This year will be a different year for real estate. Inventory will be lower than it was last year. Sales will be higher. Consequently we think we'll see the days on market for sold listings move lower. We are already beginning to see this happen right now, with many well-priced homes receiving multiple offers within a few days of entering the market.
If you're in the market for a new home, you need to be prepared to act quickly. Otherwise you risk seeing your dream home slip through the cracks and into the hands of another buyer. Here are a few things you can do to prevent that from happening:
- Obtain your mortgage pre-approval. Your pre-approval will help you narrow your target price range and act quickly when the time is right to make an offer.
- Work with a full-service buyer agent. Among many other benefits, your buyer agent will provide you with a few important services:
- First, your buyer agent will set up an automatic search of the MLS for you, so you receive immediate notifications when new listings matching your key criteria hit the market.
- Second, when you are ready to tour some homes, your buyer agent will schedule all of your showings for you, so you are able to view each home quickly and according to your schedule.
- Third, when you are ready to make your offer, your buyer agent will sit down with you and draft your offer. Or, depending on your comfort level, you and your buyer agent can work through the offer remotely via electronic signature. When your offer is drafted and your signatures obtained, your agent will then immediately submit your offer to the selling party.
There are many benefits to working with a full-service and reputable buyer agent. This year the importance of these benefits will be magnified, as home sellers begin to gain some leverage in a market that has heavily favored buyers for the last several years.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
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