How to Stand Out as a Buyer in a Competitive Market
The real estate market has been on fire! With home values being so high and interest rates so low, homeowners and buyers alike have been incentivized to participate in the market. To avoid getting overshadowed, here are some tips to make you stand out as a competitive buyer!
How to stand out: Find a Dedicated Agent
The first step to being a competitive buyer in a competitive market is to connect with an agent. Having an agent who is willing to go above and beyond to reach your goals is essential.
You and your agent should be a team! At Mark Spain Real Estate, one of our core values is to remain client focused. We are proud to be the most trusted name in residential real estate, ranking as the #1 team in the US for closed transactions! Our agents lead with a servant’s heart and make reaching their clients’ goals their top priority. We would be grateful to serve you throughout the buying process.
Get Pre-Approved for your Loan
After connecting with an agent who has a clear understanding of your goals, make sure to get pre-approved for your home loan. Taking the time to complete this step will let sellers know that you are serious. It will also save you time and stress once you have finally found the property that you want to place an offer on! When going through the pre-approval process, we advise you to consult with several different lenders. This will allow you to see a wide selection of interest rates so you can pick the best deal to stand out in the competitive market!
Strategically Place Your Offer
When it finally comes time to place an offer, it is important to keep in mind the goal of the seller. They want to make as much profit as possible. Given how limited the housing inventory currently is, sellers are not having to settle for low-ball offers. Placing an offer much lower than the listing price could leave a bad impression resulting in the other party going with the other competition.
To avoid this it is important to consult with your agent in order to determine the best price to offer. Before placing your offer, make your maximum price clear between all parties involved in the buying process. Your agent should be able to help you in determining how much to offer so both you and the seller get the best deal possible!
By keeping in mind these tips, you will undoubtedly stand out as a competitive buyer!
Ready to buy or sell your home? We are here to help! Contact us today for more information.
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