The current real estate market is crazy – and buyers are doing something about it. Many tired homebuyers are dropping out of the market, frustrated and willing to wait for easier times. Today on Your Carolina, Dan talks about how to avoid buyer’s fatigue and why buyers in Greenville should keep persevering in this competitive market.
Buyer’s fatigue occurs when determined buyers make offers on homes, maybe even over listing price, and still don’t get accepted. It occurs when a buyer drives by a new home for sale and calls the listing agent only to discover the home sold within 15 minutes of being on the market. It can occur when a buyer continues getting beat out by all cash offers and just can’t compete. No matter the situation, these circumstances are understandably disheartening, but now is not the time to give up.
Dan explains that despite these unfortunate circumstances, now is not the time to pull out of the market. The real estate market is slowing down, even if only a little bit, with the onset of summer and family vacations. This means more houses are becoming available to buyers. Eventually, the increased inventory will result in higher interest rates, so now is the time to take advantage of both increased inventory and lower rates.
To the buyers that are willing to persevere and take advantage of the changing market, Dan offers some advice to avoid burnout. First, come to the negotiation table with your best offer first. With so much competition, there’s no reason to invest time and energy in a complicated negotiation. Second, hire a talented real estate agent you trust. Hamilton & Company’s Buyer’s Agents are experts prepared to handle this chaotic market and look out for your interests. Partnering with a professional can make the home search a little easier. Finally, consider readjusting your home wish list. Dan had this to say about home buying expectations:
First of all, you want to expand your search geographically. Consider different areas in the Greenville area. Next, examine your must haves and your wants. Some of those wants may have to fall off the plate a little bit. Finally, be patient and just keep an eye out there.Dan Hamilton, Hamilton & Co. Team Leader
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.