
News about the Real Estate Market Is Hurting Your Business (But You Can Use It to Your Advantage)
It’s almost impossible to avoid being exposed to news nowadays. Besides being on TV and radio 24/7, people get notifications on their cell phones, in
Many headlines would have you believe that bidding wars and houses selling for over the asking price are a thing of the distant past. But it was only a few weeks ago that buyers wouldn’t have dreamed of finding a house where that wasn’t the situation.
There have certainly been signs of the market softening a bit in favor of buyers, but bidding wars are still a thing, as well as houses fetching offers over asking price—even if it isn’t happening on every listing.
So if you’re a buyer right now, there’s still a good chance you’ve “lost” a house to another buyer within the past few weeks, and you’re still feeling the sting that comes with it. You may be wondering when (or if) the market will truly give you a fair shake at getting a house…
Well, don’t lose hope! In fact, you may even get a second chance at a house you lost to another buyer.
According to this recent Axios article, nearly 15% of pending home sales failed to close in June. Whether it was due to buyers not getting their mortgage, home inspection issues, the house not appraising for the sales price, etc., many sellers found themselves looking for a new buyer or going back to the buyers whose offers weren’t originally accepted.
So if you lost out on a house recently, there’s a chance you may get a second bite at the apple!
If and when that happens for you, here are a few things to keep in mind:
The Takeaway:
There are signs and headlines that the market is shifting in favor of buyers, but they’re a bit misleading. Houses that are desirable and priced appropriately in the market are still selling fast, with multiple offers, and often over asking price. So if you’re in the market to buy a home, you still need to be aggressive and make a strong offer.
However, if your initial offer isn’t accepted, don’t lose hope! With 15% of home sales falling through in June, there’s a chance you may find that the buyer they chose backs out and the seller checks to see if you’re still interested.
If that happens, be careful about lowering your offer, and don’t dismiss your second chance due to emotions or concerns about what was “wrong” with the house.
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It’s almost impossible to avoid being exposed to news nowadays. Besides being on TV and radio 24/7, people get notifications on their cell phones, in
Want a strong dose of reality? Are you sure? Because this is going to sting: In my opinion, the vast majority of agent Facebook pages
Question: Have you seen the postcards most agents send out? BOOOR-ING! I’m pretty sure they make the prospects sleep-walk on their way back inside the
First and foremost, no, this article wasn’t written using artificial intelligence. Or does that sound exactly like something AI would say to throw you off
In this spirit of transparency, we admit we’re totally biased when we say “the most clever.” Why’s that? Because we created them. At any rate,
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