Inventory levels are at all all-time historic lows. Properties are going under contract within days, if not hours. How do you get an offer accepted in the most competitive real estate market we have ever seen? It’s the number one questions homebuyers are asking in 2021. Real estate agents who represent buyers are scrambling to figure out how to win against multiple offers and secure their clients that dream home. With so few homes and so many buyers, the pressure is on to get that property under contract.
This chart from the Florida Association of Realtors shows the available housing inventory in the Tampa/St. Petersburg/ Clearwater area is the lowest on record dating back to 2009.
In today’s competitive market, homebuyers are frustrated. And rightfully so. Agents tell stories of buyers putting in offers 10’s of thousands of dollars over asking price, and still getting beat out. And this on many properties. We hear stories of how this affects their clients. After handling thousands of contracts over the course of 17 years, I have a good grasp of the best tactics that your Realtor® should use to help you get an offer accepted- and most agents have no clue to even consider these.
Below is the top strategy for a crafting a strong offer when buying a home in a seller’s market. You can, and should, use a combination of these strategies to strengthen your offer and make it more appealing to a seller. Some strategies are more aggressive than others. Consult with your real estate agent to figure out the best strategies to use for your particular situation.