3 Reasons You Need A Realtor In A Competitive Market
In an ideal housing market, everything is in the buyers' court. However, the reality is often something opposite. In fact, in a seller-driven market, it can sometimes feel like all odds are against the buyer. For this reason, in a sellers' market, it is often best to partner with a realtor for the best experience; learn why.
1. Hidden Gems
One of the greatest challenges in a competitive market is finding a home. In these markets, it can seem that as quickly as a home is listed, it goes under contract even faster. However, many buyers are unaware of the fact that listed homes do not always make up all the homes that are for sale within a given market.
Sometimes, sellers will choose to not list their homes and rely solely on realtor referrals. In this case, buyers who do not have a realtor will not have access to these homes. Being a realtor in a competitive market means that you have access to more homes on the market, which can make finding the home of your dreams easier.
2. Fast Response
Another element in a competitive market is time. In this type of market, it is common for a seller to have multiple offers. As such, when they reach out to a potential buyer to accept their bid, the buyer only has a short period to respond. An important thing to understand about accepting an offer is that this process requires more than simply stating that you agree.
Typically, both parties must agree on certain terms and sign a contract within this period. Realtors understand this and will often go over the seller's demands immediately and send you paperwork to accept the bid immediately after the request is sent so that you can get under contract on the home before the seller moves on.
3. Time-Worthy Offers
In a competitive market, sellers have options. Given these options, while the realtor is required to notify the seller of each offer, the reality is that sellers often pay little attention to offers that are not worthwhile. Realtors understand the market and understand the importance of submitting a time-worthy competitive bid.
If you have a realtor, you may be more likely to have the seller actually review your offer, which is very important.
If you are purchasing a home in a competitive market, make sure you have a realtor on your side so that you can purchase the home of your dreams with as little stress as possible.
Contact a realtor to learn more.