The property market under $800,000 is experiencing fierce competition, with open homes attracting over 25 groups and multiple offers often exceeding 10. In many cases, properties are going under contract within a week—sometimes even within hours—before many buyers even get a chance to view and submit an offer.
If you’re a buyer looking to secure a property in this fast-moving market, preparation is key. Here are some practical strategies to improve your chances of success.
1. Understand the Seller’s Priorities
Before making an offer, talk to the agent about any special conditions the seller may consider. These might include:
✔️ Offers subject to the sale or settlement of your current property
✔️ Preferred settlement timeframes (shorter or longer)
✔️ Flexibility around deposit amounts or payment terms
Knowing these details in advance helps you structure a more attractive offer that aligns with the seller’s needs.
2. Check for Available Reports and Documents
More properties are now listed with upfront building and pest reports or relevant search documents. Always ask the agent if these are available, as they can save you time and money when making an informed decision.
3. Put Your Best Offer Forward First
In a competitive market, there’s often no opportunity to negotiate or revise your offer. If a property is right for you, put forward a strong offer from the start—one that you’d be happy with if it were accepted immediately. Many buyers lose out because they hold back, assuming they’ll have another chance to bid higher.
4. Register Your Interest with the Agent
Don’t wait until the open home to express your interest. Reach out to the listing agent as soon as you see a property you like. Let them know you’re keen and want to be kept in the loop.
💡 Pro tip: On realestate.com.au, you can register your attendance and details for open homes. This helps agents contact you if an early offer comes in that the sellers are considering.
5. Get Pre-Approved for Finance
Sellers and agents favor buyers who are financially ready. A pre-approval from your lender shows you’re serious and can move quickly if your offer is accepted. In a market where speed matters, having your finances in order could be the difference between securing a property and missing out.
6. Be Available and Responsive
When competition is this high, timing is everything. Keep your phone on, check emails regularly, and respond quickly to any updates from the agent. Delays in communication could mean losing out to a buyer who was faster to act.
7. Consider Off-Market Opportunities
Some properties sell before they even hit the market. Stay in touch with local agents and let them know what you’re looking for—they may have upcoming listings that fit your criteria. Being on their radar gives you a head start on new opportunities.
Final Thoughts
Navigating a competitive market can be challenging, but with the right strategy, you can put yourself in the best position to secure your next home. By preparing early, acting quickly, and putting your strongest offer forward, you’ll increase your chances of success.
Looking for expert guidance to help you secure your dream home? Get in touch today—let’s make your next move a success!
