Few things are more confusing to the average consumer than the terms “Buyers’ Market” or “Seller Market” when it comes to real estate. What exactly do these terms mean and how do they affect your decision to list your home and for what price. When the market is deemed to be a ‘buyers” market this usually means that there is a large inventory of homes for sale in a given area. It also means that there are fewer buyers for the homes that are listed.
Both of these factors usually translate into lower prices being asked for the houses as there is much more competition for those buyers’ dollars. In a buyers’ market homes generally take longer to sell as well resulting in houses being on the market for much longer period of time than in a sellers’ market. What are the advantages for you in a buyers’ market? Well, obviously the lower prices of homes will have direct impact on your purchasing power meaning you get more home for the dollar.
You also have the ability to take a little longer to look for that perfect home as there is generally less competition looking at that particular house. You will also have more leverage for negotiating a lower than asking price or for other inducements such as more flexible closing dates. The opposite conditions obviously exist in what is known as a “Sellers’ Market”.
There are drastically less homes for sale resulting in the seller being able to drive the price up due to the competition of buyers trying to access those homes. You generally have less time to make decisions in sellers’ market as the real possibility of the home being sold while you dither is quite real.
Sellers are much less inclined to negotiate over price in sellers’ market as they understand that there are many potential buyers lined up behind you. Keeping these factors in mind when you decide to enter the market will allow you to make a more informed decision saving you some time and possible headaches.
REAL University’s Indiana real estate broker courses provides you with the comprehensive training you need to successfully pass the Indiana real estate exam. You will receive the education you need to fulfill your Indiana broker requirement and pass the Indiana state exam.
Indiana law requires you to complete 90 hours of education to qualify for the Indiana Broker License. This is an entry level license that allows the you to perform real estate related functions on behalf of the consumer, under the guidance of a managing broker.
After the educational component is completed successfully, you must pass the Indiana state real estate licensing exam in order to receive their Indiana broker license.
Our course fully prepares you for the specific objectives tested on the Indiana real estate exam. Register online now.