It is an all-too-common situation in this hot market in The Woodlands.
My buyers were seeking a townhome; a year ago, that wouldn’t have been too much of a problem.
But the newly surging home market – and the diminishing inventory – had now created competition among buyers for Woodlands properties. My buyers lost out in one multiple offer situation on a home that would have been perfect – losing to a cash buyer after multiple offers had been received within days of the townhome coming onto market.
So we had to get creative. For us, the key was for me to start querying townhome owners about their willingness to put their homes on the market. Through a contact in our office we finally identified one owner who was willing to sell – a pocket listing, in other words.
But what if that strategy hadn’t worked? We would have had to continue to compete in this market if my buyers were to find a home.
To be competitive in a hot market, you need to know the market, No. 1 – and a Realtor is key to that end. For a full list of 5 tips than lead to a successful offer in a competitive market, Here is a report on the top 5 tips.