Inventory is DOWN and SALES ARE BRISK.   The Seller market is HOT !   All of a sudden home owners around the Austin Area are seeing multiple offers coming in on their homes.  One look at the current Inventory Level for homes in Cedar Park and Leander TX shows why.  This is especially true when considering homes under the 300-400K price range as can be seen here.  The best way to combat this situation as a Buyer is to be prepared... Read on for the TOP 10 Ways Buyers Can WIN in this Market.

HERE ARE SOME GREAT TIPS YOU CAN USE TO PUT YOU AT THE TOP OF  THE LIST WHEN YOU ARE COMPETING WITH MULTIPLE OFFERS ON PROPERTY.

1.  PRE-APPROVAL !  If you will require a loan to purchase as is the case with most Buyers it is very important to remove uncertainty about your ability to perform on a contract.  This is especially true if you are competing against a CASH purchaser where the chances your offer being accepted are greatly reduced.  Having a FULL BLOWN APPROVAL from your lender may get you the extra consideration you need.  This is especially true if you make a full price offer and the CASH purchaser has attempted to come in lower based on the strength of the cash offer alone.

2.  Study the Market   Do your area "diligence" and research upfront so that when a home comes available you can make the buying decision quickly.  Taking a day or so to analyse the offering and think about the decision is a luxury that may not exist if you want an opportunity to buy.  Others are "ready" and willing to move very quickly to secure good properties.

3. Be REALISTIC about your offer -  In a competitive Market it is not uncommon to have an expectation that the list price is the starting point for a "Mini-Auction"  be prepared to consider paying MORE than the asking price in your initial offer.

4. Move FAST - Today there are many avenues to having a HOT SHEET or information feed from the local MLS (Multiple Listing Service used by Licensed Agents) to get the most current listing information delivered to you immediately when they hit the market. Find an Agent willing and able to accommodate your needs by being available to help you move fast submitting an offer.

5. GO Paperless - The best agents will have access to computer based contract forms and electronic signature platforms to assist you with your offer.  This can be a tremendous time saver and may be an advantage to you.   Listing Agents would most often rather deal with offers submitted on a platform or manner that is legible and "workable" without having to "handle" "reprint" or "copy" stacks of paper.  It may sound insignificant, but many firms have focused their channels of attention to the what is considered a more "mainstream" form of communication.  Ask a teenager if they would rather spend time watching TV or YouTube, whether they would rather speak on the phone or TEXT and you may begin to understand what I mean here.

6. SUBMIT MULTIPLE OFFERS - Part of the reason Sellers get multiple offers is that some Buyers are WRITING MULTIPLE offers.  WARNING - this should ONLY be done with careful advisement from your Buyer's Agent.  There are ramification and potential liabilities that may occur when a Buyer has more than one offer accepted at a time.  It is necessary for the Buyer to have a termination option, to release them from obligation on an unwanted property.

7. DON'T GIVE UP - Sometimes a Seller will accept an offer ahead of yours only to find out the Buyer doesn't qualify or can't make it to closing for another reason.  Keeping a watch list of these homes may come in handy if previously held contracts fall through and the home returns to Active Status.  However your best bet may be to submit a Back-UP offer on these homes so that if the deal breaks down, you will be first in line to move forward.

8. SEEK QUALITY REPRESENTATION - Interview Agents and make a decision about who you will have representing you BEFORE you get tied into a transaction.  I have interviewed hundreds, if not thousands of Buyers who tell me about problems they had with agents. USUALLY this is because little if ANY energy was spent by them SELECTING an agent to represent them.  Many pick and agent by default, work with whoever answers the call on-line, or pick someone off a property ad.  Unfortunately, they never took any time to explore the Real Estate Company or Agent's personal Track Record, References or Experience and very often they wish they had been more diligent.

9. ADJUST THE TERMS OF YOUR OFFER - While price is often paramount in a Seller Decision, there are many OTHER TERMS that may have a significant impact on a Seller's decision to accept your offer.  Have your Agent consult the listing Broker and find out some of the Seller's preferences such as Title Company for Closing and Closing Dates.  There are several ways to ADJUST a sale contract that can make a big difference to the parties involved without ONLY focusing on the SALES PRICE.

10. ASK YOUR AGENT - Finally, if you have chosen your representation well you should have an invaluable resource on your side.  The best agents will know all the "tricks of the trade" and will show you how to be more competitive no matter what situation you are in!