When the market changes to a sellerโs market, your home buying strategy needs to change with it. And while it may feel like you are navigating through a constant downpour, we want to encourage buyers not to wait for the storm to pass, but rather learn to dance in the rain. Here are a few strategies for winning in a sellers market;
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Donโt try to navigate the market alone. As trained professionals in our industry it is our job to help make the process as stress free as possible. Real estate agents are equipped with the skills necessary to negotiate effectively on your behalf and provide valuable insight on every offer.
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Sellerโs are drawn to straight forward offers. In a sellerโs market offers filled with conditions rarely make the cut, so make sure your offer is as clean as possible. We suggest, doing a pre-inspection and ensuring youโre pre-approved for a mortgage, doing these things before hand can help eliminate the need for certain conditions.
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Be as mindful as possible of the sellers closing date, you have a better chance of winning if you can close on their terms.
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A deposit is like a gesture of good faith from a buyer, the larger your deposit the more serious youโll come across to the seller. Including your deposit with the offer can also increase your chances of winning.
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Write a letter with your offer showcasing who you are and why you want the house. This strategy can be especially helpful for first time buyers and families – there are still a lot of sellers who just want to see their home be loved in the same way they did.
โค For More Buyer Resources Read: