Buying a House: Working With a Real Estate Agent to Make an Offer

When making an offer, a real estate agent brings some pretty powerful assets to the table: market knowledge, objectivity and (hopefully) some well-honed negotiating skills. Buying a house is emotional, and your agent can help level the field by bringing a more rational approach to the transaction. Here’s how the two of you can work together to get the best possible deal.

Don’t ignore the market

When it comes to making an offer, it’s more important than ever to consider a home’s value — which might not be the same as its listing price. Carefully study the comparative market analysis provided by your real estate agent. When researching the home and neighborhood’s value online, compare the estimates provided by Zillow, Trulia and Redfin, which can range widely.

Your agent will help you interpret the data and establish a fair offer price.

Work with a Real Estate Agent to Make an Offer

Staying sane in a seller’s market

If you’re buying a house in a hot market, it’s easy to get caught up in auction fever. Your agent can help keep you focused only on what you can control. If a number of buyers are interested in the same home, make your first bid your best offer.

If you’re really motivated to buy a particular property, consider putting together two or more offers in advance. That way, if there are no competing offers, your agent can submit the lowest. The higher offers can be the go-to bids if there’s a crowded field.

Find out why the seller is moving

The seller usually wants to sell as much as, if not more than, you want to buy. He has just one house to sell; you have a market full of opportunities. Of course, this is less of a factor in a strong seller’s market where inventory is low. But if the seller has already signed a contract on his next home, or if there’s a divorce in the mix or a job relocation timetable in play, that’s all good information to have. Have your real estate agent do as much recon as possible.

Keep the contingencies in check

In competitive real estate markets, contingencies can be deal killers. When it comes to conditions, get creative. Forget the little stuff and concentrate on major issues that must be addressed — and offer alternatives.

For example, if an inspection reveals necessary repairs, ask for a credit adjustment to be applied at closing, rather than putting the onus of contracting and completing the repair work on the owner. Anything you can do to ease the sales process and shorten the time to loan closing may work in your favor.

Make sure your agent is a strong advocate

Ideally, your buyer’s agent is both a master negotiator and your biggest advocate. For sellers, it’s not always just about the money. If your agent is singing your praises (you’re preapproved, love the neighborhood, offering a bigger down payment), you might score the edge in what would have been a tie. Personalities play a part in any human interaction.

How a seller is treated — and how a buyer is represented — can often make or break a real estate deal. Make sure your agent is at least pretending to be your biggest fan.

If it’s a no, move on

Having a deal go south on you is going to hurt. You can wallow in your disappointment for as long as you want, or for about an hour — whichever comes first. Think of it this way: You’re not starting over; you’ve already eliminated a lot of the variables. You know how this whole thing works now. It’s just a matter of finding the right house.

But first, if you lost in a multiple-offer situation, see if your agent can get your bid in a backup position. Deals fall through, and if the accepted offer does crater — because of a loan snag, a broken contingency, whatever — you might be in a prime position to rescue a sale.

In the meantime, in addition to revisiting your house runners-up, consider asking your real estate agent to gather up some older or expired listings. Many buyers neglect this segment of the market. If a house has been on the market for a while without selling, you’ve got some leverage, perhaps even a motivated seller.Find the Best Real Estate Agent

Getting the deal done

Congratulations! You finally have a signed contract in hand and can almost smell the green grass (desert blooms, pine-covered mountains, salty sea air — fumes of rush-hour traffic?) of your new neighborhood. You’re like a long-distance runner stretching for the finish-line tape. It’s time to move from deal making to loan closing.

Hal Bundrick is a staff writer at NerdWallet, a personal finance website. Email: hal@nerdwallet.com. Twitter: @halmbundrick

This article originally appeared on NerdWallet.


Buying a Home in The Winter

Roof with brick fence covered in snowflakes

Ready to get a jump on the spring market? Look for your new home now during the winter months. Buying a home when the snow is falling can be beneficial to you as a buyer. It can even potentially save you some money. Here are 4 reasons to buy a home in the winter.

There are plenty of homes on the market in winter.

We’ve said it before: with technology, there is no off-season for real estate. In fact, “almost a million homes were sold in the US last winter (973,000 from Dec 2018-February 2019).” So there will be plenty of great homes available to buyers during the winter months.

While the quantity may be lower than the spring/summer market, you will still have great options available to you.

You’ll have fewer offers to compete with.

Winter weather keeps some buyers away from the market until the snow and ice has melted. This means there will be lower demand and fewer buyers to make offers.

We aren’t saying you’ll be the only person to place an offer on a home, but you may find yourself in a smaller pool of offers. This can work to your advantage and keep you from engaging in a costly bidding war.

You’ll see how the home holds up in bad weather.

It is easier to inspect the exterior of a home in the spring or summer. But winter will show how well the home performs in snow, sleet, ice, and cold. You’ll be able to see leaks, discover how the insulation performs, and find any heating problems.

Motivated sellers could help save you money.

Many homes listed in the winter because of a major life change. And while this doesn’t mean you’ll get a home for a severe discount, it may save you a few dollars. According to Trulia, buyers saved, “an average [discount] of 6.1% on home prices, the highest discount through the year.”


While it may be a cold outside, the real estate market is still hot! If you’re ready to start looking for your home now, check out homes for sale page to see all of the great homes available now.


5 Questions to Ask At Your Next Open House

Red white and blue Open House Flag

Are you ready to attend an open house? Here are a few questions you should be asking the listing agent while you’re at an open house:

  1. How long has this house been on the market? It’s always good to know if a home is new to the market or has been sitting for a while. It can help inform your agent for negotiations.
  2. Why are the sellers moving? This can offer some insight into the home. Knowing why someone is choosing to sell could be helpful for both you and your agent.
  3. What (if any) updates have been made to the home? This can be important for you as the home buyer to inspect the work. They should be able to provide any permits for those updates (if required).
  4. What is the neighborhood like? The listing agent should be able to give you an overview of the neighborhood and what it’s like.
  5. Are there any offers on the home? If there are offers already in on the home, you’ll have to decide (and quick) if this is a home you’re interested in.

Asking a few questions can give you useful information to determine if a home is right for you.

Interested in checking out some homes in the evening? Don’t miss our Twilight Open House Tours happening Wednesdays this summer. Our next Twilight Open House event is happening Wednesday, June 19 from 5-7PM. Check out all the open houses here: Twilight Open House Tours.