If You Have Been Waiting To Buy, NOW Is The Time!

After years of experiencing intense multiple offer situations, buyers are finally getting some relief in the market. Inventory has grown and while well priced and well staged properties still sell quickly, there are some fantastic values currently available in the housing market.

Of course when buyers hear the word ‘value’ it means different things to different people. Here are a couple of thoughts on negotiating tactics that may not work in the end and ideas on how to truly score a great value.

1. “Offer a lot less than you’re willing to spend.”

This is probably the worst advice buyers can get. I have seen many buyers lose the house of their dreams because they went in with a ridiculous offer that so offended the seller that they slammed the door on any further negotiation. Even when the buyer returned and offered more, the seller refused because they felt insulted.

If you’ve found the perfect home, you need to put yourself in the seller’s shoes. If you were selling, what offer would insult you? Keep this in mind when you enter a negotiation.

2. “Wait before you buy because interest rates may go down further.”

Current interest rates are very reasonable. I’ve seen it happen so many times. A buyer waits for interest rates to go down only to lose out on the house of their dreams. Don’t let this happen to you. Great houses just don’t stay on the market forever.

3. “You don’t need a real estate agent if you’re buying. You can go on the Internet yourself; find a house, and call the listing agent directly.”

This is extremely bad advice. Buyers need strong representation when buying a home for the simple reason that the listing agent is working on behalf of the seller.

As a buyer you need an advocate working for you now more than ever who truly knows the ins and outs of the buying process. Time and again I have saved my buyers much more than the amount of my commission through strong negotiating tactics, and having access to resources that buyers need.