Getting access to listing information is easy these days. A quick Google search and you have found a website that will give you access to almost all of the condo and house listings in the metro Edmonton area. And if you set up a search, you will get new listings pouring into your email box several times a day.
So Why Is This a Problem?
Everyone can get this information. So what? You might be asking. Why is this a problem? The problem is that you will be competing against all the other buyers out there. Rarely do sellers put their homes on the market at under market value. And if they do, what happens? You will have to act quickly and will almost always be in a multiple offer situation. Your chances of purchasing at a discount are slim.
So where is the gold? Old listings of course!
House and condo listings that have been on the market for 90 days plus are stale inventory. Whereas most buyers are focusing on the new inventory, you should try to find the old listings. They may still be overpriced, but often at this stage, the sellers are getting frustrated, the agent is about to lose the listing and great deals can be had. You just have to make an offer.
And the biggest advantage?
Less competition. Most other buyers will simply be looking the other way. Significant discounts can be negotiated if you are working with a competent REALTOR®. If you would like a list of ‘stale inventory’ please give us a call, or click this link to find a team member: Ambergate Realty Advisors Team.
Not sure how to decide what kind of home you need? This link might help you: How To Select Your Next Home.
Wondering if you really need a REALTOR® to help you? Read this article before you decide: 7 Reasons to Choose One REALTOR When You Buy a Home
This blog was first published March 10th, 2015. It was refreshed and re published March 23rd, 2019.