Snagging a House in a Hot Market

Image of hot market graphic.Some markets are already white hot and show little sign of cooling. With tight inventory, you can expect to see multiple offers, competing offers above list price, and addresses snatched up before the first open house.

So how are buyers laying hands on dream homes in markets like these? Here are a few options for the home hunter struggling to find a place to call their own:

1. Advertising for a home: It’s not unheard of for frustrated buyers to advertise for what they’re looking for, rather than the other way around. A buyer’s ad can be just the thing to make a homeowner on the fence bite.

2. Targeting the unlisted: Much like advertising for a home, submitting unsolicited “offers” to owners in a neighborhood where a buyer wants to be and get a nice little transaction underway. It’s not uncommon for owners in sought-after locales to receive letters from agents who have buyers ready to go.

3. Pocket listings: More common in larger firms, especially those with luxury properties, internal email about upcoming listings can find potential buyers before a home hits the market. This can save on staging and sometimes repair/refurbish costs that might have been necessary to make the home competitive on the market.

4. Zillow’s “Make Me Move” feature. More and more buyers are checking out Zillow’s feature, which allows people who are thinking about moving for the right price to list their home online.

If you’re in a hot market, how are you helping your buyers find the right home?

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