Vancouver and the Greater Vancouver area has experienced an active real estate market. Housing prices have surged, especially for townhouses, duplexes and family detached homes. Basically any property type with a private entrance, likely due to these times of Covid. If you’re on the buying side, looking to purchase a home, it’s likely you’re going to deal with competition. Jacky talks about multiple offer situations when buying real estate, sometimes called ‘Bidding Wars’.
As a long-time REALTOR® helping clients buy real estate, Jacky discusses the challenge of multiple offers. Something he highlights is the fact many buyers will experience the multiple offer situation. It seems to be the norm in Vancouver real estate. Jacky offers advice about dealing with bidding wars and creating the right mindset. Accepting the fact you will likely experience competition when buying a home can reduce your stress. If you lose, take a day to regain your composure and continue your home buying search. The underlining point is you will win eventually.
Buying a home in Vancouver has its challenges. Finding yourself in a bidding wars adds to the complexity of the purchase. Having an experienced real estate agent at your side can be a huge benefit. Jacky has been helping homebuyers for close to two decades and knows how to improve your chances of winning. It’s not always a linear process, there is so much involved in presenting clients in their best light. Jacky explains it’s not always the highest price to win a multiple offer scenario. Of course price is very important, but it’s also the terms of the contract, conditions or how your real estate agent presents the family. Even the relationships between agents can become a factor in competing offers.
If you’re considering buying or selling a home in Greater Vancouver, feel free to contact Jacky for more information. Visit the ‘About‘ page to learn more about Jacky in real estate!