How do buyers lose out on their dream home in a hot market?
Stay tuned! And I will give you that answer!
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So, How do buyers lose out on their dream home in a hot market. One of the ways is by the closing date they offer sellers!
First off. In a normal market. 30 days is the standard. It’s been that way for ever. It gives plenty of time for all inspections, the appraisal, underwriting and title work to get done. For buyers to have a smooth closing.
But in a hot market Which we have right now! Buyers might want to be more flexible on the closing date. Instead of the traditional thirty days. The closing date could range from three weeks up to five weeks or maybe even little longer. Understand sellers not only take in consideration the price in a hot market! But everything the buyer is offering!
Let me give you a quick story to explain what I mean.
Recently a home had multiple offers from buyers. Price is always important. But when the market is this hot,
Seller look at the complete package buyers our offering. To make their final decision. In this case. The first buyer. Who unfortunately picked and agent that had no experience in working in a hot market. The buyers didn’t know. They put in a strong offer. But chose a thirty day close which their agent suggested. Which is fine in a normal market. The second buyer also put in a strong offer. However, their agent had past experience in hot markets. Instead of suggesting a thirty-day close to their buyers. The agent called the listing agent and found out when the sellers wanted to close. Which happened to be in five weeks. Which the second buyers readily agreed too! Guess who got their dream home? You guessed it. The second buyers who had chosen and agent that had past experience in a sellers’ markets! Versus the first buyer who lost out on their dream home by choosing an agent that didn’t have the right experience. Maybe it was family member or a friend. Which is okay. But sadly, their hearts were broken by not getting their dream home. The good news is they did eventually buy a pretty decent home that their living in now!
Simply put. The buyer’s agent you choose can have a big impact on whether you get the home of your dreams or not!
Who do you know looking to buy in this amazing market and wants an agent that can guide them to great success in buying their dream home? Or maybe that’s you? Either way! Have them call or text my private number today at 618-210-2451! And let’s go buy the home of your dreams!
Until next time. Make it a great day!