How to win in a competitive housing market
Today’s HousingWire Daily features a crossover episode from HousingWire’s Girlfunds podcast, a female financial empowerment podcast. In this episode, LA-based Real Estate Agent Xio Sandoval discusses how she is helping her clients lock in a home in today’s competitive housing market, along with some creative financial ways she has helped people buy a home, such as renting out the basement.
Here is a small preview of today’s interview with Xio Sandoval. The transcript below has been lightly edited for length and clarity:
Sarah Wheeler: You know, we did want to ask you one question about the housing market competition. Currently, Brena Nath is in the process of buying a house, and I just bought a second house. I know you value creating long-term relationships with clients, but in today’s fast paced, competitive housing market, how are you helping them lock in their dream home?
Xio Sandoval: I have a couple of buyers right now that are just being rejected, and we’re submitting very aggressive offers. So, I just make sure they understand and remind them that they have to be patient. I’m here for them. I don’t care if I show them two houses, 20 houses or 30 houses, we’re going to get in and I’m not giving up on them. Right now, a house I’m working on is paying 2.5% commission to the MLS agent. I’m giving 0.5% or 0.75% back to the seller as a credit, so they can consider my buyers offer because I rather work in volume than make money in one deal. This means that buyer is going to stay with me. In fact, right now I’m selling houses to the children of former clients from 10-15 years ago, which is unreal. The market is crazy but that will eventually slow and that’s why maintaining your relationships is important. If the agents know that you are like minded, they will eventually want to work with you.
HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.