Multiple Offers on NEW LISTINGS is the new norm……
Multiple Offers: For would-be home buyers, competing against multiple offers to win the home of your dreams can be a very stressful time. It can be especially difficult if you’re not adequately prepared with the right multiple offer strategies. Now, if you’re working with an experienced agent who’s been down this road before, then you shouldn’t have to worry too much about what those strategies are and which one(s) might be best to employ in a given situation. That being said, not all agents are created equally. Some have much more experience with heated negotiations than others.
Here in the St. Louis real estate market, and in many other markets throughout the United States, we are experiencing a “Seller’s Market.” Our buyers are shopping for his or her next dream home in a seller’s market, when inventory levels are drastically low and there are not enough houses available for a large number of potential buyers. This often leads to homes selling much quicker than normal and at a much higher price. The price is commonly inflated due to multiple offers coming from multiple buyers. Basically, it all boils down to the basic economic principle of supply and demand. If demand is high and the supply is low then prices go up.
I’m finding that ranch homes are in high demand at the moment, along with villas. It’s important to have a buyers agent represent you if you’re looking for a home. An experienced Realtor knows techniques that may make your offer stand out above the rest in a multiple offer situation.
Contact Rick or Tracy Ellis at 636-299-3702 or 636-699-2197 if you’re thinking of buying or selling a home!
Tune in to The Rick and Tracy Ellis Show on 97.1 FM News Talk Saturdays at 4:00 PM & Sundays at 10:00 AM