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How to Win Multiple Offer Situations in 2022

Multiple offer situation

According to the Federal Housing Finance Agency, U.S. house prices increased from the second quarter of 2020 to the comparable quarter the year after by 17.4%.

Utah, meanwhile, achieved an annual appreciation of 28.3%. That was second only to Idaho, which had 37.1% appreciation.

While the fallout stemming from the COVID-19 pandemic may have spooked some homebuyers, multiple offer situations are still commonplace.

What are your options in 2022 when competing with other buyers to get the house you want? Are there ways to increase your odds of success?

Here are some tips and tricks to help you beat the competition and get the home you’ve always dreamed of buying.

Know Your Market

Spend some time researching the real estate market before you go house-hunting. First, you need to know what similar properties go for in Salt Lake City. This will help when it comes time to make a competitive offer for a home.

Work With the Seller

The seller is in the driver’s seat in the hot Salt Lake City real estate market. You’ll want to respect this fact so that negotiations lead to the desired results. 

Two-way communication is essential. Respect deadlines, agree to favorable closing date to the seller and be cooperative rather than adversarial. You’ll want the process to be as smooth as possible.

Go Easy on the Contingencies

You can tip the odds in your favor by going easy on the contingencies. For instance, you can consider waiving a home inspection. Of course, the more contingencies you’re open to waiving or skipping, the more attractive your offer will be.

While going easy on the contingencies can help, you shouldn’t take on more risk than you can reasonably handle. For example, if you’ll be maxing out your financial resources to buy a home, you might not want to skip a home inspection.

The last thing you’ll want is to face significant expenses after buying a home.

Submit Your Highest and Best Offer

When it comes to the real estate market, your best bet is to table your best offer right off the bat. This is especially true if there are multiple offers on the table. A ridiculously low offer might turn off the seller altogether.

In addition to delivering the best offer, you can show proof of adequate financing to close the transaction and reduce the due diligence period. You’ll want to make the sort of offer that the seller can’t refuse.

Work With an Experienced Agent

Everything will be more accessible if you work with a reputable and experienced real estate agent. The realtor you work with should know the Salt Lake City real estate market inside and out and should be a shrewd negotiator.

Such a professional will explain the process, answer your questions, and give you advice that helps you make the right decisions.

The Right Realtor Will Help You Navigate Multiple Offer Situations

Do you need to find a realtor who can help you in multiple offer situations? For example, are you interested in buying or selling a home in Salt Lake City?

If you answered yes to any of these questions, you’ll want help from the number one Salt Lake City realtor. We help buyers find the perfect residences and help sellers get top dollar for their homes.

Get in touch today to find out how we can help you get the results you want.


What to Expect: SLC Real Estate Trends for 2022

Utah Real Estate trends 2022

Ever since the pandemic, the real estate market has been soaring. It’s undeniable that it’s a great time to sell but a poor time to buy.

Many consumers hoped to wait out the high prices, but that’s looking like a very long wait. Experts predict that the high rates will continue far into 2022. So the best way to beat the market is by understanding it.

When focusing on real estate in the United States, you should pay close attention to SLC real estate trends. Salt Lake City is predicted to be the highest housing market by 2022.

Here’s everything you need to know.

Salt Lake City Is Expected to Be the No. 1 Housing Market in 2022

According to, the Salt Lake City real estate market is the No. 1 housing market and in an excellent position to continue its growth into 2022. The closest competitor for the title is Boise, Idaho.

Mortgage Rates, Interest, and Prices May Increase

It’s always possible that the market may go down if you wait. However, most experts are predicting it will continue to rise.

Because of this increase, the governor is introducing a new proposed budget for 2022. He hopes to lessen the demand for homes and stop the rising prices before they crash.

Multifamily Homes Will Become More Popular

Amid the volatility of the housing market, multifamily homes are one of the growing real estate market trends. This is especially true for investors.

This popular real estate trend remained stable before, during, and after the pandemic. The affordable acquisition cost is the main reason to buy a multifamily home.

When broken down by unit, it’s cheaper to buy or build a multifamily home instead of a traditional house.

Interest in Senior Housing Continues to Grow

Another 2022 real estate trend will be investors turning to senior housing. Because the sector is less cyclical than other parts of real estate, it’s a stable investment that continues to grow as people age.

Work from Home Is Changing the Real Estate Market

During the global pandemic, most businesses had to either shut down or allow their employees to work from home. The real estate market is no exception.

Suburban Living Is Becoming More Popular

Salt Lake City is booming because of quick jobs and population growth. That means more families are looking for homes.

With more families, there comes an increase in people looking for suburban homes. Salt Lake City is very walkable, and there are plenty of wonderful neighborhoods for families looking to move.

Learn More About SLC Real Estate Trends

At first, it might seem worthwhile to wait out the high real estate market. However, it doesn’t appear to be going away any time soon. All the other trends that the pandemic started look like they’re also here to stay.

Working from home is reshaping the market in ways no one predicted. Suburban living and senior living are on the rise. But, no matter what the new trend is, Salt Lake City is at the center of it.

For more information, contact us! Our experts would love to discuss SLC real estate trends with you.