The Chicagoland market is still competitive, but November brings a different set of opportunities. Buyers who are active now tend to be serious, and sellers who remain on the market may have a reason to get a deal done before the end of the year. That creates opportunities that aren’t always about negotiating the lowest price.

Know where to look for leverage:

• Market time: A property that has been sitting longer deserves a second look. The conversation with that seller may look very different today than it did when the home first hit the market.
• Seller motivation: Price reductions, a previous contract that fell through, a vacant home, relocation, or year-end timing can all signal an opportunity to negotiate more than price.
• Terms matter: Closing date, possession, contingencies, closing-cost credits, and financing incentives can all become part of a stronger offer.

Think about the listing side, too! Before automatically reducing the price, consider other ways to create activity. A seller-funded 2-1 or permanent buydown can give buyers another reason to look at the property and give listing agents another way to market it.

And don’t forget about financing that is already on the table. If a buyer already has a lender, Second Look can potentially improve the structure of the financing. As a reminder, the Second Look incentive has been increased to $500 until the end of the year! 

November isn’t about waiting for the market to give you an opportunity — it’s about knowing where to find one. Look at the property, seller, and terms, then bring Key Mortgage in to help determine whether credits, a buydown, a Second Look, or another financing strategy can make the opportunity even stronger.