A Day in the Life of a Main Line Realtor® – Part 17
What is a Foot Traffic Indicator?
I have always heard that the Spring market for Main Line real estate starts after the Super Bowl. This Main Line Realtor® is unsure about that this year, for 2 reasons: 1) the home team is in the Super Bowl this year and 2) I am already seeing a lot of activity. Folks have waited long enough to see the Eagles triumph and buyers have waited much too long for some choices in Main Line homes to buy after this inventory shortage.
One predictor of how busy the season will be on the Main Line is what they call the “foot traffic” indicator. This indicator is a statistic available to Realtors® who belong to the Multiple Listing Service (MLS) for the Main Line, which provides a showing service to listing agents. Most buyer agents use the service to make appointments and then the agents who subscribe to the MLS have the benefit of the data it generates. Numbers of appointments have been steadily increasing through the last month, indicating more buyers are out looking with their agents. Those buyers making appointments through their agents are usually the serious ones, who will end up successfully negotiating to a closing when they find the right home. Buyers who look on their own by going to open houses or calling the listing agent from the sign do not get counted as “foot traffic” by this method but are also less likely to accomplish the feat of getting a home purchased in this tight market.
Here at Sage, the last two times a potential seller spoke to us about their timing, we pointed them to the data on the low inventory and convinced them to move up the target date for putting the house on the market by many months. This is the best way, in our opinion, to get the highest price right now. In both cases, the sellers resolved the issue of timing by choosing a rental option for the immediate future after the sale of their family home. One home sale has closed at a great price-higher than what most of the experts told our sellers they could get. The other couple is busy cleaning and decluttering for a quick Spring sale.
Call Sage to Get Ahead of Main Line Spring Foot Traffic
So maybe the foot traffic is an indicator that the Spring market here on the Main Line will be the Late Winter Market. I hope so! Sellers: Let’s get all the houses ready now and beat the rush. Buyers: Let’s get your running shoes on and see everything the day it comes on the market so we can be the first ones to move when the right house appears! Contact Sage Realty today for experienced guidance in buying or selling your home!
Tags: Main Line Realtor