St. Louis real estate is hot. Inventory remains low, and home values continue to rise. You can still find opportunities to become a home owner if you have the right realtor, though.
An experienced realtor knows the home buying tips that will help you close the deal. You want a professional with expertise in the St. Louis real estate market. They can help you achieve your goals.
Learn more about what to look for in a realtor who can help you buy your next St. Louis home.
Expert in St. Louis and St. Charles Real Estate
A realtor with experience in St. Louis real estate is essential in a hot real estate market. They should know the different neighborhoods in St. Louis and St. Charles. They can help you find the right home.
A realtor who understands the local housing market puts you in a better position. They understand the level of competition you’re facing in a hot real estate market. This helps you prepare realistically to make the best offer.
Your agent will give you a comparative market analysis. They can help interpret the data on home values in the neighborhood so you can choose the best amount to offer.
Respectful of Your Budget and Goals
The right realtor will help you stay focused on your real estate goals.
Getting caught up in the excitement and stress of a bidding war can make you lose sight of your priorities. Low inventory and strong demand mean that competitive offers are often above the asking price. Your realtor will know if you should be looking at homes below your price range to allow room for a bidding war.
You may need to make some compromises to make a home purchase. Your realtor can help you avoid settling for a property that won’t truly make you happy.
Skilled in Negotiations
The right realtor will help you negotiate successfully to make the winning offer. They will represent your interests and advocate for you in the transaction.
Get Mortgage Pre-Approval or Make a Cash Reserve
You’ll need a mortgage pre-approval or the ability to make a cash offer. If you choose to finance, your realtor can recommend a good mortgage broker.
Eliminate Contingencies
To make a competitive purchase, you may need to reduce or eliminate contingencies in the contract. Contingencies let you reject the transaction but keep your earnest money. Sellers prefer a contract without contingencies.
Contingencies protect you as the buyer. However, your realtor can help you find creative ways to avoid major problems while still submitting a streamlined offer.
Double-Check Your Offer for Errors
Your realtor will ensure that your offer is complete. Mistakes like missing disclosures can cause the seller to reject your offer. A buyer’s agent will help you write the best offer and review the paperwork with you.
Consider an Escalation Clause
An escalation clause can make you more competitive in a sellers market. It states that you’ll increase your offer by a certain amount if the seller receives competing bids. It reduces the need for back-and-forth offers and counteroffers.
Your realtor will consult with you to decide if an escalation clause is the best option.
Choose the Right Realtor for St. Louis Real Estate
In this hot St. Louis real estate market, you need a realtor on your side. The right real estate professional will help you become a home owner.
You can trust the Sarah Bernard Realty Team to help you achieve your real estate goals. We’ll work with you to find the right home sale, even in a sellers market. Our realtors are experts in St. Louis and St. Charles real estate.
We truly care about our clients and are committed to helping you find your next home. Contact the Sarah Bernard Realty Team today to schedule a complimentary consultation. We look forward to meeting you!