The real estate market is still in a seller's market with low inventory and bidding wars. The decrease in interest rates has prompted more buyers to look, but the lack of inventory is still a challenge. Sellers are staying in their homes due to low interest rates, and homes on the market are being bought by investors as well. Many sellers are empty nesters who can downsize and create more inventory. Real estate agents are facing challenges, with fewer people getting licensed and agents leaving the business. Love letters from buyers to sellers can be effective, but sellers need to be cautious to avoid fair housing violations. Pricing, staging, marketing, and negotiation skills are crucial for real estate agents to help sellers navigate the market and find the best offers. Jeff Halpern can be contacted at 201-317-7527 or jeffrey.halpern@randrealty.com.
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