Bryan Vogt here!
One of the questions I get from friends and people I meet at open houses. Is how can I have success in buying in the crazy market we’re in? So today I want to answer that!
I am constantly hearing of heartbreaking case studies of buyers losing out 6,7, or even 10 times on homes that they are dying to get! Some to the point of just giving up! If that’s you or if you’re just starting the process and are concerned if you will have the success that you deserve. Then Let me give you the #1 tip that you need to know in today’s market to have success!
Hire a professional agent that has experience in working in hot markets like these! Period!
Look there a lot of new agents on the block that has never worked in a hot market. And yes, there are plenty of seasoned agents out there that are still advising buyers the same way the market was 2 or 3 years ago. And some agents on how the market was 10 years ago! That’s not the market we’re in!
So how do you select an agent with the experience that you need in today’s hot market? Here are three simple questions to ask!
1. Do they offer buyers the opportunity to use an acceleration clause for their offers? An acceleration clause is a powerful tool that puts limits on how much a buyer is willing to pay but also can destroy the competition! It also can be used for the appraisal. The good news is that most appraisers have kept up with the new market. It’s rare but if you find one who hasn’t you can still be sure to get your dream home with the acceleration clause!
2. How can you as an agent advise me on how to offer the best terms to the seller for success? This is probably in my professional opinion the most important part of the whole offer! Let me repeat that! I have seen more buyers lose out on terms rather than price. I am not saying you never can lose out on price. But how the offer is structured to handle the appraisal, inspections, earnest money, closing dates, and the list goes on. Often times is more important to the seller than price! A quick case study: A buyer who was in competition with other buyers. Used the acceleration clause and that definitely helped them with their offer. But it was how the buyer’s agent structured the terms that were the deciding factor! Not the price! That is how important terms are in this market!
3. Do they have access to off-market homes? These are homes that may be coming to market in the next two or three weeks or longer. But they can be purchased now! That can be a huge advantage to you as a buyer for an agent that offers that! It is a great way to beat out the competition!
Of course, with all these things we have talked about, nothing is 100%. But by asking these three simple questions to find an experienced agent for this hot market. Can save you countless days and weeks of frustration and heartbreak When buying a home.
Are you a concerned buyer that is just starting the process or one who had been beaten up one too many times in today’s new market? Give me a call today on my direct line 618-210-2451 and let’s talk about how you can beat out the competition in today’s market!
You don’t want to miss next week’s episode where we will talk about the importance of hiring the right selling agent in this market! And one way to make sure you don’t is to hit the subscribe button and ring that bell
Until the next episode Make it a great day!
What is the one thing buyers must do to have success in this new market?
April 27, 2021