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Bye Bye, Buyer’s Market: Tips for Working with Clients Who Can’t Land a Home

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By Zoe Eisenberg

Don’t Bother Low-Balling
The seller won’t take your client seriously, especially if they are getting a flood of offers from other interested buyers.

Encourage Compromise
If your buyer is repeatedly having their offer rejected, or just can’t settle on a home they want, their expectations may be too high. While no one should buy a home they don’t love, it may be your job as the agent to have them reevaluate wants and needs, and get their expectations in check.

Can They Go Cash?
Making an offer in cash is the top way to get your offer accepted, and increasing in popularity. A staggering third of all homes purchased in Los Angeles during the first quarter of 2013 went for all cash, compared with just 7 percent in 2007. While it’s typically investors who can pull off a cash deal—not your average buyer struggling to find a home—it’s always an option to run by your buyer.

Can They Offer above the Asking Price??
Perhaps your buyer can’t afford to go cash, but they may be able to submit an offer above the asking price, which can help them win a bidding war should one occur. This can also help put them on the same level as competing buyers who are ready to offer cash, but not cash above the listing price.

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