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Q: How Can Buyers Compete in Our Seller’s Market?

These eight tips will help get your offer accepted.

At just two months’ worth, our inventory is extremely tight right now; there’s no doubt we’re in a strong seller’s market where multiple-offer situations are commonplace in certain high-demand price points. How can buyers stand out amid heavy competition? For starters, having reasonable expectations is paramount. If you’re a buyer looking for a ‘steal’ on price, you’re in for a wake-up call.

Aside from price, you need to consider what terms you can concede. When it comes to the closing date, for instance, do you really need to move in so soon? The name of the game is determining what’s important to the seller. If you’re the only buyer whose offer truly reflects their top priorities, you’re likely to win out on that house

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to skip to topics that interest you most: 

1:00 — Include a pre-qualification letter or proof of funds with your offer

1:33 — Be reasonable on price 

2:00 — Be flexible on your closing date

2:36 — When (and how) you should consider buying a home as is 

3:16 — Offer to pay closing costs 

3:58 — Writing a personal letter to the seller won’t hurt (but it’s not a magic wand) 

4:30 — Leave personal property out of it

4:53 — Find an agent who knows how to negotiate

5:52 — Wrapping up 

These are just a few important things to consider if you’re a buyer looking for an edge in today’s market. On the other hand, if you’re a seller (or know anyone who is), our market is screaming for inventory; there’s hardly been a better time to list. 

As always, reach out to us via phone, email, or Facebook Messenger if you have questions about this or any other real estate topic. We’re happy to help!

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