Determining an Offer Price in a Boom Market

We've always taken pricing very seriously and Austin's boom market has presented interesting challenges when determining what to offer on properties. Almost all properties go to multiple offers & many have offers 20% to 30% (or more) over the list price. Sold comparables more than 1-2 months old are no longer relevant (unless adjusted) and gauging the current trajectory of the market is as important as analyzing sold comps. Because of the substantial current buyer demand & the extremely low inventory, every situation is unique & we have many factors to take into account.

In Order to Help You Determine Your Offer Price, We Do the Following

  • Conduct Frequent Industry Surveys

    When the market began shifting dramatically, we began sending monthly industry polls to our peers. At the beginning of every month, we send a market survey to 5000+ producing agents in the Austin Metro and ask them what they see & expect in different price ranges. This gives us high level data as to what we should expect in these sub-markets. We keep the latest survey results updated at this link.
  • Prioritize Sold Data 60-90 Days Old

    The market is rapidly appreciating, which means that properties closed 60+ days ago are much less relevant. Because of this, we prioritize sold comps that have closed in the past 60 days. Ideally, we're able to find one or more great comps within this window. If we can't, then we will look to less relevant comps or properties that have closed in the past 6 months and make adjustments.
  • Look at Pending Listings & Leverage Relationships

    The gold standard is a relevant comp that has gone under contract in the past few weeks, but has not yet closed. The problem is that the sales price isn't yet reported. We'll leverage our relationships (and goodwill) with our peers and we can almost always find out the sales price, or a very close range, through a conversation. We're able to gain other insights as to the multiple offer environment, showing patterns, etc during this conversation.
  • Rely on Strong Communication & Relationships

    Ultimately, the market sets the price, and the Austin's boom market has exemplified this entirely. After we've determined how the subject property is priced based on all available data, it's as important to know what the buyer demand is for that property. We stay in close contact with the listing agent to find out how strong the buyer demand is. Many times, we're able to leverage relationships to learn "roundabout" what the high offer prices are, so that we can decide if it's worth competing or not. Though we don't always get this info, we always make every best effort.
  • Consider Your Motivation & Put Your Best Foot Forward

    After we've researched the property in depth, and presented it to you, the only person that can decide what it's worth to you...is you. We can help you understand at what price it will likely appraise, give a best estimate as to other offers, & help you understand market trajectory. The price that you want to offer is ultimately the price that you're comfortable with. You should offer a price and terms that are legitimately your best foot forward and that you will be very happy with if you win. Alternatively, you want to offer a price that is no higher than you're willing to pay, so if another buyer offers a higher price, you will still sleep well.

Ready To Get Started?

We'd love to talk with you! Any discussion is purely confidential. If you'd like to chat with any of our current agents about their experiences, we'd also love to set that up.

*Don’t worry, we hate spam as much as you and would never sell or share your information. Our privacy policy is available here.

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1800+ Client reviews!

Eric K.

Once more, I requested Vicki’s assistance in selling my home. With an initial walkthrough, she provided great guidance on how to prepare for the sale and furthermore, she provided a comprehensive assessment for potential buyers and an easy means to compare a multiple-offer situation. Her insight on the market was helpful to set ourselves up for this situation and end up with a great offer to walk away with!

Chandler Wieberg

Kathryn Strand helped me in summer of 2021 to find my first home. She is very professional and easy to talk to, which was very comforting during such a stressful time to buy a home. I appreciated how honest she was with me and led me in the right direction when deciding on houses. She is extremely trustworthy to do business with. I would recommend her to anyone! Thanks again, Kathryn!

Dave Vanyek

I was in the market to buy a condo in the North Austin area. Shaun Duffenbach was a terrific agent. He is very knowledgeable, and was very quick to respond to all of my questions from the beginning through to closing. I would would not hesitate to work with him him again for a future purchase.

Lacey J.

The experience of buying a home from out of state, in a competitive market felt overwhelming at first. Working with Craig McGuire and team helped us feel secure and heard at every step of the way. Stacy was able to video tour us through potential homes. When we did visit Pflugerville to tour in person we were well taken care of and found our new home the very first day!! Then Craig hustled to get our offer in fast and secured the deal. Very happy and appreciative of the team.

Jen H.

Erin Szczerba encouraged us to view a house we had written off based on how it was listed. It ended up being our dream home. We are so grateful Erin had the understanding, based on her expertise in real estate, to steer us in the right direction. We would have missed this incredible home if hadn’t been for Erin’s guidance.

Jordan Fleischer

Kasey and her assistant Kim were amazing to work with. They were great communicators and always available to show properties. We appreciated her knowledge and transparency throughout the buying process.

Nancy Baynes

We worked with Tara McGuire to sell property and she was fabulous. All of the parties involved lived in different states and she was able to make selling easy for all of us. She was knowledgeable about the current market to aid our decision about the sale of the property, and I highly recommend her for any of your real estate needs!

Campbell Ringel

We could not be more pleased with the help we received from Patrick Hallett and the folks at Bramlett Residential. As first time homebuyers in the very difficult Austin market Patrick helped us remain optimistic and ultimately find and secure the perfect house for us to call our first home. We are so grateful to have had your guidance during this trying process. Thank you again for all of your help!

Cameron K. Brown

Patrick has been absolutely excellent all the way through the process of selling my home. Very knowledgeable, responsive and great to work with

Wenli Zhou

I originally planned to have Eric Enberg help me to buy a house in Northern Austin area, he ended up helping me to buy a condo in Austin downtown recently. He is fantastic to work with. He is very responsive, calm and masterful in the process. Austin downtown area may not be his focus area, but he still managed to provide the best service to me. Thank you Eric.

Michael K

Bought my first home with Eric Engberg. He was amazing to work with and helped guide me through the whole process. He was always available to answer questions and generous to share his experience and knowledge with me. Would recommend him to anyone!

Lukas Bui

We were first-time home buyers from California in the hot Austin market.
We have an opportunity to with with Kathryn Strand and it was an ease and professional experiences for us. Kathryn is excellent and delivered a good communication in timely manner. She is patient, professional and knowledgeable to advise us to get our dream home. Although we have been through a very competitive market, Kathryn walk us though the buying process and remove all blockage and concerns. Moreover, she was very responsive and was able to set up viewings for us on short notice.

Looking forward for our next property with Kathryn and the agency. Amazing experience !