As housing demand continues to greatly outpace supply, 2021 is turning into a seller's market.

But it's not all bad news for buyers: Low interest rates continue to give them opportunities worth pursuing. One reason why Homesale Realty has been so effective over the last year is our ability to help clients navigate a market unlike any other in recent memory.

Buying a home in a seller's market is a little like sailing across the ocean. The old mariner's adage definitely applies: "You can't direct the wind, but you can adjust your sails." That equals finding ways to help clients move toward their goals while managing their energy and expectations.

Let's look at some of the best ways to guide buyers in today's market:

• Prepare to Look at Lots of Homes
  Patience is the most important virtue buyers can have right now. As their agent, your role is to focus their attention in productive ways, knowing full well they may miss out on one, two, or even three homes they like. Be sure you understand their goals inside and out and are always sending relevant listings their way.
  
  
• Encourage Buyers to Get Pre-Approved
  In pre-approval, a buyer has connected with a particular lender and submitted all the relevant details to know precisely what financing package he or she qualifies for. After this step, actually issuing a loan is a matter of days rather than weeks. This helps buyers compete against those who might have cash in hand already.
  
  
• Don't Overlook Those "Stale" Listings
  "Stale" listings are those that have been around for a while but haven't attracted a buyer. In some markets, stale could mean 60 days – in others, it could mean 10! Whatever the case, don't assume these homes are not worth looking at. You could find a diamond in the rough that's also much easier to close on.
  
  
• Be Ready to Offer More than List Price
  From coast to coast, many homes are selling for far more than their asking price. The listed price is, essentially, an "opening bid." Prepare your clients for the possibility of offering up to 1% over the listing price, but don't go overboard: Some homes are genuinely overpriced, and you'll need to be able to spot those risks.
  
  
• Move Fast!
  Homes may be on the market for only days and showings might last only minutes. Such is life in a fast-paced seller's market, and buyers must adapt to win. That said, buyers will look to you to clear the path. Set the right expectations for communication so you can get them the information they need – and get quick answers back.
  
  
• Look for Perks to Offer Sellers
  Virtually all homes are selling as-is, and seller concessions on closing costs are out of the question. On the flip side, you may need to offer perks of your own. These can include things like flexibility on move-in date, earnest money with your bid, or an offer to pay the seller's costs (such as title fees and commissions.)
  
  
• Know When It's Time to Wait
  You want your clients to have the best experience possible, even if it isn't always best for your bottom line. While it's often wise to encourage buyers to jump in with both feet, that might not be the case for all of your leads right now. If they lack the time, energy, mettle, or financial backing for the ride, it may be best to wait.

Our agents are equipped to thrive in any market with best practices for customer care, marketing, and growth. Contact BHHS Homesale Realty to find out more.