Wednesday, May 4, 2016

5 Things Buyers Need To Stand Out To A Seller In This Competitive Market

Have you heard your friend's talking about it? Or read it in the paper? LA is in a highly competitive seller's market right now.  And if you are hoping to buy soon, there are some things you will need to be a competitive buyer in this market and make your offer more appealing.
1. Get with a lender.
Not only can you not have your offer taken seriously without a pre-approval from a lender, but you don't even want to start looking till you have a solid idea of what your can afford. And in this market, Direct lenders are preferred. So ask your lender if they are a direct lender and if not, maybe consider calling a couple others to see about working with them.
2. Work with a really good agent.
I know, I know...I shouldn't be selling myself on point #2 but it's true.  You don't want to work with someone who is difficult to work with, difficult to reach, not experienced, or doesn't give you straight forward helpful advice. Believe me, our reputation as agents go far with other agents and when we are known for being professional and hardworking, that goes far. And the opposite is true as well that when an agent is known for being (how to I put this?) well...a less desirable person to work with, that goes even further and it can actually hurt you.
3. Before you find the house you want to put an offer in on, talk with your agent about what makes an offer more desirable to the seller.
It can be like playing a card game and some hands that you show can be more appealing as a good player even though the rest of the cards may not make a good hand.  And there are ways to do this so talk about it.
4.  Get your offer in as early as possible.
If the house comes on the market Saturday and you see it at an open house Sunday, try to get it in the very next day.  No sense in can only create more competition that may come in.
5.  And then there is a personal letter you may write to the sellers.
  There was a recent case where a letter was considered evidence that a seller chose a buyer because of family status, marital status, age or race so the advice to write a letter has been looked upon by our companies as not-a-good-idea.  And from a legal standpoint, I get it. After all, we live in California where people practically sue over bad weather, right?  But then there is the compassionate side of people that just like to know the buyer is a decent person who's going to love their home when they sell it.  So, that may be something to think about with your offer.

In the meantime, if you have any questions about buying or selling your home, or you are just curious what your home may be worth, call me. I'm always here for you.