a Turnaround in the Housing Market in 2023
As we move through 2023, there are signs things are finally going to turn around.
Lower Mortgage Rates Are Bringing Buyers Back to the Market
The upcoming months should see a return of buyers, as mortgage rates have been coming down since mid-November.
Where Will You Go If You Sell? You Have Options.
By working with a trusted real estate agent, you can be confident you’re making the most educated, informed decision.