Here is a great Forbes article that gives a nice overview of the challenges buyers (especially first-time home buyers) are having in today’s strong seller’s market. The buying strategies discussed are sound and common in our area.
While this is great information, the author doesn’t mention the importance of communication. I cannot overstress the importance of this!! Writing strong offers is a requirement to win bidding wars, however communication between the buyers’ agent and their buyers, the buyers’ lender, and the listing agents of homes buyers are interested in is what can give buyers the edge necessary to ultimately win and get the house!
Buying Strategies: If you’re a buyer, make sure you work with an agent who is very “hands on” and has time to talk to you and to the listing agents of homes you are interested in. Make sure your agent will call the listing agent to find out if the seller will take early offers (if they have an offer review date), will find out what the sellers’ wants and needs are, and will help you structure your offer so it appeals to the seller(s) (and to you). The goal is to create a fantastic offer and then have the listing agent be your advocate because your offer stands out and they love working with your agent. This is the “secret” in the sauce.
Listing Strategies: On the listing side, make sure your agent listens to you, understands your wants, needs, lifestyle, and goals, and works to get you to them. Do you need prepping/staging/moving/??? help? Do you need a rent back? Want a long or short closing time? If your agent takes the time to understand you, then you are more likely to get what you need and want and will likely have a better experience with fewer headaches along the way.
If you have any questions or want further information or dialogue, please reach out! I’m here to help!