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When homes sell quickly and accept offers way over asking, what can you do to get an edge? Here are five ways you can compete in a super competitive market:

The Learning Curve

In this age of technology, buyers are overwhelming information. Many buyers cannot use their agents, lenders and inspectors to obtain the information and guidance they need. It is good to do research on your own, but you must seek professional advice.

Obsession with Comps

New buyers will ask questions such as “What is the comparable sales in this area?” “Is that house overpriced?” “What do you think it will sell?” The new buyer wants to know the exact value of the house, and then does not need to spend a penny.

New buyers will ask questions such as “What is the comparable sales in this area?” “Is that house overpriced?” “What do you think it will sell?” The new buyer wants to know the exact value of the house, and then does not need to spend a penny.

Leverage Your Agent

Your agent can understand the processes that you do not have. Use them! Even if the seller is in charge, the agent adds flavor to the negotiation. In a fiercely competitive market, you will find fewer and fewer agents want to represent the buyer, so you have found an agent you trust and want to represent you throughout the process.

The Disappearing Price Range

In the hot market, most prices are rising. Prices may rise rapidly, which means your budget may no longer be cut. You must either lift it or look elsewhere.

Expect Issues
There are almost always issues at some point in the transaction. It’s to be expected. If things are seeming shaking, look to your agent for advice – they’ll be able to bring some perspective.

Looking for an agent you can trust? Reach out today.