buyers Buyers & Sellers home buying

Don't Sweat It... What Buyers Need to Consider in a Hot Market

By Tori Sokol on July 12, 2018
Tori Sokol

Summer is a prime time for homebuyers to set sights on a new home, as children are between school years and families of both buyers and sellers have the time to make a move. Because this is an opportune time to buy, it creates a competitive real estate landscape-- many are searching for a home at the same time. In a hot market, it’s imperative to be prepared and aware of what may impact your buying decisions and think about how you can set yourself apart to be in a unique position that will make you stand out in a pile of offers.


Educate Yourself to Give You the Upper Hand

1. Research the property. Spend some time learning about the home and its location. This will help you decide whether or not the home and the neighborhood is right for you and help you settle on a price you can feel comfortable offering.

2. Consider demand in the area. Check out what homes in the neighborhood are selling for and see what the current competition is. Are there similar homes in the area or is this property one of a kind and therefore going to go fast and for a higher price point? Visit property websites to investigate.

3. Ask about the seller. Don’t hesitate to ask your agent questions about the homeowner. By finding out how long they’ve lived in the home for, why they’re selling, how long has the house been on the market for and other related questions, you can build your strategy around their situation.

Once you’ve found the perfect home, moving forward with the buying process can be the most challenging part. You can’t be certain a seller will accept your offer over another buyer’s. We’re sharing 3  tips to ensure your offer is selected.


Stand out in a Competitive Market

1. Make an immediate offer. If you’re not prepared to make an offer immediately, look at homes that have been on the market 30 days or longer. 

2. If you’re in a multiple-offer situation, submit a photo and personal story about your family. Explain why you love the home and how it would be perfect for your family and turn it in with your offer. You want the seller to fall in love with you and feel you will love the home as much as they do.

3. Pre Qualification is essential in today’s market. It prevents you from looking at homes you’re not able to buy, and sellers know that when a buyer submits a pre qualification letter with the offer, they are ready to purchase the home today. Sellers don’t have to worry about losing a buyer with a pre qualification or choosing one buyer over another offer just to find out they don’t qualify. 


Being confident in your decision to put an offer in on a home is only the first step to buying. Give yourself the advantage against other potential buyers by acting smart, fast and personally. With these tips in mind, your dream home is as good as yours.

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