Pro Tips Homebuyers Can Use
Trying to navigate the home buying process can leave homebuyers unsure as to where to start. Where to look? How much to offer? How to negotiate?
Thankfully, homebuyers can take their cues from real estate pros who also buy their own homes. So the question is: how do real estate pros approach real estate when they buy for themselves?
Ready to Buy
All homebuyers will approach the situation differently. What works for some may not work for others. Some real estate pros tout the appeal of a quick offer. They strive to see a home and make an offer the day it hits the market. The goal is to make a good enough offer quickly. This way, the homeowner will feel satisfied taking the first offer that they are going to see.
Shop Around
Sometimes, buying when the house has just hit the market will end up costing more. While, the longer a house is on the market the more likely a homeowner is to take a lower offer.
Homebuyers who have more patience can benefit from waiting the market out. A house that has been on the market for more than three weeks is going to be easier to get a deal on.
Offseason
Every buyer and seller wants to be active during the prime season for home sales. However, a buyer that is willing to shop in the offseason like winter could find major steals.
Homeowners that are selling in offseason months are going to see less offers and lower offers. This can make it much easier for homebuyers to swoop in and make a strong offer that will be accepted.
Face to Face Interaction
This is a much more bold tactic for homebuyers to employ. Some pros suggest writing a letter to a seller to include in an offer. This letter should outline why the home is great for the homebuyers and what they love about it.
Instead of writing this letter, simply deliver the offer in person. After meeting the seller the buyer should tell them exactly what they like about the house and why they want it for their own. This personal tactic can sway some sellers into choosing a buyer because they think of them as a person instead of a price.
Following Houses on the Market
It can be devastating when homebuyers have an offer that is rejected. However, not all hope is lost.
Even if a homeowner is solid on their price, homebuyers can revisit the property at a later time. If the home remains on the market for a few more weeks or even a month, make another offer. The longer the home is on the market the more desirable the offer will look.
Letting the homeowner know the buyer is still interested is vital to getting a low offer accepted after a long period of time.
Real estate pros know what works in their area and what does not. They also know what tactic they like to use. Every buyer is different, which is why each should approach the real estate market in a way that benefits them the most.