Tips for negotiating in a sellers market
June 12, 2018
A home buyer does not want to be caught off guard in a seller's market. It's one of the reasons that the most important thing a home buyer can do is trust his or her real estate agent to advise on market conditions. If it is a seller's market, it could be very difficult, if not almost impossible, to buy the first home a buyer wants to buy.
Because home buyers generally have very little interest in the real estate market when they are not buying a home, they don't always know how the market moves from one season to another, much less from month to month.
It is often uncomfortable for a buyer to be told the market is a seller's market when the buyer may believe otherwise -- especially a buyer who is trying to buy in a down real estate market. Markets can change almost overnight. When the market changes to a seller's market, a buyer's home buying strategy needs to change with it. In a seller's market, a home buyer is unlikely to be successful using the same techniques practiced in a buyer's market.
Don't be that buyer who wants to wait until the weekend to view a home in a seller's market.
By the weekend, that home could be sold. Try to be one of the first showings. Sellers usually don't enjoy having buyers come through their homes at all hours of the day, so most would like to see their home sold quickly. If you write a good offer, a fast offer and a clean offer, your chances of acceptance are far better than those of a buyer who is unprepared.
Source: The Balance.com