In today's competitive real estate market, being proactive is the name of the game. The Summer of 2023 is not the time for buyers to cautiously test the waters; it's a time for decisive action. Are you in or out? This is the question serious buyers need to answer.

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To stand a chance in this fast-paced market, buyers must be prepared to make an offer the moment they find a home that meets their needs. The window of opportunity is narrow, and hesitation can cost you the chance of securing your dream home. In addition to speed, being the first to view a new listing significantly improves your chances of success. However, the most crucial step for real estate buyers is to organize their finances by determining their budget and obtaining pre-approval from a reputable lender before even stepping foot in a property. This preparation allows buyers to present an offer promptly, increasing their likelihood of acceptance. As the saying goes, there's value in being the first ones to the dance.

 

To illustrate the importance of these strategies, let me share a couple of recent scenarios with clients:

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Buyer #1:

A local family approached me this summer with a desire to stay in their beloved neighborhood but also live near the water. We sat down and had an in-depth conversation about their family, needs, and living situation. Understanding their priorities, we created a plan of action, including obtaining a pre-approval. They wasted no time and contacted one of my preferred lenders, Ed Brehm with Guaranteed Rate. This decision proved to be a game-changer. Shortly after we began our search, a "coming soon" listing caught our attention. We scheduled a showing for the first morning the listing went live. By noon on the same day, we had presented their offer, and by the end of the business day, their offer was accepted, shutting the door on other prospective buyers. Acting decisively and being prepared gave them the upper hand in securing their dream home. Notably, even after discovering concerns during the inspection process, we were able to renegotiate, ultimately resulting in a purchase price below the asking price.

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Buyer #2:

I was referred to a buyer who presented a unique challenge—the struggle to establish trust. Trust between a buyer or seller and their realtor is vital. Despite my efforts, it became evident that I had not gained the necessary trust from this particular buyer. After several weeks of urging them to obtain a pre-approval, they had yet to do so. I explained that without a pre-approval, we would both be wasting valuable time. Regrettably, they insisted on proceeding without one, leading me to make the difficult decision of informing them that I couldn't show them homes until they had initiated the pre-approval process, either with one of my preferred lender partners or a lender of their choice. I emphasized that my goal was to position them for success when they found a home they liked and decided to make an offer. They assured me that they would comply, but a week later, they revealed that they had been working with a lender of their choice, refusing to share the lender's name or contact information. Their clear lack of trust in me as their realtor made it obvious I was not the right fit for them. In such cases, it's essential to recognize when personalities don't align and seek another realtor who can provide the guidance and trust necessary to navigate the market successfully.

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When choosing a realtor, it is crucial to select someone you like and trust. If you're interviewing a realtor and find yourself lacking confidence in their abilities or chemistry, I implore you not to hire them. There are numerous exceptional and professional realtors available who can offer the guidance you need. Don't settle for less. However, once you've found the right realtor, trust them and follow their experience and guidance. You'll be grateful you did.

 

Wishing everyone a happy summer!