It’s tough to be a buyer in the Seattle-Eastside real estate market right now! Homebuyers competing at mainstream price points are struggling with the trickle of new listing inventory while also feeling financial pressure from rising interest rates–and reeling from stiff competition from other buyers who are in the same boat. Many sale prices are escalating to truly ridiculous numbers, with buyers also waiving significant rights. Some are even immediately releasing their earnest money deposit to the seller (rather than depositing it into an escrow trust account) as a further incentive.
New data just out shows 65% of all King County home sales involve multiple offers. Interestingly, buyers working with a Windermere broker are 12% more likely to be the selected buyer in multiple offers (determined by the change in buyer market share in multiple offers vs. non-multiple offers). Why is this? Aside from their strong reputation, Windermere brokers also receive extensive training on how to create the most competitive offer and negotiate successfully in a multiple offer situation. This allows them to help position their buyer’s offer to have the greatest appeal to the seller.
An independent survey of NWMLS brokers who closed six or more transactions in the previous year shows that brokers are more confident in completing a transaction with a broker from Windermere than they are with any other real estate company.
Sometimes who you chose to represent you really can make or break your home purchase.
Published March 2018.
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© Copyright 2018. Information and statistics derived from Northwest Multiple Listing Service.