Skip to content
337 Dougall Square, Windsor, ON N9G 1S7519.800.7600info@sellwindsor.caCall/Email Anytime!
FacebookLinkedinInstagramYouTube
Cris Kambouris Real Estate Team | Sales Representatives | Windsor
Cris Kambouris Real Estate Team | Sales Representatives | Windsor
Keller Williams Lifestyles Realty, Brokerage

Call Office: 519.800.7600 | Email Direct: info@sellwindsor.ca
  • Home
  • About Cris
    • About Me
    • Testimonials
  • Buyers/Sellers
    • VIP Buyers Club
    • Sellers Home Value Report
  • Search ALL MLS® Listings
    • Search ALL MLS® Listings
    • Listings For Lease
  • Articles
  • Windsor-Essex
  • Resources
    • Mortgage Calculator
    • Land Transfer Tax Calculator
  • Contact
    • Listing Sitemap
    • Legal Disclaimers | Privacy
  • Home
  • About Cris
    • About Me
    • Testimonials
  • Buyers/Sellers
    • VIP Buyers Club
    • Sellers Home Value Report
  • Search ALL MLS® Listings
    • Search ALL MLS® Listings
    • Listings For Lease
  • Articles
  • Windsor-Essex
  • Resources
    • Mortgage Calculator
    • Land Transfer Tax Calculator
  • Contact
    • Listing Sitemap
    • Legal Disclaimers | Privacy

Our Practical Guide to Negotiating in a Seller's Market

If you’re a home buyer, the process of negotiation in a seller’s market can be quite tricky. Most people generally have little interest in the real estate market unless they plan on purchasing a new home. It’s easy to get caught off guard as to what the market entails and how you should go about making deals. You may also be a little clueless about how the market moves from one season to another, more so from month to month. Because of this, it can be rather tricky for you to get the first home you want to purchase.

For this reason, trusting your real estate agent in their advice on the market conditions is paramount. Know that a seller’s market is different from a buyer’s market from a real estate standpoint. When the market changes into a seller’s market, a buyer’s home buying plans and tactics need to adapt to the change as well. Your agent’s guide on this then becomes imperative.

That said, here’s a practical guide on how to negotiate in a seller’s market.

 

1. Preparation of a home buying offer!

 

In a seller’s market, time is of the essence. As there are multiple offers in a seller’s market, you should take the first step to be prepared. Here are a few practical tips to consider when preparing:

  • Be wary of pricing: While the price isn’t always the most vital factor, make sure not to offer less than the listed price. The rule of thumb is to offer more than the amount the seller’s asking.
  • Entice through money deposit: The best way to attract the seller is to offer a larger earnest deposit. You may want to consider doubling or tripling that amount—of course, with your agent’s advice.
  • Never request favours from the seller: Know that the negotiation part isn’t the best time to ask the seller for any favours. Discuss such matters in the latter part of the selling process instead.
  • Give the seller extra days: Make sure to give the seller a few days to move at closing. Most sellers look more kindly upon an offer that allows them to move at their own pace.
  • Submit preapproval and documentation: Submission of preapproval and funds documentation is imperative. If your preapproval letter results from a broker or lender, make sure to obtain a local preapproval letter.

2. Getting in touch with the listing agent for tips

 

It’s worth knowing that listing agents are often busy. This is why seeking the help of your agent is imperative. Your agent can prepare the offer correctly to save the listing agent some time.

In a situation where there are two offers, it is far better for your agent to revise the offer than for the listing agent to prepare a counteroffer. That said, your offer needs to match the seller’s expectations so that you will be able to agree on a deal.

 

3. Prompt action on the seller’s market showing

 

When navigating in the seller’s market, prompt action is paramount. Do not wait until the weekend to view a home because the home may have been sold right away before that. That said, make sure to be there in the first showing. It’s also best to come up with a good and clean offer as soon as possible. By doing so, you’ll have a better chance of getting the offer as compared to those who are unprepared.

As the seller’s market can be a little challenging, there are ways and means on how you can cope as a buyer—through the help of your real estate agent. Take the steps mentioned above to make a difference in getting your first home.

If you are looking for a professional real estate agent in Windsor to help you negotiate in the sellar’s market, get in touch with us today! We’re happy to help.

Category: UncategorizedBy Cris KambourisFebruary 19, 2020
Share this post

Author: Cris Kambouris

Cris Kambouris of Keller Williams Lifestyles Realty. Office: 519.566.7788 If you are interested in buying or selling a home In Windsor, Essex, Lakeshore, LaSalle, Tecumseh, Kingsville, South Windsor, etc. I’m here to help!.

Post navigation

PreviousPrevious post:Our Guide to Selling Your Home for a Higher Value – 5 Tips You Need to KnowNextNext post:Why Experience is so Crucial to the Success of a Real Estate Agent in South Windsor

Related Posts

3 Tips to Help You Switch Agents Easily
3 Tips to Help You Switch Agents Easily
September 17, 2019
Home Selling Tips - De-cluttering Steps You Must Not Skip!
Home Selling Tips – Decluttering Steps You Must Not Skip!
September 17, 2019
15 Places to Hide Christmas Gifts If you Have Sneaky Kids or Spouse!
15 Places to Hide Christmas Gifts If you Have Sneaky Kids or Spouse!
November 23, 2018
Alternative and Renewable Energy Sources Available in Canada
Alternative and Renewable Energy Sources Available in Canada
November 23, 2018
  • Ask The Expert(4)
  • Buyers(10)
  • Community(18)
  • Home Improvement(7)
  • Information(3)
  • Sellers(21)
  • The Real Estate Process(2)
  • Tips(2)
  • Uncategorized(5)
  • Working With A REALTOR®(2)
Search Properties
Location/Address
For Sale/Lease
Property Type
Ownership Type
Building Type
Listing ID
Min Price
Max Price
Bedrooms
Bathrooms
Waterfront
Open House
Contact Cris!
SidebarNew Mobile: 519.995.7600
Office: 519.800.7600
info@sellwindsor.ca

captcha

Cris Kambouris Real Estate Team | Sales Representatives | Windsor
Keller Williams Lifestyles Realty, Brokerage
337 Dougall Square, Windsor, ON N9G 1S7
Ph: 519.800.7600 | Email: info@sellwindsor.ca
DDF® Integration By EZmedia.ca
  • Home
  • About Cris
    • About Me
    • Testimonials
  • Buyers/Sellers
    • VIP Buyers Club
    • Sellers Home Value Report
  • Search ALL MLS® Listings
    • Search ALL MLS® Listings
    • Listings For Lease
  • Articles
  • Windsor-Essex
  • Resources
    • Mortgage Calculator
    • Land Transfer Tax Calculator
  • Contact
    • Listing Sitemap
    • Legal Disclaimers | Privacy
Menu
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned and administered by CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA’s Data Distribution Facility (DDF®)