We are in a the midst of a sellers market, homes are selling at or above asking price and sellers are seeing multiple offers. Buyers wanting to enter the housing market are getting very frustrated with the current market. Check out the following tips to get a winning edge on today’s Sellers market.
Working with a licensed full time Realtor® is a must
In this market you must be ready to pounce on any new listing that hits the market fitting your needs.
In recent years we have seen buyers wanting only to deal with the listing agent. The reasoning for this was, if the agent is representing both the buyer and seller in a transaction the buyer would have a stronger chance of winning the house. Unfortunately in certain circumstances this may be true but only when dealing with unethical Realtors®.
Working with a buyers agent sellers market will give you a much better advantage of scoring your dream home. As Realtors® we get access to listings before they even hit the public MLS® system. AS Realtors® we input all the criteria the buyer is looking for and as soon as a matching house is listed we are immediately notified. You must have your finger on the pulse and this the #1 way achieve this.
Once you receive the listing alert from your Realtor® don`t procrastinate, act on it immediately. Get in to see the house that very same day if possible or the very least do a drive by and book it for the next day. The quicker the buyer gets his/her offer registered the less chance he/she will be competing with other offers. Time is of the essence.
Have a price in mind
Once you have viewed the house now is the time to decide how much you are willing to pay. You don’t want to over pay because you were caught in a bidding war. Have your Realtor® pull comparable sales and listings and decide what a fair market value is. If you lose out to a competing offer don`t sweat it,the other buyers probably over payed for it.
Get pre-approved from your bank
I recommend this no matter what the market is. Knowing how much you can afford will remove a lot of the stress when searching for your home. The last you want to do is over stretch your budget.
Don`t get discouraged
Chances are you you will lose out on 1 or more properties but don`t let this discourage you. The house of your dreams may come on the market the very next day. I have seen this many times in my career.
Andrew Weaver is a full time Realtor® serving Wasaga Beach and all surrounding areas.