Heated Competition in a Sellers’ Market

Real Estate

It is competitive times if you are trying to buy a home today.
Not only can Buyers no longer be choosy about their preferred location, terms and offer price…
they actually have to compete for the Seller’s attention!

How does a Buyer compete for the Seller’s attention you might ask? Consider these tips from our top Agents!

Many Buyers include a letter to the Seller with their submitted offer. We call this a PICK ME LETTER.
In it our clients explain who they are and why they love your home. This letter often includes pictures of the Buyer’s family – fido and all!

While letters are lovely, savvy Agents know that in order to truly foster successful negotiations it is important to know your audience. This is why we endeavour to find out what is preferred or important to the Seller.
Has the Seller already bought another home and needs a specific closing date?
Would they prefer the Buyer not displace the current lower suite Tenants?
Knowing the Sellers’ needs and wants, as well as determining if it is something that the Buyer can give, is a great place to start.

Some of our Buyer clients try to stand out of the crowd by providing Seller’s with certainty by submitting an unconditional offer. Most offers from Buyer’s have conditions or contingencies such as:
I will buy your home IF I get a Mortgage;
I will buy your home IF It approves a Home Inspection.
It is quite common to see offers from Buyer with 6-9 conditions as this is the time for the potential Buyer to do their due diligence.

Today’s Buyer however, is so desperate to stand out that they are willing to submit UNCONDITIONAL OFFERS to the Seller in order to get the Seller’s attention by providing certainty for the Seller.
What the Buyer is saying is don’t worry about anything…
I am good to go!

But unfortunately, THERE ARE THINGS TO WORRY ABOUT.

You won the bid but the house does not appraise out for what you paid and the bank wants you to make up the $75K?
You bought in March but are closing in June and a fire breaks out in our community and you are unable to secure fire insurance as it is insecurable more than 30 days in advance. Your lender or CMHC does not finance/insure in this condominium project or development and you did not know this and now cannot port your existing mortgage.

Our Agents help Buyers determine their risk tolerance and then strategize with our clients on ways that we can help them minimize it.

Other Buyers resort to getting the Sellers attention with the offer price alone.
The thinking is….money talks!
And it seems to be working as evidenced by the increase in the average sale price of homes.
This is when the right advice is crucial, so lean into your Agent about changing values.

Lastly, don’t get discouraged!
You have to be realistic and a little philosophical about it.
It might take several offers before you are able to secure a home. It is frustrating but to be expected and manageable.
It is important to manage your expectations and to not be devastated if you make an offer and are unsuccessful.

Remember, you cannot get asked to dance if you are not at the party!
So don’t give up!
Get back out there!

Choose wisely. Choose RE/MAX.

