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Tips for Homebuyers in a Competitive Market

Posted by lynnoconnellrealestate_ntlepx on July 18, 2016
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The real estate market in the United States as a whole is relatively fast-paced these days. Many homes are selling as soon as they hit the market with homebuyers being challenged to find the right home before someone else puts it under agreement. Needless to say, the pressure is real.

The process of a home purchase can already be emotional without the added pressure of a competitive marketplace. Rest assured, if you are experiencing a challenging home buying process, here are some tips on how to be ahead of the competition.

Create Property Alerts

Many real estate websites, including LynnOconnellRealEstate.com, have the ability to save your search criteria and have daily updates of new properties and price changes emailed. This is a great way to be notified right away of new properties hitting the market and to cut down on lost time. Simply visit the “Account” tab and create a new user profile. Next, set up your property search parameters for your daily emailed alerts to be sent.

Select a Fast Moving Agent

Not every real estate agent is the same. Some work more with sellers, some more with buyers and even some work just part time. There are many different kinds of agents so be sure you align yourself with one who works well with you. In markets like today’s, it is best to select an agent who is aggressive and available to meet you sooner than later. Agents who work with many buyers should be well aware of the constant struggles that buyers are having in the fast paced market. Fast moving agents who simplify the process can help you beat out the competition which in turn enhances your chance to solidify a deal.

Make an Aggressive Offer

In a hot market like it is now, you don’t have time to be picky. If you have viewed multiple homes and have been beat out on numerous occasions then you may be asking for too much in your offer. Listing agents can often times receive 20 or more offers on a property and have to sift through and present them to their sellers. Some buyers are offering tens of thousands of dollars over asking prices as well. If you want to compete, you have to keep up.

A good real estate agent will know the best way to structure a contract to make it as attractive as possible to sellers. Discussing your offer strategy before you fall in love with a particular home is a wise idea so that your process will go much smoother. Letting emotions to get involved can sometimes hinder your decisions. The best plan is to learn your market, develop a strategy and stick to it.