There have been several tough markets over the years for buyers. It is not unusual to see multiple offers, lack of inventory, selling prices way above the asking price ... I have seen this movie many times before.
But what my buyer clients experienced in November & December of 2020 (and this trend continues well into January of 2021) has surpassed what I have seen in the past when representing purchasers in the Greater Toronto area (even in 2017, in my opinion).
My clients, who are a lovely couple, demonstrated patience and perseverance and carried on in their mission to purchase their first home.
After seeing over 90 properties in less than 2 months, and submitting several offers in multiple bid situations, they have purchased. They were the lucky ones.
The clients bought their new home and did not settle for anything less than what they felt was of value to them. They kept trying their chances at different properties and kept saying that even in these difficult times it wasn't always about the price, but rather about the value they were getting in the house, for the price they were offering for it. In the end they found value in a cute and fully renovated place and are excited about it awaiting the closing.
When dealing with challenging markets, like a strong seller's market it is so important to align yourself with a realtor that can prepare you, educate you, guide you and help you make sense of what often makes no sense in the Seller's market, when you are a buyer.
In my opinion these are the top 3 qualities of a realtor, who can help you reach your Real Estate goals:
Experience - to know how to navigate through different situations, markets, negotiating strategie
Response - always being kept informed about the state of your current real estate transaction and having access to your realtor when you have questions
Hustle - getting things done when they need to be done, no procrastination, no excuses
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