Deborah Moore
Broker Owner
Mother of Dragons

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We were connected with Re/Max Penticton Realty through friends of ours and were not disappointed. We decided to make the move to Penticton last winter and were in contact with our agent, Phil, immediately. He and his team were very helpful every step of the way. Would highly recommend Re/Max Penticton Realty to anyone!!
Eric M.
Eric M.
Larry V.
Larry V.
Christine R.
Christine R.
Shae B
Shae B
V T.
V T.
Very happy with our house purchase! We used Phil Fox as our realtor and he helped us find a good quality home, in an excellent location, under a short timeline, during a crazy time in the real estate market. Would recommend to anyone looking for a responsive and caring realtor.
Jennifer H.
Jennifer H.
Always above and beyond and always such a pleasure to work with. Highly recommend.
Shannon E.
Shannon E.
Kelsey C
Kelsey C
T R.
T R.
We are from out of the area so I relied upon a trusted realtor to help me choose a realtor in the Penticton area, for the sale of a home on behalf of a family estate. We have put Karrie and Paul Grewal through every challenge imaginable, and each and every time, I come away stunned by their knowledge, their resourcefulness, their willingness to help in ways that are so beyond the call, and equally their patience and good cheer with my endless requests. To say they're accommodating is a gross understatement. Do yourself a favor - list with Karrie and Paul Grewal. You will be so glad you did!
Rick R.
Rick R.
I was very pleased by the expertise provided by Steve Thompson and his team in the sale of my property--thanks!
John S.
John S.
I had a great experience working with Lana. Very professional and helpful. I felt that she had my best interest in mind so I trusted her completely through the process of buying a house.
manatala123
manatala123
Agent was extremely helpful through the whole process
Darren C.
Darren C.
John and Natasha, I am so grateful to you both. John you went above and beyond again. You made it happen. Your wisdom in decision making and deep insight into the market and procurement to ensure your clients goals are true talents. One can tell you’ve been practicing for a long time and always learning. Paralleling those skills with your transparent and caring nature and work ethic makes you’re team special. I am so pleased with another experience in excellent and effortless management of this process. Thank you team Green!
Kevin D.
Kevin D.
Well first we started with Eileen who gave us a real good overview of the different cities in the South Okanogan. Then, to look in Penticton, we dealt with Karrie Grewal. Very pleasant and informative, she told us about all the 55 plus places in Penticton and their characteristics' - this was very helpful in our search.She narrowed it down so that we only got listings we were interested in. Karrie and her husband showed us a couple of places. Even though they were very busy they met our restrictive timelines. She helped us with an offer on one place which got too competitive. Then on the way home we got a listing we liked and so her and her husband did a 'facetime' tour of the location. She helped us put in a great offer that saved us money and we got the place.On possession day she met us there but the keys wouldn't work because someone locked the screen door so she called around and resolved the issue within an hour.Later we got a beautiful basket of wine and goodies. Thank you team, especially you Karrie.
Clarence M.
Clarence M.
We had an excellent experience , being out of province, buying a home through Lana Pontello. She made our move go so smoothly and helped us with so many recommendations.
marie k
marie k
We found Rhonda Van Der Veer and she was super responsive and helpful in giving us information about the Penticton area. We were able to find a condo and close with relative ease. If you are looking for a realtor I would highly recommend Rhonda.
Janice H.
Janice H.
Diane Fox was outstanding, as usual. She has been our realtor for buying and selling two homes over the last two years.Very caring and intelligent. Is always responsive to any of our concerns and questions.
Cats K.
Cats K.
We have enjoyed the professional real estate services of Ernie Sheridan at Re/Max Penticton for not one but two homes in the past. Ernie and staff are just wonderful to work with...always concerned that our wishes and needs in both buying and selling were met and ensuring that we were always kept up to date on details. Because Penticton has been Ernie's home for many years, he has all the knowledge and experience that you need to move within the Okanagan Valley.
Lee S.
Lee S.
Re/Max Penticton Realty and specifically Team Green (John & Natasha) are leaders in their field. We have bought and sold with them on more than one occasion and will continue to work together on future real estate ventures in both residential and commercial. Fun, reliable, honest and real. These guys earn there income and make your experience a good value and positive one! 5+ stars. Thanks!
Chad H.
Chad H.
Pat C.
Pat C.
Great customer service. Very knowledgable about the area.
Bryce T.
Bryce T.
My wife and I had the awesome experience of working with Bruce Dilley and his knowledge of the market and previous experience as a contractor really allowed us to have peace of mind as we made our purchase and move during these uncertain times. Highly highly recommend Bruce and the entire team at RE/MAX Penticton!
Trevor S.
Trevor S.
Ben I.
Ben I.
What a great welcome to Penticton!! Karrie and Paul went out of their way to show us all the different areas of Penticton before we made our decision where to live. Even though the Covid 19 pandemic made it more difficult, Karrie was always able to make timely appointments for viewings whilst taking care to uphold all the required health restrictions for both seller and buyer (providing us with sanitizers, masks, and bootees). Karrie also had an uncanny ability to recognize what I liked and didn't like about about a place. She and Paul were always available, no matter how often we had questions or concerns, always professional, and always friendly.
Fiona C.
Fiona C.
Karrie & Paul really took the time to learn exactly what we were looking for in finding us our beautiful new home in Penticton! Their extremely professional manner ,and patience made the whole experience very enjoyable. I would highly recommend them .They are by far the best team in town. Thanks Peter
Peter C.
Peter C.
Awesome Team
Todd S.
Todd S.
Went up for the weekend met Karrie from the Crush team, she was so helpful and knowledgeable about her town, and the Okanagan, anyone will be in great hands
Veronica L.
Veronica L.
Karrie and her Team at Crush are incredible. The team worked tirelessly to sell my place with great success. They If you need to buy or sell contact this team- you will not be disappointed!
Erin L.
Erin L.
Karrie, Paul and Angela are all amazing! They work hard and tirelessly for their clients and at the same time provide such a positive, fun and enthusiastic experience for their clients. They are realistic and honest and I would recommend them to anyone requiring a realtor in a heartbeat.
Jody M.
Jody M.
Harald R.
Harald R.
Keith K.
Keith K.
The best real estate service in Penticton
LJ H.
LJ H.
Jody B.
Jody B.
Experienced knowlegable agents.
Sandra K.
Sandra K.
I have had the pleasure of knowing Karrie Grewal for several years.I remember her drive and enthusiasm when she first started.Karrie has successfully sold a few houses and found some new homes for friends of mine.Her work ethic, honesty , and down to earth personality make her approachable and easy to to work with.I would absolutley recommend Karrie and her team.
Kathy R.
Kathy R.
The only game in town as far as I'm concerned
Terry V.
Terry V.
karrie G.
karrie G.