Question: How do you keep clients buoyed when they are repeatedly outbid?
Answer: The most important thing is to set expectations up front, and let buyers know they may be in for a marathon instead of a sprint!
San Francisco is a top-tier city, and as a buyer in this market, they are most likely going to be in a competitive situation. Buyers need to always put their best offer on the table, and if they don’t get the property, they can’t take it personally. The buyer needs to stay focused, keep a sense of humor and realize the law of averages will eventually be on their side: The more they shoot, the more they’ll score.
I encourage buyers to keep an open mind regarding neighborhoods and criteria that suits their needs.
Buyers get caught up in the excitement of the “new” inventory every week, but often there are good properties that have fallen off the radar. Those properties may have been overpriced to begin with, or just lost in the shuffle – but one shouldn’t ignore real estate that has been on the market for several weeks.
In addition, I always keep an eye out for “off market” or pocket listings – buyers want to work with an experienced local agent who hears about these listings, either through Top Agent Network or their relationships with other agents.
Read more opinions on SFGate.