The Real Estate Market has shifted and we are seeing more properties For Sale, which in turn has brought home prices down. So why do I still get calls from Buyers not able to find the right house at the right price when clearly there are more properties For Sale?
I ask them to tell me what they are looking for in a home and what price they are considering paying and they describe what boils down to being a great home at a fantastic price!
So I explain, “95% of the properties are average properties. 5% represent the GREAT Deals and the EXCEPTIONAL Properties...and those properties get scooped up by Realtors or their family, friends and clients. If you want a great home at a fantastic price then the chances are high that other buyers feel the same way about that home. They too think it’s a great home and a fantastic price. And those great homes at great prices get sold super-fast or get sold even before they go on the MLS. You see, it’s a COMPETITION for the best homes…and it always has been, in any market.”
In an effort to help further, I ask them what are they doing to ‘look for’ or ‘find’ the right home? In other words, what’s their strategy to buy a home? And the common responses are…
- I check for new listings on Realtor.ca and other websites.
- I drive around and visit Open Houses.
- I have several Realtors e-mailing me new listings.
Does that sound familiar? Maybe it’s what you are doing to look for a home?
If this is what you are doing to look for a home then these are the obstacles and challenges you are facing…
- The house you like is sold before you get a chance to see it.
- The house you like is sold and you didn’t even know it was For Sale.
- If you do get a chance to put an offer then you risk overpaying with Multiple offers.
- The Realtor that is sending you listings is basically doing what you can do for yourself, nothing more (so having more Realtors send you listings is definitely not the answer).
This Home Hunting strategy was fine 5 or 10 years ago but it’s not the way to find the right home, in today’s market. You see, you are probably not seeing ALL the available properties For Sale and in many cases, you won’t even have an opportunity to see the house you want, let alone be in a position to buy it.
Great homes at fantastic prices are out there but absolutely your Home Hunting strategy needs to change. You need to take into account that the home you want is also coveted by other buyers, it’s a Competition.
The Solution: Your Home Hunting strategy must tap into The HIDDEN MARKET. Basically, you want to see properties before they come on the market or to see properties that no other Buyer’s are aware are For Sale? The benefit to you is that this gives you a tremendous advantage over your competition (other Buyers) and it’s how we at TeamSessa.ca are successfully helping our Buyer clients buy homes. It's one of the things that separates us from OUR competition.
We’ve changed our Buying Strategy to take full advantage of The Hidden Market and so should you.
Truth be told, it’s not just the public using the wrong Home Hunting strategy but also many Realtors as I hear the same sob stories from them. They complain how they’ve spent many months trying to find ‘the right home’ for a particular client but are unsuccessful. Therefore, it’s more important than ever to align yourself with an Agent experienced in taking advantage of The Hidden Market.
If you're focus is on Buying, understand that the right home is out there but it's a competition and buyers want what you want. In today's market having access to properties before they appear on the MLS and/or buying without competing is crucial. We can do both.
Judge for yourself: I don’t mind taking a few minutes to explain for you in detail how the Hidden Market works. Give me a call or text me at (647) 298-5491 and let’s have a chat. Of course, there is never any obligation or pressure and this would be time well spent.
The home purchase you have been looking for could be one phone call away. Give us a call, (647) 298-5491.
Happy House Hunting,