Summer 2025 is shaping up to be an excellent time of year for homebuyers in the Phoenix metro area. Metro Phoenix has entered a buyer’s market due to an increase in inventory of homes and price reductions, as sellers attempt to meet buyers closer to their pricing expectations. The buyer-friendly trend is also reflecting nationwide, as according to a recent report, there are nearly 500,000 more sellers than there are buyers in the United States.

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First Step: Get Preapproved for a Loan

Before submitting any offer to a seller, it is recommended that buyers work with a licensed real estate agent and get pre-approved for a loan. Especially relevant due to the high interest rates right now, buyers need a clear understanding of what they are able to afford before shopping. Pre-approval also boosts the credibility of a buyer in the eyes of a seller, as it is proof that a buyer will be able to perform on their contract. It also keeps the buyer competitive amongst other offers submitted, as offers backed by mortgage pre-approval often have a lower risk of falling through.

Getting pre-approved for a loan also prevents wasted time, such as scenarios in which a buyer has already submitted an offer for a home, only to find out that they have been approved for a loan much lower than their submitted offer.

Pre-approval is also crucial for the agent, as it assists in negotiating rate buydowns and knowing exactly how much to ask for to be in line with the buyer’s budget.

Get a Home Inspection

Home inspections aren’t just for safety – this process can identify expensive repairs before closing, and findings can be cited as possible seller concessions. Most defects identified during a home inspection can be leveraged. Common issues discovered are electrical and plumbing issues, which aren’t immediately visible upon walking through the property. Buyers moving from out-of-state may not recognize the signs of a termite infestation, and may not think to ask about a pool’s heater or filter. Other defects commonly spotted include A/C unit malfunctions, sewer line issues and roof degradation.

Working with an expert real estate professional is recommended, as these agents can help buyers assemble a BINSR, or buyer’s notice and seller’s response. This list itemizes issues identified during a home inspection, including quotes from professional repair companies to give the seller a realistic expectation for costs. BINSR lists can help a buyer receive as much money as possible from a seller to cover repairs found during an inspection, and the seller can be reassured that the concessions requested are legitimate.

Other Negotiation Strategies

Beyond negotiating concessions after home inspections, rate buydowns, which equate to lower home mortgage fees, and assistance with closing costs are other bargaining chips that buyers can request during a transaction. Occasionally, sellers are also willing to part with personal property from the home, including high quality furniture or appliances. Finally, buyers can negotiate rent buy backs with sellers, which is a post-possession agreement for sellers who require extra time during the moving process. In this scenario, the seller becomes a tenant to the buyer and pays costs for the duration of their time residing there.

When leveraging smart negotiation tactics and the professional connections of a licensed real estate agent, it is possible to find one’s dream property within budget.

If you are home shopping and are interested in speaking with a licensed real estate agent, visit homesmart.com.

Author: Liz McDermott is a licensed Realtor® at HomeSmart.