By: Brandon Weiss & Mark Adelson

How Buyers Can Succeed in a Seller’s Market

Tags: Real Estate, Toronto, Housing, Market,

Rising prices and tight market conditions have made it a tough time to be a home buyer. If you’re on the hunt for a new home, you want to put yourself in the best position possible to get the house you want in the time frame you’re looking for.

Don’t stress, there are a few key tips that can help you gain an advantage in the current market. Read on in our newest blog as we break down how to acquire your dream home in the market today.

Make sure your offer is competitive
Perhaps the most important tip we can give you is that if you’re not willing to submit a competitive offer, don’t bother submitting an offer at all. The more bids there are, generally the higher the final price will be. Submitting an offer that isn’t competitive will just push the eventual successful home buyer to offer a higher price. That means that if you’re interested in a home in the future, you’ll have helped the market value increase that much more – likely not something you’re looking to do as a hopeful home buyer.

Expand your search
If you have your heart set on a specific neighbourhood – let’s say, a walk from work, or a walk from your extended family, it may be time to broaden it just a bit. There might not be homes for sale in that ar ea that fall within your price range, and if there are, in the current market conditions, odds are that there are many other offers on the same home. You’ll be more likely to have success if you’re a bit more flexible and open minded when it comes to where you want to buy, as opposed to being highly specific. For example, picking the same city, instead of the same neighbourhood.

Be ready to make an offer
Before you even put in the time and effort to go view a property, make sure you’re in a position to do s o. That means making sure you’ve spoke with a mortgage agent, and having your current housing situation set up where you’re ready to make a move. This is beneficial because it shows that you’re ready to act on a property, and prepared to move in quickly if necessary.

Build relationships with local real estate agents
Building relationships with local agents is key to getting first dibs at looking at a property, and potentially putting in an offer if it meets your expectations. Keep in mind that picking up yo ur phone and calling an agent is a lot more personable and you could receive a faster - even immediate response - as opposed to emailing.

Looking to work with personable and experienced agents? We would love to hear from you! You can contact the Adelson + Weiss team today, and we would be happy to answer any questions you might have and help you get started on your exciting home - buying journey. For Brandon, call 647 - 782 - 2277. For Mark, call 416 - 275 - 0773. You can also contact us through the portal on our website here: http://www.adelsonweiss.com/contact/ , or by email at clientcare@adelsonweiss.com .