New Strategy Helps Homebuyers Compete in Low Inventory Markets

If you’re trying to buy a home in Northern Virginia, you’re well aware that inventory in many areas is just about as low as we’ve ever seen. And it’s been that way all year.

Some buyers & agents are walking around wringing their hands about how their buyers just can’t compete. Or how they lost out on that perfect home because it sold before they even knew it was on the market.

Instead, we like to think outside the box (just look at our car!) And so this year, we searched high & low for what we call our secret weapon – and we implemented the Showing Partner Model.

Northern VA Real Estate Marketing       The Belt Team Buyer Model

The concept is based on a study that was discussed at length in the book “Outliers” by Malcolm Gladwell. Basically, the idea is that mastery of a skill to the point of greatness (whether that’s art, athletics, public speaking, music or negotiation) comes with 10,000 hours spent practicing & developing the skill. We decided to apply that study to our business (because our buyers & sellers deserve GREAT, not just good.)

Here’s how the Showing Partner Model works.

Our Lead Buyer Specialist (Tom Reilly) and our Showing Partner (Beth Dadisman) work in tandem. Instead of the traditional model where one agent does everything (or two agents work together to “cover” for one another), our buyers have two agents each working at their specialty – and both working directly with the buyer. That way – each one is twice as good at their particular area of expertise because they hone that skill twice as often. (We do the same thing for our Sellers – with a Listing Specialist and Client Care Manager.)

STEP 1: CONSULTATION

Buyers meet with both Tom & Beth for an initial consultation (no cost, no obligation). You discuss:

  • What you are looking for IN DETAIL
  • Why you are moving
  • Timeframe needed
  • General market overview
  • Market analysis of your target area
  • Financing/costs/loan pre-approval
  • Strategy

STEP 2: LOOK AT HOMES

Beth Dadisman Realtor The Belt Team

Beth Dadisman
Showing Partner

Beth specializes in knowing the market, showing houses and identifying exactly the right home for our buyers. Because that’s all she does (she does not write contracts, negotiate, etc) – she is SO much more knowledgeable than the average agent. She’s like a hawk stalking the market, swooping in for the kill. (That sounds a bit harsh and she’s really a sweet person, but she looks out for her buyers big time!) And she saves them tons of time because she doesn’t show properties that are not a good fit for the criteria they have identified. (We also have a state-of-the-art home search website that our buyers use. It’s faster and more up-to-date than others, so they see new listings first & don’t miss out!)

STEP 3: NEGOTIATION OF CONTRACT

Tom Reilly Buyer Specialist Northern VA Real Estate

Tom Reilly
Lead Buyer Specialist

Tom, who not only is a top-notch, experienced Realtor, also has a legal and technology background. His role is Master Negotiator. When you find that “perfect” home, he moves fast & furious to get the wheels turning. Tom also provides a second set of eyes and an objective perspective on the property you have identified – making sure you are aware of such things as potential resale challenges – so that you are well informed when making an offer.

RESULTS

With inventory so low, the Showing Partner Model is a HUGE advantage. Some buyers have to wait around until their agent has time to show them homes (we had one client whose previous Realtor would only show homes after 6PM!). But between Tom & Beth (and the rest of our team) – our buyers get almost 24/7 coverage. The same thing happens when it’s time to write a contract. Some buyers finish looking at the house and then have to wait for their agent to drive back to their office, draw up the contract and send them the paperwork. In our case, Beth is so skilled at knowing the market and knowing her buyers, that she often has already told Tom which home she thinks the buyers will love. And Tom has already talked to the listing agent and gotten the paperwork rolling.

Here’s how recent buyer Mike Taphorn described it: “Beth from the Belt Team helped us find the home that we were looking for. We were indecisive about whether to stay in Fairfax County or move to Prince William County, and Beth patiently showed us homes in both Gainesville and Clifton/Centreville areas until we found the home we were looking for. And Beth was the one who found, and helped us jump on this listing before it drew too much competition.  Beth’s partner Tom also played a key role in negotiating the sales contract and contingencies until we reached settlement.

Happy Belt Team Buyers -Taphorn

One of our favorite buyer success stories from the Showing Partner Model came earlier this year when we identified what we thought would be a dream home for our buyers the Pogors. We showed the property & the buyers fell in love. But it was Friday and an open house was scheduled for Sunday. Tom not only got the contract executed & presented so well & so fast, but also convinced the Seller to respond and ratify the contract and cancel the open house (which was a HUGE relief to our buyers since it likely would have resulted in competing contracts and a higher sales price IF they even got the home.)

Happy Belt Team Buyers - Iulina and Tatiana Pogor-Oct 2013

If you’re ready to buy a home in Northern Virginia – contact The Belt Team’s very own Dynamic Duo – Tom Reilly & Beth Dadisman TODAY to schedule your FREE consultation.

4 thoughts on “New Strategy Helps Homebuyers Compete in Low Inventory Markets

  1. Pingback: Appraisal Came In Low! Now What? | Northern Virginia Real Estate Blog

  2. Pingback: Honey I Shrunk The Real Estate Market! But By How Much? | Northern Virginia Real Estate Blog

  3. Pingback: Dynamic Duo Strikes Again | Northern Virginia Real Estate Blog

  4. Pingback: Excellence Award Presented to Tom Reilly & Beth Dadisman | Northern Virginia Real Estate Blog

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