How Do You Compete When the Market Heats Up?

St. Charles Real Estate Podcast with Kari Kohler

Today I’m bringing you some exciting news: The market is heating up! And when the market heats up, you should expect there to be bidding wars. So, what are some ways you can position yourself for success in the face of competition? I’ve got some key tips on winning those bidding wars when you’re searching for your next home. First of all, write a cash offer if you can. This is going to get the seller’s attention. If this isn’t something you’re able to do, talk to your loan officer about a loan commitment. This is stronger than a pre-approval and is another way to capture the attention of the seller. Have your loan officer call the listing agent to tell them what a strong, qualified buyer you are. This will put you in a very good position with the sellers. “It is critically important that you hire an experienced agent.” Next, work through the contingencies quickly and efficiently. Be very communicative with the seller during this process. Finally, it is critically important that you hire an experienced agent. You should work with a professional with a proven track record of negotiating contracts. There is a tremendous amount of skill required in these kinds of negotiations, so make sure you work with someone who has the right knowledge and experience. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.