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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1700+ Client reviews!

Matthew H.

It was a pleasure working with Alex Ellis during our search for a lot in the Austin area. Alex was very knowledgeable of the Austin market and surrounding areas, and always quick to respond whenever we had any questions or concerns. Alex always kept our best interests in mind and helped the entire process go as smoothly as possible. I look forward to working with him for many years to come!

Skylar T.

I’ve worked with Jeremy Vandermause twice in the past 4 years and have had an excellent experience. Thoughtful, thorough, and truly takes your best interests to heart as he works FOR YOU. Strong recommendation for any type of buyer trying to wrap their head around the Austin market.

Customer S.

My experience with Jeremy Vandermause as my realtor has been a phenomenal experience. I’m extremely thankful that I got setup with someone who is passionate and truly cares about what you want in a home. He took a lot of the stress off of finding a new home, especially in an area that I am brand new to as I moved to the Austin area less than 6 months before purchasing this home. If you are looking for a new home or are a first time home buyer like myself, I definitely recommend Jeremy as he is knowledgeable in homes and in the areas he services while also being as particular as you are in finding the best deals on the market. He doesn’t waste your time with houses he knows you won’t like and digs until he finds something matching your criteria. He also helped me sell a home 6 months later, which was as smooth as purchasing. Thanks for everything Jeremy! It’s been a real pleasure working with you.

Jackie Murchison

Linda Baddour continues to amaze- I could not recommend her enough. I’ve worked with her twice now, and she never fails to deliver. Whether you’re a first-time homebuyer or looking for your next home, she is an incredible resource and always puts your best interests first. You’re in great hands if you work with Linda!

Yuthika Agarwalla

We had a very good experience working with Craig McGuire for our house hunting needs! He was very prompt, professional, and made us feel very supported across the entire process. Craig’s well rounded and extensive background in real estate was a huge asset to have. He’s extremely knowledgeable about the Austin real estate market. Ultimately we got the house we wanted, quickly, at the price we desired, and with the contingencies we needed. Thanks Craig!!

Jeremy K

I worked with Jeremy Vandermause to buy my first home. Jeremy was so patient throughout the process (which I definitely dragged out as I gathered all the facts). He consistently sent me homes I was interested in and was eager to show them off, and on the odd occasions where I found one he hadn’t already seen he always made himself available to walk through with me. He was very helpful in those walkthroughs pointing out home features I would have missed, or providing context on neighborhood. As a native Austinite, he definitely knows the history and cultural fabric of the city and each neighborhood. I started with close to zero knowledge of the home-buying process and Jeremy walked me through every step with clarity and patience. So excited about the home I now own! Plus, he’s just a legit cool dude. I always really enjoyed our conversations and could tell from the start he was someone worth knowing in Austin

Jeremy K

I worked with Jeremy Vandermause to buy my first home. Jeremy was so patient throughout the process (which I definitely dragged out as I gathered all the facts). He consistently sent me homes I was interested in and was eager to show them off, and on the odd occasions where I found one he hadn’t already seen he always made himself available to walk through with me. He was very helpful in those walkthroughs pointing out home features I would have missed, or providing context on neighborhood. As a native Austinite, he definitely knows the history and cultural fabric of the city and each neighborhood. I started with close to zero knowledge of the home-buying process and Jeremy walked me through every step with clarity and patience. So excited about the home I now own! Plus, he’s just a legit cool dude. I always really enjoyed our conversations and could tell from the start he was someone worth knowing in Austin

Caitlin Henson

I highly recommend working with Alex Ellis and am so thankful he helped us last year to close on a lot for our future dream home. Alex is thoughtful, takes time to explain the process, and goes the extra mile to communicate. He was an especially valuable thought partner during the negotiation to close the deal. I look forward to partnering again on future transactions!

Chelsea

Buying a house in today’s Austin market is a daunting proposition, but Kasey Gilliam made it as easy as possible. I was buying my first home and had lots of questions (not to mention the questions I wouldn’t even think to ask) – Kasey was great with all of it! Patient, diligent, and always there to guide me through it. She worked tirelessly to make sure I found the right house that met my needs and fell within my budget. Kasey was invaluable when it came time for closing. I didn’t know the first thing about how the process worked, and she guided me through every step. I can’t recommend working with Kasey enough!!

Sam Reicks

I worked with Jeremy Vandermause. He was great! He was very available and flexible. Over a couple months we ended up submitting 20+ offers and viewing tons of properties, often with last-minute notice. In the end he found a FSBO property that he connect me with. I never could have found it without all his help and work.

Natalie Blanco

Have been working with Alex for the past 2 years and it’s been amazing! I’ve bought 3 homes and sold 2. Alex E. is so communicative, friendly, has my best interest in mind and is just a joy to work with. Highly recommend

Bob Trochta

We highly recommend Bailey Moran for selling a home in the Austin real estate market. She is knowledgeable, efficient and a joy to work with. She and her team did an excellent job selling our house quickly and with complete satisfaction. Bailey provided thorough and organized information from the beginning, clearly demonstrating her very professional and practical approach to marketing and serving the needs of the client. She kept us informed at each step along the way. At no time did we feel left out or uninformed on the status, activity or comparable position of the property in the marketplace Bailey showed a clear understanding of the complexities of a real estate proposal and how to respond to the details of the offer. Her experience in negotiations, whether representing the buyer or seller, obviously enabled her to interpret proposals quickly and propose responses precisely for the desired results. The Bramlett Residential organization provided extensive support functions throughout the marketing process, completing them efficiently and methodically. Again, Bailey’s experience proved effective as arrangements for the closing process were completed and carried out without delays. It was a pleasure working with Bailey from start to finish.