INVENTORY IS LOW
There are several factors that indicate that we’re in a competitive real estate market. One of the most obvious signs is when there are very few homes for sale. When the inventory of homes for sale is low, you will have fewer homes to choose from and more competition from other buyers for listed homes. A Realtor® that understands the current market and can get you in to see new listings quickly, can also help you to close the deal on the home you are looking for.
HOUSES ARE MOVING QUICKLY
Another sign of a competitive market is the quick sale of new listings. If you are shopping for a home in a competitive real estate market and you do not attempt to view a listing the first day it is for sale, it could be sold before you ever have a chance to take a look. To understand the market in the area you are looking to buy, a top buyer’s real estate agent can review statistics such as average days on market to offer sound advice.
An experienced Realtor® is priceless, they know how to compete in a multiple offer situation and negotiate the results you want.
Probably the best part of having a buyer’s agent is that it costs you nothing! The buyer’s agent gets a commission from the seller of whatever home you choose, so they really are only working for your interest.
During a competitive real estate market, buyers need to accept the fact that they will be competing with other buyers. A multiple offer scenario is the best case for a seller, but is a challenge for a buyer. It is very important that if you’re buying a home in an aggressive real estate market that you have the right Realtor® to fight on your behalf.
FIND YOUR HOME WITH MIKE THOMAS ASSOCIATES REALTORS®
If you are ready to buy, and don’t know where to start, call today and we’ll help you get started. Mike Thomas Associates Realtors® are the real estate market experts in the Greater Fort Wayne area and Northeast Indiana.