How Arizona Buyers Can Compete in a Seller’s Market? An area in which commercial dealings are conducted can be defined as a market, it can also be defined as an area in which buyers and sellers meet to exchange products and services and other relevant commodities. With an idea of what a marketplace is, it would be necessary for me to give a constructive, and simplified definition of the two subject matters we will look particularly into (Buyers and Sellers).
Therefore, we ask, who is a buyer? In simple terms, a buyer is anyone who purchases an item, commodity, or service for personal use or to resale, while a seller is a person who trades goods and services for monetary value, a seller can also be a product or merchandise that sells in a particular way (in this context we are concerned about the “who” and not the “what”).
To everything or most things in life, there are stipulated ways or procedures to go about it and the topic at hand is no different. For better assimilation, I would use real estate as a case study to explain what procedures are important for a buyer to compete in a seller’s market. Supposing the object or product of interest to the buyer is a certain house in a desirable location, one thing the buyer must always have at the back of his or her mind is that he or she is competing against several others, with this in mind, the buyer should be able to offer a better price than his competitors, this can be achieved by not going lower than the asking price but pitching higher or maintaining the same level with the seller’s price, which will give the buyer an edge over other competitors.
Another way to compete in a seller’s market is by depositing money, this does not mean depositing any amount, to do this effectively, asking your agent for advice is essential, after which the buyer doubles or triple whatever the agent might have suggested, this will prove how important the merchandise is to you, keep you in the seller’s good book and give you leverage over other competitors. What’s the panic in depositing the vast amount since you will still pay the same at the closing stage?.
However, strongly desist from asking favors from the seller, because this might put you (the buyer) on the pedestal as an opportunist, like asking to be given certain items you find admirable like home appliances, with a house sale.
Whereas a little kindness hurts no one, so extending the time for the seller to part with the merchandise can be the icing on the cake for you.
Certainly last but not the least, handing in your preapproval letter and proof of fund documentation, goes a long way to prove to the buyer that you put your money where your mouth is, and that you are not just goofing around or a time-waster, but that you cut to the chase and you are ready for business.
PMD Realty Group has been providing professional home buyer and seller real estate representation since 2013. Our company values are service, honesty, integrity and work ethic. We always strive to exceed our client’s expectations. give us a call at 602.399.9233 if we can be of service in Goodyear, Litchfield Park, Buckeye, Avondale, Sun City, Surprise, Peoria and Glendale in the Phoenix West Valley.
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