Here’s how buyers can get serious about winning a home in this market.
Without a doubt, we’re in the middle of the most challenging market for buyers I’ve seen in my 16-year career. If you aren’t in it to win it, you’ll struggle to find a good home. How can you put in the effort to achieve your buying goals?
First, let’s discuss the difference between easy things and difficult things. If you compare a half-mile walk to an Iron Man competition, it’s clear that the short walk is easier. Iron Man competitions are known for being hard, and people who compete in them know what they’re getting into.
Why do I bring this up? If you’re a buyer in today’s market, you need to be like the competitors in an Iron Man competition. Prepare yourself for our market because if you don’t, someone else will. Many buyers aren’t taking things as seriously as they should be. For example, if you don’t get pre-approved, someone who did will win your dream home.
It’s a lot of work, but it’s worth it so that you don’t have to pay more in the future. Home prices are increasing, so if you take things easy for eight or nine months, your wallet will feel the impact.
So what does it mean to get your act together? First, it means you’ve spoken to a lender, you know exactly what your monthly payment will be, you know what type of loan you’re getting, and you know exactly what your price range is. In other words, you’ve completely fallen in love with the numbers.
Second, you have a solid relationship with an amazing real estate agent. This has to be someone who can get the job done, submit strong offers, and give you tough advice other agents won’t. When I work with my clients, I tell them that I may ask them to do things that make them extremely uncomfortable. However, I do this because I know what it takes to win in this tough market.
Finally, when your agent gives you advice, please listen to them. I can’t tell you how many times a buyer has come to me and said, “My friend told me not to listen to you and do this other thing instead.” Every time, they come back to me later and tell me they wished they had listened in the first place. Your friends and family may mean well, but they probably aren’t experts. In this market, an extra month or two looking for a home can mean spending a lot more money down the road. When your wallet is on the line, listen to the experts.
I hope you get from my tone that this market is no joke. I just hate to see buyers lose money because they weren’t serious from the beginning, so if you’re looking to purchase a home, please call or email my team. We’d love to help you get real about winning.