Imagine a new property has just hit the market and you know as soon as you view it online it's the perfect house for you. It has the dream kitchen you've been waiting for, a beautiful and private yard, and the perfect location in your ideal neighborhood. The only problem is you know there are dozens of other buyers out there who are fawning over this house just like you. So how do you get your offer accepted when there are so many other buyers in love with the same property? Read on for our 5 tips that will help you successfully buy your dream home in 2020.
5 tips that will help you buy your dream home in 2020
1) Be the first to visit the property and the first to write an offer.
Sometimes getting your offer accepted is all about being the first person to the party. If you're the first buyer to tour a new listing and the first one to submit an offer, the seller may decide to accept your offer even though there are dozens of other buyers wanting the same opportunity. So, we highly recommend you hire a team of agents who can get you you into your dream home quickly and write your offer immediately. Working with only one agent puts you at the mercy of that agent's schedule. You don't want to miss out on your dream home because your agent is on vacation or busy serving another client.
2) Hire a buyer agent team that knows how to work with listing agents and sellers.
We've learned over the years that having a constructive conversation with the selling side is crucial to creating a positive outcome for our buyers. So, we're very intentional about using our communication skills to create a connection with the other party that helps them feel comfortable working with us. Very often it's our soft skills and reputation in the agent community that are the keys to a successful offer.
3) Learn more about the seller and what is most important to them.
It's critical for your agent to learn more about what is motivating the sale and what is most important to the seller. Usually, your agent will learn the seller is concerned about much more than price. For example, the seller might prefer a specific closing date to accommodate the purchase of their next home. Or the seller might have a strong emotional tie to their home. It could be very important for the seller to choose a buyer whom they feel will love and care for their home as much as they did.
4) Write a personal note (or "love letter") to the seller.
Now that you and your agent know a little more about the seller, you should write a short letter to the seller and include the letter with your offer. Share a little of your own story and why you love the home. Your goal of the letter is to create a connection with the seller and make them feel comfortable choosing you. Very often it's the personal letter, not the price, that causes the seller to choose a buyer over other buyers in a multiple offer situation.
5) Read our article on the 22 ways to write a winning offer.
Our article takes you step-by-step through the offer to purchase and helps you put forward a smart offer that protects your best interests. All of us on the Mad City Dream Homes team have guided many clients through this process and are here to answer all of your questions.
Don't miss out on your dream home
So many buyers in the Madison area are missing out on their dream home because they don't have the skills, experience and supporting team to help them effectively compete in our low inventory market. But, if you follow our 5 tips above, you can make your dream home happen in 2020.
Each year we help many buyers successfully purchase their home simply by being the first to tour a new listing and being the first to write an offer. And last year alone, we helped 23 clients buy their home by writing an offer that was accepted over all other competing offers. Our team has all of the skills and experience you need to help you achieve your real estate goals in 2020. For a short consultation, please reach out to your favorite Mad City Dream Homes agent. Let's meet for coffee and discuss a plan that will help you buy your dream home in this year's competitive market.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred