You are thinking of buying a home, you shop online and there it is… the perfect home. The listing says I just went on the market so you pick up the phone and call your friendly local real estate company to schedule a showing. Your heart is pounding with excitement as the phone rings. On the other end you hear, “This is REALTOR John, how can I help you?”
You excitedly tell John about the home you just saw last night and then he drops the bomb… “Sorry, but that home is under contract with another buyer”. You think, “How can that be? Is real estate really selling that fast?”
The simple answer is yes, in many cases homes are sold the same day they hit the market. So how does this happen? Savvy buyers that are working with local agents can often submit an offer sight unseen relying on the contingencies to get them out should they decide they don’t want the home after seeing it.
The standard Purchase Agreement used by most local Traverse Area REALTORS has an inspection provision in it that allows time (generally 7-21 days) for the Buyer to do any inspection they deem necessary (if any) and that includes visual inspection of the property. In addition, those same agents have the buyers set up to receive an automated email the moment a new listing (meeting their criteria) hits the market. Even out of town buyers can sign electronically and an offer can be submitted minutes after being listed.
So how do you gain an edge in a competitive market? Be sure you are working with a REALTOR who has sold a lot of home in the past year or so. I do not mean listing homes, I mean SELLING them. The listing agent (the person who’s name is all over the signs) may be great at getting a listing, but it is the Buyer’s Agent who does the selling and if your agent has sold a lot of homes recently, they must know how to get their clients offer accepted.
My team for example, averages 80-100 transactions per year where the average agent may sell 6-12 per year. If you are in the market for a home or property in the Traverse City area, please give me a call to discuss your needs. There is no obligation. I can be reached at 231-218-5199.
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