number of homes available, or a buyer’s market, in which there are more homes available for sale than buyers. A major mistake both sellers and buyers make in the real estate market is assuming that a seller’s market is to the seller’s advantage and the buyer’s market is to the buyer’s advantage. Forget the market for now. The seller’s ultimate goal is to get you to buy their home, period. Keep the ball in your court — with a trusted, professional real estate agent to guide you through the process — and you’ll have a less stressful and more satisfying and successful home-buying experience. If you have done your research, if you are fully prepared for the process, and you’ve hired a top-notch buyer’s agent, you are well on your way. For example, if you come in confident, with a strong offer and a mortgage pre-approval letter in hand, you’ll already stand out from all the other buyers interested in the same home and vying for the seller’s attention.
YOUR POWER IN A BUYER'S MARKET
Of course, it’s naturally easier to gain the upper hand in a buyer’s market, in which there are more homes available for sale than there are people looking for homes to buy. In this case the housing market is more favorable to buyers. Buyers gain ultimate negotiating power and can be much more selective about which home they choose to purchase in the end.
YOUR POWER IN A SELLER'S MARKET
Things get a bit trickier in a seller’s market, in which there are more people searching for homes than there are homes available
3
Powered by FlippingBook