Are you preparing to buy a home in La Jolla? If you’ve been watching the market closely, you likely already know that competition can be fierce for the best listings. As a homebuyer that may be competing with others, you’ll need to ensure that your offer rises to the top. In this blog post we’ll share a few strategies that home buyers can use to ensure their bid is the one that stands out in today’s competitive real estate market.
The Current Market in One Word: Competitive
You might be surprised to discover that while there are thousands of houses, condos, townhouses and other properties for sale in La Jolla and greater San Diego at any given time, the real estate market here is actually very competitive. Many properties will receive multiple offers within the first hours and days after they are listed for sale, which means that if you’re entering the market and hope to close on your dream home you’ll need to be ready to move quickly when the opportunity arises.
Be Likeable and Build Rapport with the Seller
Real estate is a relationship business, and being friendly with the seller and their agent can go a long way. Many sellers have an emotional attachment to their home, especially if they have lived in it for a couple of decades. They may feel the desire to pass the home on to a new owner who is deserving, or whom they feel will keep the property in excellent condition. Spend some time getting to know the seller and build a rapport with them. Show genuine interest in their life situation and figure out why they’re selling the home. At worst, you may get an interesting story or two out of them and at best, you’ll make a new friend who will decide that you’re the best one to sell their house to.
If All Else Fails, Be Ready to Escalate
If you feel like the opportunity may be slipping away from you in favor of another buyer or if you receive a counteroffer from the seller, you can try to sweeten the deal by escalating your bid for the home. This is best done on the advice of a professional real estate agent, as the negotiation process can get a bit messy when multiple bidders are involved and you’ll need to ensure that you come out ahead.
The real estate market here in La Jolla can be challenging to navigate, and you’ll need an experienced team on your side to ensure you close on the property you’re chasing after. Contact the Berkshire Hathaway HomeServices California Properties team before you begin searching for your next home. We’re happy to consult with you and share our guidance on how to discover the available homes that suit your needs and price range. You can reach us by phone at (858) 405-4004 or visit our contact us page.