It’s no secret 2021 has been a crazy year for real estate. We are currently experiencing a hypercompetitive seller’s market with low inventory and many active buyers. This combination can lead to frustrated and burnt out buyers. Buyer fatigue occurs when exhausted buyers have seen too many properties, written too many unsuccessful offers, and are just done with the buying process. Sound familiar?
As wild as the current housing market may seem, navigating it as a buyer is possible. Keep reading to discover our best tips for navigating a seller’s market and avoiding buyer’s fatigue.
1. Hire a real estate agent you can TRUST!
Now more than ever, it is important to partner with an experienced agent. To avoid buyer fatigue, choose an agent who can balance writing a winning offer and protecting your interests. Select someone who clearly communicates and takes the time to explain the risk in waiving subjects. Dan Hamilton’s team brings years of experience to the table, paired with a passion for excellence and committed customer service. We listen. We research. We work with you to find the right home for you.
“Lisa Martin is truly the best!! She went above and beyond to help us find our home. She never asked us to compromise on what we wanted or felt comfortable with, and she fought hard to get us the perfect house! Thank you, Lisa!”Caroline McEntire, 5 Star Google Review
Hear from more of our satisfied clients on Google.
2. Meet with a mortgage specialist.
Speak with a mortgage specialist to help you get the most out of your money. They can walk you through the best type of financing for your individual situation and share helpful tips based on their knowledge of the industry.
3. Get fully and thoroughly pre-approved.
Make sure you are fully pre-approved before beginning your home search. Fill out all the necessary paperwork ahead of time so you can be ready to jump on your dream home. In a real estate market where homes sell in days, knowing exactly what you bring to the table can save valuable time in negotiation.
4. Consider updating your wish list.
If you have lost out in previous offers, speak with your agent about reevaluating your wish list. You can increase the number of potential homes by broadening your preferred neighborhoods or updating the minimum property size (just to name a few). Additionally, the properties in less popular areas may have reduced audiences which lowers the amount of competition. You never know what hidden gem may lie outside your original expectations.
5. Don’t give up!
After countless contract rejections and limited options, you may be ready to throw in the towel and pause your home search. You wouldn’t be alone; families across South Carolina agree with you. But that is precisely why you should continue searching! As tired buyers drop out of the market, more homes are becoming available. Experts speculate this shift will increase interest rates in the future, so now is the time to buy!
The housing market in 2021 is unpredictable, leaving many potential buyers confused and frustrated. But equipped with facts and a REALTOR® you can trust, you can find the home of your dreams.
Dan Hamilton is the founder of Hamilton & Co. and the lead listing agent for the team. He is the only agent in the Upstate endorsed by Shark Tank star and real estate mogul Barbara Corcoran. Additionally, Dan hosts a weekly radio show on The Answer 94.5 and 106.3 WORD giving tips and advice on real estate and is a frequent contributor for real estate on Your Carolina TV show on WSPA Channel 7.