T
he New Orleans real estate landscape is shifting, with thousands of homes lingering on the market for months. According to local agents, buyers are finally adjusting to the reality of high insurance costs and interest rates. To succeed in this new environment, sellers need a savvy agent who can tailor their marketing strategy to reach the right buyers.
Realtor TJ Guillot recommends working with an agent who knows the market inside out and can develop a customized plan to showcase your home on social media and other platforms. His unorthodox approach includes dancing in front of listed properties to make them stand out from the crowd. "It's all about creating a buzz around your home," he says.
In contrast, Linda Babineaux advises sellers to be realistic about pricing their homes. With fewer bidding wars, it's essential to price correctly and avoid overestimating the market value. A comparative market analysis can help determine a fair price, taking into account factors like property type and location.
Guillot notes that despite initial concerns about rising interest rates, the market is slowly picking up. As a relatively new agent who started selling during the pandemic, he's seen firsthand how the market has adapted to changing conditions.
Babineaux, a 47-year veteran of the industry, emphasizes the importance of getting pre-qualified for buyers and exploring available grants. For those making under $115,000, a $9,000 grant can help bridge the gap between affordability and comfort level. First responders are eligible for an additional $1,000.
Guillot suggests that buying and renovating an existing home may be more financially savvy than building from scratch. While insurance costs may vary slightly, the overall savings can be substantial. "It's not always cheaper to build new," he says. Instead of relying on online listings like Zillow or Redfin, Babineaux advises working with an experienced agent who can provide a more accurate picture of monthly costs and help find a home within your budget.
