5 Agents Share Tips for Finding Success in a Seller's Market

With low inventory across the country, real estate agents face an uphill battle when trying to win deals for their buyers.

That's why we asked several agents to share how they're successfully helping their buyers stand out in tight negotiations and navigate this highly competitive market.

Be flexible with sellers and think creatively

Matthew Koch, Realty ONE Group Unlimited (Bright MLS), Lancaster, PA

"I think in today's market, buyer's agents need to think creatively and try to build a rapport with the selling side. Having an A+ reputation in the industry is a great first start, as is offering the seller what some buyers can't — time and flexibility. A lot of sellers want to sell, but they also are buying. Allowing flexibility with the seller can ease a lot of the apprehension they have when they are thinking about selling. We all know it's a seller's market, but sellers have to buy too, right?

There are a few things buyers can do to make their offer stronger: offering to pay the seller's transfer tax, bringing additional cash to the table to help offset an appraisal issue, and even covering some of the seller expenses like an HOA resale certification fee, just to name a few. Knowing your marketplace and being available for your clients can go a long way in today's market!"

No matter how busy you are, follow up quickly

Emily Sinclair, ACME Real Estate (TheMLS), Los Angeles, CA

"My tip would be to simply follow up, follow up, follow up. We all are busy these days, but I find that simply following up with people and getting their questions/concerns answered in a more-than-timely manner sets me apart from the rest. My clients know that I make them a priority, and it shows with how I prioritize their needs and concerns.

No one likes someone with empty promises or who doesn't deliver what they say they will, and thus this little thing I have learned sets me apart from the rest. My clients know I follow up, and therefore they can depend on me to deliver in this crazy aggressive market."

Be nimble and adjust your approach to fit the current moment

Harrison Beacher, Keller Williams Capital Properties (Bright MLS), Washington, DC

"The biggest thing we're doing is communicating the realities of the market, and focusing our outward-facing marketing on some of the details of what selling your home in this market looks like and trying to share some of the most up-to-date data on what's happening right now because of how fast the market is moving.

Like last week, I released one of the videos we recorded that explains how open houses work and how we're doing them safely in COVID. I had another one a few weeks back that talked about getting your home photo-ready so that it looks good online, and helps convince the buyers who are browsing to want to come see it in person and schedule a tour. We are also adding in for the next couple months a postcard/door-to-door flyer campaign for the homes around any home that our buyer clients compete for and lose."

Make sure you and your clients are prepared to move quickly

Giusseppe Battista, RE/MAX Destiny (MRED), Elk Grove Village, IL

"Prep your buyers about the fast-paced market. Make sure they are ready to view the home as soon as it's available. Try to be the first showing and try to be the first offer in. I have started bringing my laptop with me so the offer can be written up immediately. I always message the listing agent (through the Homesnap app of course) during the showing to begin immediate conversation and get a better understanding of the home or seller's needs/terms.

As a listing agent, in the Agent Remarks, set the expectation of how offers will be reviewed and when — it will help prevent the flood of calls and questions."

It's simple: Be consistent

Matt Cheney, Washington Fine Properties, LLC (Bright MLS), Washington DC

"The key to success as a great real estate agent is like any business: It's consistency. You need to consistently make your calls, create great marketing, evolve, and most importantly, serve the customer."

To view the original article, visit the Homesnap blog.