Getting pre-approval is a must
In this environment, there’s no other way to do it: you need to secure a mortgage pre-approval. First Bank Mortgage reported doing this will put you ahead of other buyers — especially when it’s likely that more than one will want the same house as you. If you have pre-approval, it’s more likely that the seller will choose you.
Enlist an experienced agent
Having an agent with years of knowledge under their belt will be favorable in a seller’s market. The Balance noted that experienced agents have a rapport with other agents, which can speed up the selling process. Also, they can effectively pinpoint or predict trends. Plus, they’re familiar with the delicate dance of negotiating a price — that will come in handy in a seller’s market.
Do everything you can to impress sellers
To leave your mark on sellers, HousingWire suggests pulling out all the stops. That includes an offer letter and personally appealing to sellers — maybe put a photo in there, too.
“In a strong market a buyer needs to consider waiving the financing contingency, limiting inspection to three to five days, and placing larger earnest money deposits to provide non-price consideration,” Bruce Ailion, a metro Atlanta real estate agent with more than 30 years of experience, told MortgageLoan.com.