A homebuyer who considers the seller's perspective may be better equipped than others to enjoy a successful property buying experience. In fact, this buyer should have no trouble submitting a competitive offer to purchase – something that may lead to a fast home purchase.
Now, let's take a look at three tips to help you analyze the seller's perspective.
1. Review a Home Listing
A home listing provides a great opportunity to learn about a house. It also enables you to analyze how long a house has been available, a residence's features and other factors that may dictate your decision to pursue a residence.
Assess a home listing closely. If you believe your expectations fall in line with a seller's after reviewing a listing, you may want to consider setting up an in-person showing. Or, if you believe a home does not match expectations, you may want to continue to look for your dream house.
2. Check Out a House In-Person
If you find a home you may want to buy, it generally is a good idea to set up an in-person showing. At this point, you can see how a seller has maintained a house and determine if a home is right for you.
Typically, a real estate agent is ready to respond to a buyer's concerns and questions during a showing. This housing market professional may be able to provide insights into why a seller has listed his or her residence. And as a result, you can use these insights to make an informed decision about how to proceed with a house.
3. Understand the Local Housing Market
The local housing market fluctuates, and it may favor buyers or sellers. If you study the local real estate sector, you can differentiate a buyer's market from a seller's market – or vice-versa.
In a buyer's market, there may be an abundance of quality houses available at budget-friendly prices. On the other hand, in a seller's market, there may be a shortage of first-rate houses, and those that are available may be in high demand among buyers.
Keep in mind how a seller's perspective may vary based on the current housing market's conditions as well. If a buyer's market is in place, a seller may be ready to accept a competitive offer to purchase his or her residence. Conversely, in a seller's market, a seller may be reluctant to accept an offer to purchase that falls below his or her initial home asking price.
Lastly, as you get set to embark on the homebuying journey, you may want to hire a real estate agent. This housing market professional can teach you everything you need to know about buying a house. He or she can help you analyze the seller's perspective and make an informed home purchase too.
Ready to navigate the homebuying journey? Use the aforementioned tips, and you can assess the seller's perspective and boost the likelihood of enjoying a successful homebuying experience.
About the Author
Carolyn Andrews
Carolyn Andrews has over 30 years licensed Brokerage experience in both California and Colorado. Born in England, Carolyn moved to California in 1980, then relocated to Denver, Colorado in 1991. Carolyn has also received recognition for Top Sales at RE/MAX Alliance Aurora in 2007-2008 and is a member of the RE/MAX Hall of Fame & Chairman’s Club, as well as a recipient of the ReMax Lifetime Achievement Award. Carolyn has sold over 2000 homes personally in her career. Carolyn has been actively involved in many aspects of the Real Estate business including investment property, luxury homes, mountain resort property, skiin/ski out, REO/default management, loss mitigation, valuations, and disposition. She has been a speaker and panelist at several conferences and has been consulted on many occasions by various organizations in the REO/financial industries for her expertise and served on many boards. She has attended numerous ongoing classes to stay abreast of changes in the ever-evolving Real Estate industry. She is the prior State Director for Colorado for VAREP(Veterans Association of Real Estate Professionals). She is a member of 3 boards of Realtors including Metro Denver, Colorado Springs and Summit County mountain areas. She heads up The Andrews Group and is or has been an active member of NAR, CAR,REOMAC, CIPS, CRS, AREAA, NAPW, NAHREP, and is an original member of the ELITEReal Estate network. She was ranked #1 for most homes sold in Denver 2007 by Denver Board of Realtors, #2 for 2008, and #2 for 2009, #5 in 2010 and #4 in 2011 and has been consistently in the top 10 ever since. Carolyn Andrews has been a top rated Endorsed Local Provider for the Dave Ramsey Organization and also a Top Producing agent for 2018 for the Homelight Company.
