Are You a Buyer Struggling with Today's Market?

Are you a buyer struggling with today’s market and are discouraged… or do you know someone who is?

You’re not alone. For nearly 10 years the market has been seller favored, and the past 5 years particularly seller favored with less than 3 months of inventory. It’s a tough market, yet during this past decade we’re helped hundreds of buyers from all economic backgrounds find success and start or continue their path of homeownership. So let’s talk about how you can get unstuck and move forward…

Clear Vision

First, we start with a potentially challenging truth… if you have a down payment and mortgage pre-approval and the desire to purchase a home and it's taken more than 2-3 months… you are likely experiencing one (or both) of these:

Ineffective Representation… your broker is not doing a great job continually educating you on the market (with actual data not ‘feelings) and helping you develop search & offer strategies which help you succeed. In addition, they should be also helping you understand the costs of waiting, especially as home prices continue to rise and make your search more challenging.

Unrealistic Expectations… if your broker is providing education, then perhaps you are relying too much on faith the market will shift in your favor despite available data or trends, or you’ll “hit the jackpot” with the exceedingly rare ‘perfect’ opportunity no one else sees. Unfortunately, the odds of either of these are often extraordinarily low, while the costs of playing this gamble can be significantly high when prices are increasing 5-10% year to year.

Effective Consultation & Strategies

The key to avoiding the challenges and keeping you moving forward to a home you truly enjoy and putting equity in your pocket rather than watching is float by is truly effective buyer representation which includes:

Needs Consultation… a deep understanding of what you need, want & dream of in a home and why its important to you enables your broker to help guide you to the most rewarding opportunities (and compromises*) in the market.

(*A good broker is an effective compromise consultant… you’re not going to get everything you want, need or dream of no matter what your budget… so they guide to getting the best mix of these within your market and means.)

Buyer Feasibility Study… your broker should provide a feasibility study to show your recent market history so you can understand the listing volume, quality and competition. Without this information, it's difficult to adopt effective search and negotiation strategies. This should be updated at least once a month through your search.

Successful Strategies… using the consultation and feasibility study, your broker will design effective search strategies to bring the best opportunities to you, and coach you on the risks and benefits of successful offers for your market so you can win the right home when you find it.

Don’t give up on homeownership, it is one of the most rewarding experiences people can have… personally and financially. The sooner you get started the greater the rewards, so don’t let ineffective advice or unrealistic expectations stand in your way.