Buying or Selling a home Can be Stressful! 😵
The Experienced Greetings DMV Sales Network Agents Will Help You Find YOUR Home Or Sell Your House,
So You Have More Money, Comfort, And Achieve Your Goals Throughout The Process.
What Difficulties Do Buyers Encounter When Purchasing a Home?
Given how competitive our current market is, I wanted to lay out the three biggest challenges buyers face and how they can overcome them.
What are the three biggest challenges buyers face when buying a home in our current market? Today I’m joined by Anthony Howard, one of our top buyer’s agents, to answer that question.
Crafting an Irresistible Offer
In a market where demand often outstrips supply, lowball offers and attempts at negotiation can easily backfire.
The first challenge is writing an offer that gets accepted. The impulse for most buyers is to try to get some discounted price or lowball their initial proposal, which is understandable.
However, the average list-to-sales price ratio here in the Fairfax County area is 98.2%, which means our market is highly competitive, and you should always write a firm offer.
Crafting an irresistible offer involves offering a fair price and considering other terms that might make your offer more appealing, such as a flexible closing date or a larger earnest money deposit.
“ALWAYS WRITE A STRONG OFFER.”
Adjusting Expectations
The second challenge is adjusting your expectations. Having a clear idea of what you're looking for in a new home is crucial, but it's equally important to remain adaptable.
Buyers can have particular needs for their new home, which can lead to needing help adjusting to what the market has available.
Most of the time, you will have to adjust the type of home you want or alter your preferred price. It's also possible that you will have to adjust your desired living location.
Adapting your expectations while staying true to your core requirements will increase your chances of finding a suitable home in a competitive market.
Winning in a Multiple Offer Scenario
The third and final challenge is navigating and winning a multiple-offer situation. In today's competitive real estate landscape, multiple offer situations are becoming more common.
This challenge correlates strongly with the first challenge in that the key to coming out on top is writing a robust and full-priced offer right out of the gate.
Holding back or trying to play the negotiation game in such situations may not be helpful. Presenting a solid offer demonstrates your seriousness as a buyer and puts you in a better position to outshine other contenders.
If you're in the market to buy a home, sell a home, or invest in real estate, please call me at (703) 346-2776 or email Dan@greetingsvirginia.com. We'd be glad to help!
