CLOSING OUT How are buyers coping with today’s market challenges? Orlando’s 2017 spring/summer homebuying season is marked by super-low inventory conditions DALLAS HUS MASTERS REALTY GROUP INC My advice to buyers is to be patient and try not to become overwhelmed or discouraged. I tell them to look at the MLS daily and to move quickly if they see something they like. I encourage buyers by telling stories of persistence that paid off. I also suggest putting in a strong offer while I work on building a good rapport with the listing agent. JANICE WELCH RE/MAX TOWN CENTRE I recently received two full-price offers on the same property. They were so similar that the sellers chose the offer presented by a REALTOR ® who read and followed directions. She added the proper addendums and everything was filled out correctly. Buyers’ agents who do not read and follow directions are an issue for me. RAFAEL FERREIRA KELLER WILLIAMS ADVANTAGE 2 My buyers who are looking for homes under $350,000 are having a hard time getting a house under contract unless they have a 20 percent down payment. With inventory so tight, buyers are searching a wider area and settling for some things they do not like. Buyers above $500,000 have more choices and can negotiate better terms. GARY BONACCI THE QS GROUP LLC We're advising buyers to move quickly if they like a home. We have them ready before they even see a property by pre-determining the home’s market value. We refine that number during the initial walk-through and then quickly submit offers based on sound business principles. Makes for a seamless experience. NANCY SHEAR WATSON REALTY CORP My agents are fishing upstream for listings. We are mailing, calling, and knocking on doors as we canvas neighborhoods looking for potential sellers who haven’t already contacted an agency. We then write a lean, mean contract with few concessions and with good terms. Our buyer consultations include a detailed explanation of inventory. LYDIA PISANO THE TEAM REAL ESTATE GROUP INC It is very difficult to get a buyer's offer accepted if it's a new listing and they are getting an FHA or VA loan, and it’s even more challenging if the buyers need closing costs. I do a consult prior to showing any homes. I go over the likelihood of losing out to other offers, explain there is no room for negotiating, and give them options for overcoming the challenges. LUIS HERNANDEZ LOVERA REALTY LLC I’m working with a buyer who had three full-price offers rejected. We saw a listing come up late one night and I quickly left the agent a request to show. The very first thing in the morning I called the agent and said I had a wonderful young family who really needed a home ASAP. We were the first and only party to see the home, as the buyers’ full-price offer was accepted. CHRISTINA LAMEIRAO KELLER WILLIAMS CLASSIC REALTY I consult with each client in my office and set the expectations of what they will encounter in this market. First-time homebuyers need to be aware of the challenges that are out there with low inventory and multiple offers. I make sure each buyer has a lender and is ready to make an offer as soon as they find that perfect home. 32 Orlando REALTOR® May / June 2017
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