What should a salesperson do when representing a buyer in a seller's market?

In a seller's market, demand for properties exceeds supply, which often leads to competitive situations for buyers. Therefore, it is essential for a salesperson representing a buyer to be proactive and responsive to new listings. Being alert to new properties that come onto the market allows the salesperson to quickly notify their buyer, which is crucial in a fast-paced market where homes can sell within days or even hours.

By acting quickly, the salesperson increases the chances of securing a desirable property before it is snatched up by other prospective buyers. Offering prompt advice and guidance enables the buyer to put forward competitive offers, thereby maximizing their opportunity to succeed in purchasing a home. This approach not only demonstrates the agent's commitment to the buyer but also aligns with effective strategies utilized in a seller's market.

Other strategies, such as encouraging buyers to wait for better offers or focusing solely on negotiating lower prices, may not be viable, as delays or outdated offers could result in missed opportunities in a market where urgency is key.