Buyer's Market? What That Actually Means in Phoenix

You’ve probably heard that Phoenix has turned into a buyer’s market. Depending on which side of the transaction you’re standing on, that either sounds like an opportunity or a problem.

The truth is more useful than either, and it’s different depending on where you are in the Valley. I sat down with Andrew Weingartner to talk through what we’re actually seeing with our buyers and our sellers right now.

What the most successful buyers are doing differently. I asked Andrew what separates the buyers who are winning from the ones who are struggling, and his answer was the strategy meeting. Before anything else, we sit down and set clear goals and clear expectations. Budget, the location where they want to live, and what they’re actually trying to accomplish. Then we go over market conditions and give them advice and guidance from there.

What Andrew’s noticing is that a lot of sellers are realizing it’s a buyer’s market in most places. So they’re offering concessions to help buy down the rate, or pay for repairs, or even come down on the purchase price. That’s exactly why the strategy meeting matters. It’s where we take a buyer’s goals and apply them to the opportunities that actually exist in the market right now. If you’re thinking about buying, this is a good time to sit down with us.

What all of that means if you’re the one selling. This isn’t all bad news for sellers. What it means is that you need a proper strategy, and that’s why I’ve implemented the 10-day sales strategy. You may have seen it before on some of my other videos, but essentially we’re doing a proper combination of pricing, presentation, and massive exposure. Then most importantly, the strategy of how we launch the listing on the market and create extra demand, abnormal demand for the property. Then we end up getting offers within a short period of time, and hoping to be under contract within that first 10 days.

So it doesn’t necessarily mean that every single seller is going to have to give away their house, lower their price, pay for all the closing costs, and do every single repair.

The Valley isn’t one market. Market by market, as you’ve also seen in some of our other videos, it’s very, very different. If you’re in Chandler, it’s very different than if you’re in San Tan Valley. Or if you’re in Scottsdale versus far West Valley, Waddell. Very different market conditions just depending on the demand.

In a nutshell, if you’re thinking about buying or you’re thinking about selling, the key here is having a strategy meeting and understanding what your goals and objectives are. We’re happy to do that. Call or text me at 480-327-8092, email me at info@langanteam.com, or visit kevinsellsaz.com. I’d love to talk through your transaction.