Trading Properties

Consider Trading Properties

2008/11/01 Originally published in the Vernon Morning Star.

The September sales statistics are not yet fully available but I predict that they will ultimately show slower sales activity than the summer market did.

Only well priced properties are selling. Overpriced listings are getting no attention at all from perspective buyers. It occurs to me the majority of sellers could be buyers if they could only sell their current home.

I think the time has come that buyers, sellers and Realtors® need to open our minds to the concept of trading. My idea is that each seller could make it known to their Realtor® what type of property they would buy, if they sold. Through the Multiple Listing Service® this is entirely possible. The system is set up with an input capability that readily identifies properties whose sellers will accept trades. The challenge is how to communicate the details of such a trade to the public and to the Realtors®. Luckily, the MLS data input forms can handle a short explanation in the comments section. Historically, successful trading of properties has been a rare occurrence. Trading between one city and another is the most unlikely possibility. However, trading within our immediate area is worth investigating. And of course, the odds that two sellers can switch properties and expect it to be fully satisfying to both of the parties is not great. But, what if the trade property was "almost" what they are looking for? "Almost" may be acceptable to a seller who wants to get moving.

On the bright side of this quiet market is the selection of available properties.
It is the best it's been in recent years.
Food for thought.

Jane Field works with RE/MAX Vernon. Jane has over 30 years experience in the Real Estate business. To suggest topics for future articles or to ask Jane questions, email or call 503-3755.

RE/MAX Vernon | 250.503.3755 | Toll free 1.888.503.3755 | 5603 - 27 ST | Vernon | BC | V1T 8Z5 | Canada

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