5 Tips for Homebuyers in a Fast-Paced Market

15 June

Today’s real estate market is fast-paced and can be very stressful for buyers. There are more buyers than available homes, which has homes selling within hours. Here are five tips to make sure you beat the competition and land the home you’ve been searching for.

Get your money in order. 

Get pre-approved by your lender before you even begin house hunting. While you’re still waiting for a pre-approval letter, the home you had your heart set on could go under contract. New listings don’t last long in a fast-paced market.

When you receive your pre-approval letter, decide if you are comfortable borrowing the max amount allowed or less. It’s best to determine this before you begin your search.

Hire the right agent.

All agents are not created equal. Some work more with sellers than buyers. Some are not tech savvy. Some don’t respond in a timely manner.

Find an agent who works with a lot of buyers because they know time is of the essence in today’s fast-paced market. You want someone who can meet you quickly and simplify the process to help you stay ahead of other buyers.

Get instant alerts. 

Some real estate websites give the option to input your search criteria and receive instant alerts whenever a home that meets your needs comes on the market. Homes are selling within hours of being listed, making it almost impossible to find the best home without using this feature.

CLICK HERE to sign up for our instant alerts.

Don’t hesitate, but don’t settle.

In a fast-paced market, many buyers are tempted to hurry through the process and make an offer on a home that doesn’t meet all their search criteria. Buying a home is an important investment. If you feel like you’re settling, it’s best to wait a little longer for your ideal home.

While you don’t want to settle, you also don’t want to hesitate when the ideal home does come available. Don’t be intimidated by multiple offers. Jump in, and make an aggressive offer.

Include a personal letter to the sellers with your offer.

It doesn’t work every time, but we have seen buyers find favor with sellers by including a personal letter with their offer. Many sellers are emotionally connected to their homes. They want to be assured the new owners will take care of and enjoy the place they have called home for years.

Pro Tip for Letter Writing:

– Compliment the home first, and do not mention any remodeling plans you may have.

– Keep it clear and not too long that they lose interest.

– As you tour the home, pay attention to family photos and anything else that gives you a glimpse of the seller’s interests. Show how you are similar to the seller in your letter. For example, if you notice a photo of their children playing in the pool, write about how much your family will enjoy the beautiful pool.

With these tips, the right agent, and an aggressive offer, you can stand out and get an edge on the competition. Contact us today to get into the right home for you.