How to stand out in a crowded Sacramento housing market, according to real estate pros
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How to stand out in a crowded Sacramento housing market, according to real estate pros
In a competitive and expensive California real estate market overflowing with potential buyers and renters, standing out may seem futile.
And while the housing market competition is fierce for want-to-be homeowners, more and more people are turning to rentals nationwide.
According to the Rental Protection Agency, there are currently more than 115,000,000 renters in the United States and the number continues to grow as 2,654 new renters enter the market each day.
“It’s no secret here that in California — Sacramento, specifically — we’re one of the hottest markets in the entire nation,” said Sacramento realtor John Campos. “And it’s exceptionally difficult to get a home offer accepted and I think it’s actually 10 times harder to get an application for a rental accepted.”
But it doesn’t mean it’s impossible.
According to real estate agents in the region, there are ways you can present yourself as the ideal candidate for a property or apartment and score your new home.
Here’s how:
Find a real estate agent ‘up to your standard’
If you’re looking to purchase a property, you should seek a real estate agent who is communicative and diligent, and who will take their time to work with you, Campos said.
Interviewing agents is a great way to find out if they are the right fit for you.
“Make sure that they’re up to your standard, that you feel comfortable, that they are explaining things in a manner that you understand and not just breezing over topics, assuming that you know what they’re talking about,” said Campos, who also makes videos on social media to help guide people through the real estate market.
The right agent can help market you to the property’s listing agent. They can talk to them directly about how great of a person you are, your attributes, financial situation, pre-approvals and why that home is special for you, Campos said.
“That’s what makes you pop out of the crowd,” he said.
Have your documents ready to go
Whether you’re submitting an offer for a house or an application for a rental, be sure to have all your documents ready to go.
“You want to make sure you’ve got everything lined up and you have a good, clean package with no questions left unanswered for that seller,” said Della Johnson, a realtor with Better Homes and Garden Real Estates in Fair Oaks.
Johnson, who also has rentals and works with potential tenants, said that she likes it when people put together packages that provide information about their credit score and past references.
And you want to be as detailed as possible when sharing your financial strength, Campos said. When buying a home, having a pre-approval letter and a letter from the heart, which is essentially a love letter about your interest in the property to appeal to the seller, can “drastically increase your chances of acceptance,” he said.
As for renters, you should include your bank statements, pay stubs or even a stock portfolio to show that you’re great with money.
Campos said it’s about pulling out all the stops and making it easy as possible for that landlord to choose you. .
Be quick and show up, if you can
Whoever has everything first is the winner. Basically, Campos said, be sure you have your information ready and apply for the place you want as soon as you can.
Also, if possible, you should go to the property’s open house or make an appointment to see the place.
This gives you the chance to speak with the property manager or owner in person. Campos said that showing up, along with a detailed application, can put you at a high advantage over others who didn’t see the property or who don’t have all their paperwork together.
Pay rent in advance
If you have the financial resources available, offer to pay rent a month or two in advance, Campos said.
Keep applying
Don’t get discouraged if you need to apply to more than one place to secure a home, said Gina Cole, a corporate communications representative for Zillow. It’s common, considering a typical renter will submit two applications, according to Zillow’s Consumer Housing Trends Report.
Do you have questions about the Sacramento real estate market? Email utilityteam@sacbee.com.
This story was originally published January 14, 2022 at 5:00 AM.