Buying In A Seller's Market

Summary

With few exceptions, housing Inventory is extremely low and prices are on the rise throughout the country. Additionally, demand is incredibly high. All these factors contribute to what is known as a seller’s market. In other words, sellers start any real estate negotiation with a built-in advantage. Educate Realtors and their customers on the best practices to buy a home during the current market conditions.

  • Timeliness: Non-urgent, but good discussion for sales meeting 
  • Expiration: 12/31/17, unless updated

Talking Points

  • Start with a pre-qualification from Supreme Lending!

  • When you make an offer, match your pre-qualification letter to your sales price, and date it the same day as your offer.

  • Do not make lowball offers. You can’t use the same negotiating tactics you would use in a buyer’s market. Make a fair offer, and warn the customer that they may need to offer above asking to secure the property.
  • Make a larger earnest money deposit. It will communicate your buyer is serious. (They’re going to have to pay the money anyway.)
  • If possible, delay buyer possession. This will separate your buyer from others and will relieve stress from sellers.
  • Do not request favors from customers.
  • Call the selling agent prior to making your customer’s offer. If your offer is presented how they like it, they may make recommendation on your customer’s behalf.

Slide Presentation

Handouts/Flyers

 
 

Resources/Source Documentation

  • https://www.thebalance.com/tips-for-home-buying-in-a-sizzling-hot-seller-s-market-1798355
  • https://homesteadroadblog.wordpress.com/2017/06/09/tips-to-buy-a-home-in-sellers-market/
  • https://money.usnews.com/money/personal-finance/articles/2015/04/13/12-tips-for-spring-homebuying-in-a-sellers-market
  • http://www.lansingstatejournal.com/story/marketplace/real-estate/2017/04/18/tips-buyers-sellers-market/100631490/
  • https://themortgagereports.com/22779/buying-a-house-how-to-deal-with-tough-competition-in-a-hot-housing-market

Tai Anderson

Market Like A Rockstar!