The market is extra challenging for home buyers at the moment. Demand for housing has been sharply rising while supply is at an all-time low. This is driving home prices up and has resulted in bidding wars across the country.
In a sellers’ market like this, working with a real estate agent is more important than ever. But it can’t be just any agent. You need to work with an experienced Realtor with a great track record – someone who can help you overcome the expected hurdles and land the home of your dreams with the best possible deal.
Here are some pointers to consider in finding the right Realtor.
- The Realtor must be forthright about offer prices
- The Realtor must consider various factors in coming up with a winning strategy
An offer does not only include the price but other elements as well, such as the financing package, closing date, and contingencies. An experienced Realtor will help you come up with a comprehensive strategy that will make your offer as attractive as possible.
For example, you can offer more earnest money, or pay part or all of the closing costs. You might also consider adding an escalation clause, which would signify your intention to pay a certain amount in cash if the bank’s appraisal is lower than the selling price. Or you might agree to do away with certain contingencies to speed up the process.
A trusted Realtor will go through the options with you and be forthcoming with the pros and cons of each one.
- The Realtor must always consider your needs and preferences
Buying a home and relocating are never easy. There are financial, practical, and emotional issues involved. You naturally want a home that you’ll be proud to own – one that will provide you and your family with the conveniences and amenities that are important to you, while priced within your budget.
Finding the right home can be a tall order, but a trusted Realtor will have the necessary tools and determination to help you find that perfect property within the shortest possible time.
And when obstacles come along, the Realtor will take the time to sit with you and openly discuss the situation so you can make well-informed decisions.
When you’re competing with several bidders, it’s important to have a good offer right off the bat. You may only get one chance to bid, especially when the seller has multiple offers to consider.
A good real estate agent will help you come up with an accurate and
competitive offer. While the goal is to purchase the house you’re eyeing, you don’t want to pay too much for it either. Keep in mind that your lender will be conducting their own appraisal of the property, and if their estimate comes up short of the selling price, you might lose the deal or end up paying the difference from your own pocket.
A less experienced agent may simply agree with their client’s first offer with the intention of negotiating with the seller down the road. In a multi-bidder scenario, an initial bid that’s off the mark could instantly kill your chances. A Realtor with more market savvy will give you an honest assessment of your bid, and advise if you need to raise or lower your offer price based on their professional assessment.
Get in touch with me today at info(at)pagnottahomes(dotted)com or 908.436.7947.