Here are five things I wish I could tell every single homebuyer out there.
There are five things that all homebuyers must know to have success in today’s market:
1. Get your money right. You need to either have cash or get fully approved by a lender before you start your search. You need to know how you’re going to finance a deal and that it will go through. We’re seeing some offers with no contingencies at all, so you need to have your money right if you’re going to compete.
2. Don’t delay. Homes are selling fast in this market, so there’s no time to “think about it.” A home that’s listed on a Monday may be under contract by Friday. Demand is so high that most good listings are seeing multiple buyers. If it’s a good deal, it’s going to go fast.
3. Work with an expert agent. You need an agent who knows this market, how to navigate it, and how to advise you to make the best possible offer. There are a lot of agents out there, but they’re not all equal. You need a full-time professional who is a strong negotiator and tuned into the market. They will help you find deals other agents might not be able to find and give you the tricks of the trade to win against other buyers.
4. Make your best offer first. Don’t try to negotiate. It works in a normal market but not in this one. You have to make your best possible offer from the start. At the same time, don’t get emotional and overpay. This is another area where an expert agent comes in handy. They’ll help you craft the right offer to win.
5. Be flexible. In this market, you may have to make an offer on five different houses before you finally win one. You may need to move up timelines or tailor your offer to be more convenient to the seller. There may be a seller who’s ready to take your deal but only if you agree to their terms.
If you have questions for me about buying a home or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.