Low Inventory and Appreciating Market

Inventory continues to be very tight in the Vail Valley with only 354 active residential listings on the Vail MLS as of February 28, 2021. This is in comparison 719 active on the same day in 2020 and 798 active in 2019. Now is definitely a good time to sell if you are willing to part with your Eagle County real estate and it is a challenging time to be a buyer. If you are a buyer, don’t be discouraged as some of the most exciting properties in the valley are coming to the market right now as those properties tend not to sell except in really good market conditions. The sellers are just not willing to part with them except in such conditions when a property is truly special.

It is more important than ever to have the right real estate professional helping you list your home. Ok it is always important but often people make the mistake of assuming that when the market is hot that it is less important when really it is more critical to have a broker that knows the market really well and has an instinct for what the market will bear. True comparable properties at this moment in time are often hard to come by so it is an overall feel and instinct that directs the great Realtor at moments like this.  When you list your home you need to hit the market at the right price and property prepared to look as good as possible so as to sell quickly. It is very easy for a broker to just throw you on the market right now and you will sell, but did they get you the best possible terms? A great listing agent has the skills of a detective, a psychologist, a negotiator, an attorney and a stager. If you are laughing then you haven’t had a great Realtor list your property or you were not paying attention. If your Realtor is skilled then it will mean a significant amount of additional funds in your pocket as well as less pain along the way in most all circumstances.

Right now pricing high but not too high is critical. The market is highly stigmatizing right now when a property sits on the market long. You need a trusted Realtor that is fair and perceived as fair by their real estate agent peers due to the high probability of multiple offers. It is more important than ever not to list with a broker with a reputation for overpricing. You want as many offers as possible to get the best possible terms and Realtors that have a reputation for overpricing or for unfairly slipping their own buyers into prime properties, means that reputation damages their future sellers. Although the seller sets their price, a good real estate professional arms their clients with information that helps them understand where to price properly. They also implement strategies to inject a sense of fairness and confidence into the process for the buyers agents so that those brokers understand that they are not wasting their time and that if their client presents the best offer, they will succeed.

When it comes to being a buyer in this market, it can be very discouraging. The reputation of your Realtor is even more important when many offers come in with similar terms. Brokers want to deal with other agents they feel are competent and likely to smoothly get through the process to closing because of being organized and giving good counsel to their clients. Additionally, having a broker that is savvy in navigating the offer is critical. You can often get a property for a better price if you learn what the Seller really needs beyond price and the other usual terms. Maybe some level of closing flexibility to find that next property, or understanding that the seller is emotionally struggling with selling a long beloved home with memories such that knowing how much they love the home is critical. Other sellers may be very matter of fact and details about your love for the home is used against you later on. You need an agent that pays attention and asks the right questions to get a feel for what strategy is best.