Home Buyers

In a market with more homes for sale, buyers have more negotiating power and a greater selection of properties. To leverage this effectively, you must be prepared.

• Understand Your Representation:

Before viewing properties, you must sign a Buyer Brokerage Agreement with a Realtor. This establishes a formal relationship and ensures you understand whether you are a “client,” to whom an agent owes full fiduciary duties, or a “customer,” who receives a lower level of service. Your agreement will also clarify how your agent is compensated.

• Secure Your Financing First:

Get pre-approved by a lender before you start your search. This proves you are a serious buyer and is essential for making a swift, credible offer. Maintain regular contact with your lender to anticipate any needs and ensure a smooth path to closing.

• Develop a Negotiation Strategy:

Before making an offer, discuss your strategy with your agent. Know your budget, your walk-away points, and what concessions you might request. In a market where 61% of Atlanta sellers offer concessions, being prepared gives you a significant advantage.

• Navigate the Appraisal Process:

Your initial offer should always be informed by market data. However, in today’s market, be aware that a property may not appraise for the contract price. It is wise to discuss a plan with your agent for a potential appraisal gap beforehand to avoid stress and complications.

• Adhere to Contract Timelines:

It is critically important to complete your due diligence, including a professional home inspection, within the specific timeframe outlined in your contract. All contractual deadlines are firm and must be followed meticulously to protect your interests and your earnest money deposit.

Home Sellers

With more inventory on the market, standing out is key. A strategic approach is necessary to capture the attention of qualified buyers and secure the best possible price and terms.

• Price in Line with Market Value:

The most effective strategy in a balanced market is accurate pricing from the start. Partner with a Realtor who has deep, specific knowledge of your neighborhood to analyze the latest sales data and position your home competitively.

• Market Aggressively:

With more homes for buyers to choose from, high-quality, aggressive marketing is essential. This includes professional photography, a compelling online presence, and a proactive promotional strategy to ensure your property is seen by the largest possible pool of qualified buyers.

• Define Your Negotiation Strategy: Before you list, decide on your negotiation plan. Discuss with your agent what concessions you might be willing to offer and determine your bottom line. This preparation allows you to respond to offers quickly and strategically.

A Note on Home Sale Contingencies

In today’s more balanced market, we are seeing a return of offers that are contingent on the buyer selling their existing home. This can be a viable path, but it requires careful, realistic planning from both parties. The contract timelines must provide an adequate window for the buyer to sell their home. Sellers, in turn, must weigh the benefits of the offer against the risk that the buyer’s home may take longer to sell. It is crucial for both buyers and sellers to discuss the potential outcomes with their Realtors and clearly define in the contract what happens if the buyer’s home does not sell within the agreed-upon timeframe.

As a real estate professional serving Cherokee County and the North Atlanta area, my goal is to provide strategic guidance in any market. If you would like to schedule a time to discuss your specific interests, please set up a time on my calendar: https://calendar.app.google/GcUoBfW66uoJktm5A

If you are interested in buying or selling outside of Georgia, I can connect you to an excellent agent through my national referral network.

For more market insights and real estate advice, please follow my page: https://www.linkedin.com/showcase/108069375/admin/

Cindy Kelly PhD, MBA, BCC Broker | Realtor

Georgia Broker Lic# 304132

Kelly Consultants LLC

Cindy@kelly-consult.com