Beating Investors To The Punch
Rick Rapp | Fri October 19th, 2012
Beating Investors to the Punch
Many buyers in this market are running into the same wall, the cash investor. While investors are a crucial part of our Real Estate market, they can be a bit of a pain for buyers in the $100k - $300k range. With the ability to act swiftly and wads of Benjamin’s at their disposal, how can a regular buyer compete?
Run Forrest Run…
You have to be fast to beat an investor to the finish line, so even if you think you can’t... run Forrest run! If you know what you are looking for, with the speed of this Internet run world there is no reason you can’t come out on top. Once a property hits the market that is within your criteria, view it. If you can’t view it have your agent view it for you and text, email or even facetime you! That thing in your pocket that rings can do some really nifty things, use them! The goal here is to get to it first, no matter what; early bird gets the what?
But the cure for most obstacles is, Be decisive.
What separates investors from “standard” buyers is their ability to decide, on the spot at times, whether to purchase or not. They have a black belt in decisiveness. If you plan to beat them to the punch, you MUST be ready to make a decision right then and there. Do your research ahead of time; answer your questions prior to walking in the front door. You should be at the house for a yes or no – not a checklist of questions that need to be answered before you decide. If you want to be really quick, go equipped with an iPad and submit the offer while you are there. Take THAT investor!
Put your comb over away – You’re not Donald Trump
This is not the time to play hardball, puff your chest and offer 50% of list. You may have seen some great late night infomercials, but properties today are selling much closer to list price then you may think. We all want a great deal, but you need to be realistic with yourself and the nature of the market. There are definitely times to strike, but be honest with yourself whether this is the time or not. Trying to “steal” the home can and may cost more in the end. While slow, prices are definitely rising – think smart and act accordingly.
Don’t let the investors out there get you down. Most are going to upgrade the home and put better inventory on the market or will offer housing for great people in our community. You may not think it’s a fair fight out there, but you can certainly make it one. Put your ole’ ducks in a row, get out there and make it happen!
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