As a homebuyer in today’s hot real estate market, you may find yourself in stiff competition with multiple offers for the same property. It can be disheartening when your dream home seems just out of reach. However, fear not – there is a multitude of strategies your agent should employ to boost your chances of getting an offer accepted. Here are 10 tactics to navigate this competitive landscape and come out on top.
Tap Into Pending/Under Contract Listings
Don’t shy away from listings already under contract or in a pending status. There’s always a chance the current deal may fall through, and your offer could be a welcome backup. Make sure your agent is constantly connecting with these Listing Agents to get a pulse on what’s happening with the most current statuses.
Reconnect with Past Clients/ Sphere of Influence (SOI)
Networking is a powerful tool. Is your agent reaching out to past clients or people within their sphere who may have a property fitting your criteria? They might be considering selling, and your call could be the push the need to make that decision.
Harness the Power of Social Media
Create engaging videos about your home-buying journey and post them on your social media platforms. A heartfelt story could resonate with a seller and may give you an edge over other buyers.
Pen Letters to Targeted Neighborhoods
Sending out personalized letters to neighborhoods of interest can be a great way to connect with potential sellers. Make sure your agent expresses your interest in their neighborhood and let them know you’re ready to buy. For extra bonus points, allow the agent to use your first name(s) and/or a photo of you (or the family).
Get Personal with Door-Knocking
Your agent taking the time to door-knock can show your serious intent. He/she can engage with residents in your desired neighborhoods and share your eagerness to be a part of their community. Bonus points: Go with your agent on the door-knocking journey. Showing an actual buyer in-person is more powerful than your agent verbally telling the homeowner.
Call Expired/Canceled Listings
Properties that were previously on the market but didn’t sell could be hidden gems. Make sure your agent is reaching out to the former listing agents of these homes, as the owners may still be interested in selling, especially since prices are almost certainly higher today than they were when the homeowner’s place was last listed on the market.
Inform Your Office/Team
Ensure your agent’s team and brokerage office is aware of your house-hunting criteria. They may come across properties that fit the bill or know of sellers planning to list their homes soon. Many agents such as us here at the Sackin-Stone Team have internal portals of communication as well as active Facebook Groups.
Reach out to Investors/Rentals
Investors or landlords may be considering selling some of their properties. Many top agents are constantly proactively reaching out to them which could result in a win-win situation for both you and the investor.
Circle Dialing in Neighborhoods of Interest
Ask your agent if they are “circle dialing” – calling homeowners in a particular area – to discover any potential selling plans. This proactive approach can unearth opportunities that aren’t yet on the market.
Engage Local “Out-of-Office” Agents
Lastly, don’t forget about the power of agent networks. Agents do not exclusively work with agents in their brokerage. We work with all local agents! The real estate agents that have been active for a while have an extensive network both within and outside the brokerage of local agents. These local agents may be aware of potential listings coming up in your desired area. Lean on the network.
In Conclusion
In a bustling real estate market, it’s crucial to stay one step ahead and explore all possible avenues. With persistence, creativity, and a dash of personal touch, you can increase your chances of having your offer accepted and moving into your dream home. If you’re struggling to buy a home in Orange County, CA let us know and we can help. It’s time for you to WIN. Happy house hunting!
