My "Aha Moment" to Get the Most From a Seller's Market this Season

To say North Shore is a seller's market right now is an understatement. There's a property boom happening in Gloucester, Rockport, right here in Cape Ann. Some homes are selling for tens — even hundreds — of thousands of dollars over the asking price, and real estate agents have seen nothing like it. 

Has there ever been a better time to sell your property?

It's a classic case of demand and supply, with demand far exceeding supply. North Shore's always had a relatively small real estate inventory, and pent-up post-COVID demand for properties here have sent prices into the stratosphere. 

But just because the North Shore market is red hot, there's no guarantee you'll sell your home. 

If you track the latest real estate data for the North Shore area — as all good agents do — you notice, at first glance, there's no rhyme or reason to why some properties sell well above the asking price, while others sit on the market for weeks or even months. Sure, location and property size will always drive the market, but there's much more to it than that. 

What's the secret?

Dig a little deeper, and you'll discover why some sellers get more for their properties than others. It's an "aha!" moment that all sellers in the North Shore market need to know!

Read on to find out what it is.

Why Relationships Matter in Real Estate

Confident they will sell their property in a seller's market, homeowners might work with any agent. But not all agents are the same. Certainly not here in Cape Ann and North Shore. Real estate is much more than just inventory and location. It's about nurturing relationships with potential buyers to get the best return for you, the seller. It's about the lifestyle here in Cape Ann and in building relationships with people in our community. That's never been more important than now because some buyers will pay tens or hundreds of thousands of dollars over the asking price.

Relationships matter in real estate. It's that simple. Of course, we'll create property listings and target buyers across digital platforms - both methods often prove fruitful. But you'll need to work with an agent who can establish relationships with prospective buyers and their agents.

Real estate is as much about people as it is about a property. The most successful agents don't think of buyers as "clients" but people with emotions and aspirations. So these agents share their experiences with buyers. They get to know them. They develop relationships with them.

Successful agents don't rush prospects through the buying process but nurture them, focusing their efforts on those willing to spend the most money on a property. Developing relationships with buyers at the right time can pay off big time for a seller like you. And that's the real "aha" moment in the current market. 

So How Do Agents Foster Relationships With Buyers?

We know this area like the back of our hands. As community experts, we don't just market properties to buyers but sell the North Shore lifestyle. We listen to buyers and find out what they want in their dream home — a beach view, a new kitchen, or a large backyard. Then they get to know them some more, learning about their interests and dreams. We communicate. We listen some more. Finally, we match buyers to their dream homes. It's an ongoing process that requires a specific skill set. Unfortunately, many agents lack these skills and push prospects toward properties they don't want. That's why those homes typically don't sell above the asking price. 

Honesty is the foundation of any good relationship. The best real estate agents in the North Shore market don't lie about properties but guide prospects through the home-buying process. And that's always the best approach. Consumers say "honesty" and "integrity" are the qualities they value the most in an agent, followed by "knowledge of the purchase process" and "responsiveness."