It is easy to get overwhelmed by bidding wars, trying to secure a reasonable interest rate, and figuring out what Seattle neighborhood or suburb is the right one. The upfront hurdles may seem impossible to lock in a great deal when looking for a Seattle home when homes are selling well over the asking price.

But buyers should not despair! The team at Prevu Real Estate compiled the tips below to help you land a great deal on your Seattle home.

Tour homes day one on the market

Many aspiring homeowners romanticize the idea of going out on the weekend to tour homes with their agent, but times have changed. Savvy buyers can not afford to waste time, and when you find a Queen Anne home you love, you need to see it ASAP.

Because of tech advances in the real estate space, you can get alerts to let you know when homes matching your search criteria hit the market. Because Seattle is experiencing a seller's market, homes sell within days of listing in bidding wars, leaving little time for buyers to see properties.

That is why you have to make time to attend tours right away. If you work from home and can pop over to a tour quickly, then you may have the upper hand. Office workers should make their late afternoons and lunch hours available if possible.

Before you begin searching for listings, You should also partner with an agent to enhance your home buying journey.

Hire an experienced buyer's agent

Landing a great deal in Seattle routinely comes down to negotiations.

There are many nuances to consider when buying a home, and an expert buyer's agent can help you craft the most appealing offer you can make. They can advise you on the risks of conceding contingencies or navigating non-financial terms like inspections.

Beyond orchestrating the pivotal negotiation process, your agent will be able to suggest similar suburbs and neighborhoods to refine your search process. Listing agents can provide good information, but remember that they have a fiduciary duty to the seller.

A buyer's agent is your advocate throughout the transaction process and should tirelessly work to help you land a deal on a Seattle home.

Ask for a commission rebate

Purchasing power can make or break a buyer when trying to land a deal on a new home.

Listings in Seattle are scarce, and the chances are that if you love the new Magnolia home that hit the market, others like it too. That is why buyers need to improve their purchasing power, and the best way to do that is through a commission rebate.

Commission rebates are a newer concept and few brokers offer them. Typically, the buyer's agent and the listing agent split a broker fee when a transaction closes. By streamlining the search and transaction process, modern brokerages like Prevu Real Estate enable buyer's agents to provide a portion of the broker commission back to new homeowners in the form of a rebate.

When you search listings on Prevu’s digital buying platform, you can see on every listing how much of a rebate you could expect to receive with the company’s Smart Buyer Rebate.

This is why homebuyers in Seattle need to interview various agents in their search for the perfect home. Ask them about how many deals they have under their belt in your target neighborhood, what types of homes they've helped sell, and if they offer commission rebates at closing.

Come equipped with a pre-approval letter

Speed is of the essence when trying to lock in a great deal on a home.

This is why buyers thinking of purchasing property in Seattle need to secure a pre-approval before searching for a home.

Lenders provide buyers with pre-approval letters after doing a preliminary review of their financial information to determine how much they will lend you for a mortgage. A pre-approval demonstrates to the seller that you are serious and prepared.

In a competitive market like today, some buyers go a step further and receive a fully-underwritten pre-approval from their lender. This is the most comprehensive type of pre-approval such that a lender performs a majority of the underwriting process prior to the buyer even making an offer. Sometimes referred to as pre-underwriting, this process allows buyers to close quicker and feel more confident with the risk of waiving financing contingencies.

Be aggressive on homes with potential

It is hard to divine what buyers will want in the future. But part of getting a great deal in this competitive Seattle real estate market means finding a home that will have appreciation potential, even if you have to pay over asking price today.

Buyers approaching the market today have to figure out what might be popular with future buyers. For instance, Mercer Island and suburban homes in Yarrow Point may continue to rise in value as more tech companies call Bellevue and neighboring Kirkland home.

When looking at future value, buyers should ask their agent what other buyers desire when buying a home. Home features to take into consideration are indoor-outdoor rooms, accessory dwelling units, and waterfront access.

Interested in getting a great deal on your Seattle home purchase?

Browse listings and see how much you can save with Prevu’s Smart Buyer Rebate.