How to Win in This Market as a Homebuyer
Why is it so difficult to purchase a home in this market? How can homebuyers beat the competition and find the home they want? We have a few tips for you today.
There are many frustrated homebuyers in our current market. Every time they see a good house, it already has a bunch of offers on it. How can you find a home in such a competitive market?
Every buyer is doing one of three things:
They are looking at Zillow or their other favorite real estate website.
They are going to open houses.
They are calling the numbers on ‘For Sale’ signs.
So, what is the one thing each of these methods has in common? Buyers are only looking at homes that are available to the public. If you use one of these three sources, then you will not see any unique inventory. You are just looking at the same homes that the entire buyer population is chasing.
Homes tend to go fast in this market, so the homes that are still available are the leftovers. It might feel like you are late to the party because even those homes have multiple offers on them. Since you are only looking at the same houses as everyone else, you are on the road to frustration. Many buyers throw up their hands and say, “That’s it! There’s nothing for me to buy!”
How can you win in this market?
Well, consider this; while everyone is focused on those publicly available homes, you are missing the homeowners in the neighborhood who are sitting at their kitchen tables and deciding to sell their homes. They haven’t hit the market yet, but they are ready to sell.
By limiting yourself to what is on the market, then you miss these sellers. By getting to these folks before they publicly list their home, you will avoid all the competition and multiple offers.
So, how do you get to those sellers? You need to work with a professional buyer’s agent.
It takes a very concentrated effort to get to those sellers who are not yet on the market. Thanks to today’s technology, we are able to find homes that match your criteria in the neighborhood you desire. Then, we go to those homeowners. We call them, knock on their doors, email them; we do whatever it takes to find those homeowners who are prepared to sell their home. It is really a win-win situation, as they avoid the hassle of listing their property and you are finally able to beat the competition and purchase the home you want.
Now, if you have any other questions about this strategy or our current market, give us a call or send us an email. We are happy to help you!