Tips for the Competitive Richmond Market

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As a home buyer in the competitive Richmond housing market, there a few things you can do to increase your likelihood of getting your offer accepted. You need a strong offer to compete in multiple offer situations.

First off, work with a Realtor. They understand the market, especially specific neighborhoods you’re interested in. They’re also tied to an official Code of Ethics. If you view a new construction home, you’ll encounter a site agent that’s an employee for that builder. They’re not bound by ethical standards to treat you honestly and fairly.

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Familiarize yourself with different areas by driving around to see what’s best for you and your family.

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Secondly, interview a couple different agents. Ask questions about their status as a full-time or part-time agent, their sales track record, how long they’ve been in business, and their availability on short notice. It’s not ideal to use your neighbor, friend, or relative that recently got licensed. Learning takes time and you want top talent.

Thirdly, get pre-approved. Know what you can afford and what your future payments will be. If you see that perfect home, you want to be able to put an offer in quickly.

Next, familiarize yourself with different areas by driving around to see what’s best for you and your family. Consult your Realtor. They can give guidance that helps save you some time, energy, and money.

When competing against multiple offers, my buyers always write personal letters to the seller. Most of the time, our buyers with lower offers get accepted because of this personalized touch.This note explains how much they love the home. Sometimes, buyers will even include a family photo.

If you have questions about buying or selling a home, or you have topic suggestions for future videos, please feel free to reach out to me.