Low Inventory, High Demand
Explaining to a 'ready, willing, and able' buyer that you simply have nothing to sell them, at this particular time, based on their criteria; because of low market inventory can be not only harrowing to you the agent but disconcerting to the client. The islands of the Bahamas have seemingly seen an increased demand in beachfront, rocky shore, and waterfront properties, particularly within the last few years, that we haven't seen in decades.
On average 7 years ago the islands of the Bahamas once had seasons of selling to date the season is year-round.
Although it may be upsetting to the buyer, there are things that can be done, while you wait for your dream property or home to come on the market.
For the purchaser looking to buy:
a. Be Prepared: Reach out to your agent for a purchaser's guide, this will enable you to have all the facts and know what to expect from your agent and your attorney within a sale.
b. Bon Voyage, set sail: Visit or choose the island of your choice, remember The Bahamas has over 700 islands and Cays to choose from. There are international flights into all of our major islands and charter boats or planes can also be scheduled. Speak with your realtor and discover which island may be the best island for you.
c. Make a list and check it twice: Making a list helps you and your agent narrow down a search. It helps you to know what your 'must have' criteria are. It also helps negotiate options that are similar and has the top 9 of your list that you may agree to settle for.
d. Keep in contact with your agent: Although your agent may send you listings from time to time (while you wait) your list may sometimes change. A new addition to the family may mean you need an additional bedroom. A family pet may mean you want more yard space.
For the vendor thinking of selling:
a. Be Prepared: Reach out to your agent for a seller's guide, some laws may have changed since you purchased your home, this will enable you to make the best decision.
b. Get Valued: Many times the value of your home has increased with the added garage or redesigned kitchen. However, you may be unaware of the new value of your home. Isn't it better to speak with a professional, to know for sure?
c. Staging guide: Reach out to your agent for a staging guide. This will help maximize your list price and it highlights top sellers in homes and land.
Remember your dream is what you make it.