2022 Advice For Buyers From A Realtor®
/2022 is shaping up to be another tough year for buyers looking to purchase a home. With low inventory and high demand it will be very competitive to get your offer accepted. I wanted to share my thoughts as a real estate agent, broker and Realtor® on what buyers can do to make their home search more successful.
Be PREPARED! - Yes it sounds obvious but be ready to make competitive offers. The market is hot so be ready to see high prices, multiple offers and properties moving in a matter of a few days.
Know Your Market - Know what you are looking for, how big, how many square feet, what area, what school district, what side of town, etc. The more the better, this will get you to really be focused on the area but more importantly know the area. Know how fast homes move, what sales prices to expect, and how much over list price they usually sell for. The biggest shock unprepared buyers have is having false expectations or hoping to find a home that just doesn’t exist in this market.
Details Matter - Too often you hear about buyers making offers way over asking price and they don’t get their offers accepted… WHY? Because not all offers are the same and details matter. Instead take the time to go over the contract with your agent, discuss how your offer can be made to be more competitive.
Lender Choice - Not all mortgage lenders are the same and it matters to listing agents and sellers. As a buyer you might like the marketing of certain lenders but it is the listing agent who knows who does a good job and who creates delays in closing. As your agent for a lender recommendations and go with a local choice, chances are they are well known for doing a good job with listing agents.
Get Full Approval - Having a pre-qualification just isn’t enough in this market, the further approved you are the better. Pre-qualifications are easy to get, full approvals are not. Take the time to go through the process to be fully approved and it will make your offer stand out. Why? Because the seller will know you are much further along and vetted by the lender than someone with a pre-qualification.
Act Fast - Listings are usually on the market for less than a week, and in hot times usually a few days so be prepared to act fast. That means you go view those homes on the first or second day it hits the market. The weekends are still the most popular but be ready at any time.
Bottom line is to be prepared, know what to expect, know the stats and don’t forget the details. Don’t let other buyers bad experiences ruin yours, instead get with the right agent to show you what it takes to be competitive and in the best spot possible to have your offer accepted.
With the heart of a teacher I seek to educate my clients about the process of buying, selling or renting real estate. I strongly feel an informed and educated consumer will be more confident & make better decisions.
Have questions about this or other topics, do not hesitate to contact me.
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Luis is a Dallas/Fort Worth area Realtor and Broker for Serve Realty. He enjoys the Dallas/Fort Worth area, houses, and helping clients buy and sell real estate.
Email: Luis@ServeRealtyTx.com
Call/text me if you are looking to buy / sell a home in the Dallas Fort Worth and surrounding area! 214 783-0535
Luis Cuevas, Broker/Realtor®
Serve Realty
(214) 783-0535
Luis@ServeRealtyTx.com
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