After a very mild start, Winter has finally arrived in Chicago - it is so cold! Normally these are very slow months for real estate with very few people coming out to see properties. However this year, people have been eager to get into the real estate market, even though it is right after the holidays. It seems people do not want to take a break this year, everyone is ready to offer or sell. The tips and observations in this article are applicable to any time the real estate market is improving and competition is heating up to purchase real estate.
I have already written quite a few offers for my clients, but only two of them have been accepted. These two clients had previously submitted offers on other properties, but had been overbid by other buyers. So, these clients understood that in order to successfully get a property, they needed to offer a very reasonable price from the start, otherwise it will leave too much space and time for others to come in and bid higher. For example, one of the offers we made was within four hours of the listing being made public and the price was within 97% of the asking price, therefore, the seller accepted our offer and we had a signed contract within 24 hour of the listing.
At the same time, in this market, my customers have lost several properties. For some we get to see the property, but some have contracts signed with the owner before we even get to see the property.
The tips below are especially important in times like these when the market is improving. ทาวน์โฮมมือสอง กรุงเทพ
1) have a pre-approval letter ready 2) set up auto search for clients in your MLS application 3) tell clients to check email often so that they receive the auto-search notification promptly 4) make appointments to show them the properties as soon as they show interest 5) send clients the recent 6 months sold history for similar units in the building or in the neighborhood 6) tell clients about the urgency of making a reasonable offer.
Also, I have noticed that when the market is picking up fast, some of the listing prices are low compared to the demand of the market. They might be priced reasonably given the comparable sold history, but when demand is increasing, they could easily be priced higher. Therefore, when these kind of listings come up, we should tell our clients that there is not so much room for negotiation if they are interested in the unit as otherwise, they would be overbid by other buyers.
Last year, the market still had enough active listings to pick from, so the difficult part for the buyer is to pick the right property and negotiate a good price. Now, when the market is rising, it will not be an easy year for buyers as the market fluctuates so much, so it is hard to find the right property for buyers. If the buyers are not ready, and you do not want to push them much, then your buyers will lose the all the good opportunities. So if your buyers are serious about wanting to purchase, make sure they are ready.
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