Home Buyers: How to Win in a Competitive Market

Whether you’re a first-time home buyer or a seasoned real estate veteran on the hunt, you’ve likely encountered the challenges of a competitive real estate market. Writing offers and missing out on properties can be frustrating, but it’s a common experience. The good news? There are strategies we can use to increase your chances of success.

To make a strong offer, you need to understand the seller’s perspective. Here’s what Crotty Group agent Joe Deardurff does to help his buyers stand out:

1. Connecting with the Listing Agent: Before we even write an offer, I call the listing agent. I introduce myself, thank them for the showing, and gather crucial information. Are there any offers in hand? Is the seller reviewing offers as they come in or on a specific date? This insight helps us set a clear strategy.
2. Timing is Key: If we’re the first offer in, and there’s a deadline for submissions, we might hold off on submitting right away. Being the first can sometimes give other buyers the chance to outbid us.
3. Understanding Seller Preferences: I always ask the listing agent if the seller has any specific preferences, like a desired closing date, waived inspections, or other contract terms. Knowing this helps us tailor our offer to be as appealing as possible.

Armed with this information, we can make an offer that stands out. Whether it’s timing our submission just right or including terms that the seller values most, we aim to come out of the gate with the strongest possible offer.

Navigating the home buying process as a first-time buyer can be tough, but with the right approach, you can increase your chances of securing your dream home. By thinking like a seller and tailoring your offer to meet their needs, you’ll be in a much stronger position to win in a competitive market.

Ready to make a winning offer? Contact us today to learn more about how we can help you secure a home you love!