Now that spring is here, more and more buyers are jumping back into the market, and competition is heating up.
If you are serious about landing a home you will love, you need more than just a wish list. You need a smart strategy – and that starts with working with a great agent who can help you put together a strong offer.
Here are some top tips your agent will share with you that are helping buyers stand out (and win) in today’s market.
1. Don’t Lowball on Price
It’s tempting to start with a super low offer in an attempt to save money. But in a competitive spring market, that could backfire. It the price isn’t reasonable, you could offend the seller and lose out to a better bid. I can help you understand local pricing trends and what a fair, yet strong offer looks like this season.
2. Consider an Escalation Clause
If you are worried about competing bids, an escalation clause can help. If you have an escalation clause and the seller gets another offer, it increases yours up to a certain max amount you set. That way you don’t lose out over a small difference.
Work with me to decide if this tactic fits your situation and budget. Just be sure not to stretch beyond what you are truly comfortable spending and that the home is likely to appraise for the amount you offer.
If the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. I can help you weigh these risks and determine the best approach for your specific situation.
3. Be Intentional About the Concessions You Ask For
While some concessions (like help with closing costs) might be possible, too many demands could make another buyer’s cleaner offer more attractive. I know what’s working for other buyers in your area and I can help you prioritize the most important asks – and avoid ones that could turn off the seller.
4. Consider a Timeline That Appeals to the Seller
Sometimes, it’s not just about price, it’s about timing. Does the seller need extra time to move out? Or do they want to move as soon as possible? Flexibility here can work in your favor. By adjusting your timeline (if you are able to), you could stand out against other offers. I can communicate with the seller’s agent to find out what matters most, including timing.