The real estate market in Montana last year was simply indescribable! 2021 served to be a selling season in Montana unlike any other that we have seen over the past 14 years. Montana had been discovered and this fast-paced real estate selling process was happening with our clients in every part of the state.
For our SELLERS:
Homes that were listed for sale would receive immediate requests for showings within minutes of hitting the market. It was typical to see multiple offers within days and many offers would come written by buyers to view the property AFTER their offer was accepted. Additionally, it was very uncommon to see an offer below the listed price. It was a new concept of selling because negotiating a price was no longer necessary.
Most offers were cash and or preapproved. Approval letters or proof of funds were often submitted along with offers.
Inspections and appraisal contingencies were no longer requested. And nonrefundable earnest money and quick closings were offered upon an accepted offer.
For our sellers, it was better to have a deadline for all multiple offers to be submitted. Then our sellers could review all offers and select the best one for their situation.
For our BUYERS:
To react as quickly as possible, virtual tours for showings became a common tool for our out-of-state buyers that could not get here fast enough to see a property in person.
Because properties for sale were moving so fast, it came down to where we would advise our buyers to bring their highest and best offer to start the process in order to even get considered.
Luckily, our team responded well to this new process. With three of us working hard and quickly with our sellers and out-of-state buyers, we were still able to keep our track record of the top-selling agents in the Clearwater Montana Properties Company for 2021. Call us if you need advice or just an update on what to expect for the upcoming year.
Remember, I Speak Real Estate!
Laurie Pacheco, Marketing