6 ways to win against other competing buyers

The real estate market has greatly improved in several parts of the country, so this means there will likely be competing buyers bidding against the home you desire to live in.  To help you effectively succeed in a situation involving multiple offers, here are some tips you can try to get into the house of your dreams today!

Get a great agent

Your best bet, in a circumstance concerning other buyers after the home you are looking to purchase, is to hire a great real estate agent who is familiar with the surrounding area.  A good agent will understand all the necessary steps to take to give you the best chance at getting you in the house.  They will also likely have grown relationships with appraisers, brokers, or contractors, which can prove to be helpful for you.  There have been several instances where a seller willingly chooses to work with a buyer with a lower offer only because they have an experienced agent who is close by, and knows the in and outs of the process.

 

No procrastinating

Procrastinating can cost you the house you have been waiting for, it isn’t uncommon for a property to be sold before an open house is ever given.  This means you should act as soon as you see a house you like on the market.  Showing interest by taking action as soon as a house is available will show that you are very interested, and will help the rest of the deal go by more efficiently. Have your agent start looking into any place as soon as possible if you think you could see yourself there.

 

Have your funds prepared ahead of time

Before you will be taken seriously from any seller, you will need to get pre approved for a loan ahead of time, and keep communication with your lender for any updates or changes.  If you have been house hunting for days, weeks, or even months, and finally find something you know will be perfect, you need to be prepared to jump on it right away so you don’t miss out.  This will be impossible to do if you are unsure how much you can pay for the new property, and the seller will likely look elsewhere.

 

Make a good first impression

Be sure to give your offer in the most professional manner you can think of.  This is another place a veteran agent will come in handy because they will know just how to handle such situations.  If at all possible, your bid should be discussed face to face with the seller and or their agent representing them.  Come prepared to this meeting with a typed contract, proof of your pre approval of funds from your bank, any signed disclosures, and a cover letter. You want to give the impression to the seller that you want, and are capable, of moving in as soon as they are ready for you to do so.

 

Try to stay flexible

Once again, the potential buyer with the highest offer will not always be the one who gets the house.  Price is obviously very significant, but there may be other provisions the seller may be interested in as well.  If the seller has a certain reason for needing to close at a later time, or quickly, agree to these things as best of you ability because they may make or break the decision.

 

Be direct and truthful

Often times it will be the simple things you say and do that will make you stand out from the other potential buyers.  Always try to be very honest about your intentions, your desire for the house, and how much you are willing to pay for it.  If you give a sturdy offer that is clear and straight forward, you will give yourself the best chance at getting into the house.

 

If you are looking to get into a new home, hopefully this post gave you some good advice to help you come out on top over the competition, and get into the home you always imagined living in. If you would like any further advice or help buying a home, contact Prime Realty Group at 1-816-561-0622.

For this and other blogs, check out our website at primerealtygroupkc.com.  Prime Realty Group is a locally owned, full-service real estate brokerage headquartered in the heart of Kansas City. We specialize in Property Management, Maintenance & Preservation, REO Valuation & Marketing, and Investor Acquisition Services.