The real estate market is heating up as we enter 2025 and more buyers are jumping into the market. This increased competition means buyers need to be strategic to stand out. Here are a few ways to make your offer stand out and secure your dream home.
1. Get Fully Underwritten Pre-Approval: it’s no longer enough to be merely pre-qualified for a loan. Sellers want to see that you’re not only serious but also capable of closing the deal. A fully underwritten pre-approval involves a thorough review of your finances by a lender. This extra step signals to sellers that your financing is rock-solid and minimizes the risk of delays. Being fully underwritten also allows you to act faster, as much of the lender’s work is already done. In a market where homes are selling quickly, this can give you a significant edge.
2. Sell Your Home First, If Applicable: if you’re selling your current home to buy a new one, it’s wise to sell your home first. Contingent offers—those dependent on selling your home—are less attractive to sellers in competitive markets. By selling your home first, you can position yourself as a non-contingent buyer, making your offer stronger. While selling first may feel risky, you can reduce uncertainty by negotiating a rent-back agreement with the buyer of your current home. This allows you to stay in your home temporarily while you finalize your new purchase.
3. Know the Market and Be Ready to Move Quickly: familiarize yourself with the neighborhoods you’re interested in, so you can spot a good deal when it arises. In a competitive market, hesitation can cost you. Once you find a home you love, be prepared to make an offer immediately.
4. Offer Strategically: price isn’t the only factor sellers consider. While a strong offer is essential, other terms can make your bid more attractive. For example, if the seller needs extra time to move, offering a flexible closing date can sweeten the deal.
5. Stay Flexible and Keep Emotions in Check: in a tight market, bidding wars can be emotional. Stay focused on your goals and your budget, and be willing to walk away if necessary. Flexibility in what you’re looking for—whether it’s location, size, or amenities—can also increase your chances of success.
Industry experts believe competition among buyers is likely to remain fierce. By being prepared, acting decisively, and leveraging the expertise of a great real estate team, you can position yourself to beat out other buyers and secure the home you’ve been dreaming of. Ready to start your home-buying journey? Contact us today to discuss how we can craft a winning strategy tailored to your goals.