Tips for Making a Competitive Offer in a Seller's Market

There is no question about it: Calgary, Alberta is in the midst of a seller's market. What is a seller's market exactly? Investopedia writes, "A seller's market is a market condition characterized by a shortage of goods available for sale, resulting in pricing power for the seller. A seller's market is a term commonly applied to the property market when low supply meets high demand"

In a seller's market, buyers need to make their offer stand out amongst the rest! Here are some tips on how to do so:

  1. Get Pre-Approved for a Mortgage: Before you start house hunting, get pre-approved for a mortgage. This will show sellers that you are a serious buyer and can afford the home. It makes it more likely your financing will pull through and not leave them hanging with an unfilled offer!

  2. Work with Team Ken Richter: A knowledgeable real estate agent can provide valuable insights into the local market and help you craft a strong offer that stands out to sellers. Use Ken's 35+ years experiencing every kind of market to your advantage!

  3. Know the Market: Understand the current market conditions in the area where you are looking to buy. This will help you make an informed decision when making an offer. Team Ken Richter can make sure you are equipped with all necessary knowledge!

  4. Be Flexible with Your Timeline: Sellers often appreciate buyers who can be flexible with their closing timeline. If possible, try to accommodate the seller's preferred timeline.

  5. Offer a Competitive Price: In a seller's market, offering the asking price or above can help your offer stand out. Team Ken Richter can help you determine a competitive offer price based on market trends and the home's value.

  6. Include a Personal Letter: Sometimes, a personal touch can make a difference. Consider writing a letter to the seller explaining why you love their home and why you would be the perfect buyer.

  7. Limit Contingencies: While contingencies protect you as a buyer, they can also make your offer less attractive to sellers. Try to limit the number of contingencies in your offer, but don't forgo important ones like a home inspection.

  8. Be Prepared to Act Quickly: In a competitive market, homes can sell quickly. Be prepared to act fast when you find a home you love, but don't rush into a decision without careful consideration.

Ready to make your move! Let's get started today. Email or call directly at 403-630-6363!

(Image created with Canva)

Posted by Ken Richter on


Email Send a link to post via Email

Leave A Comment

Please note that your email address is kept private upon posting.