How do I stay competitive in this market?

A: A prolonged seller’s market in which inventory remains limited can be challenging for buyers and agents alike. In this climate, it is crucial that people serious about prevailing in a multiple offer situation be focused, determined and prepared.

First, and foremost, align with an experienced agent who knows the area in which you want to live.

He/she will be able to provide guidance not only about recent home sale comparables but information about pending sales as well, which comes from networking with colleagues.

Having your purchase money source in place, and thoroughly reviewing (and understanding) all reports and seller disclosures so you can present the cleanest offer possible (no contingencies) is also a must.

Taking the time to create a thoughtful personal letter to the seller, letting them know a bit about you as well as the reasons why you love their home is important. I have seen many instances in which such a note helps a buyer edge out the competition.

Last, but not least, it is important to keep the faith. Know that the right home for you is the one you will ultimately have. In the 25-plus years that I have been helping people buy and sell homes, this has always proved to be true. Good to know, right? Karen Starr,

Grubb Co., (510) 339-0400, ext. 224,

starr@grubbco.com.

A: Due to the lack of inventory the past few years, the Bay Area real estate market is creating a challenging environment for most buyers. We have come up with a few tips for successfully navigating a multiple offer situation.

Come in strong upfront. Make your offer as clean as possible and with short time frames, and sign off on all reports and disclosures received. Make sure all financing is in place and have a letter of pre-approval from lender to submit with the offer. A personal letter to the seller can also be a nice touch.

Work with a professional agent who knows the market. Work with a Realtor who is experienced and who is an expert in your marketplace.

Be as flexible as possible with the seller’s needs. Have your agent find out what terms the seller is looking for and meet those needs.

Pricing and financing are not always the No. 1 seller concern, so meeting their other terms is another way to make your offer stand out.

It can be frustrating to buy a home in a competitive marketplace. It’s not uncommon for buyers to lose out on several homes before they acquire one.

Our best advice — stay positive, focus on the big picture and keep your end goals in mind.

Kathleen Daly, Caldwell Banker, (415) 519-6074,

kdaly@cbnorcal.com; Lisa Lange, Coldwell Banker,

(415) 464-3318, lisalange@coldwellbanker.com.

A: When faced with competing, offers it becomes vital to complete your due diligence prior to the offer date.

Review all disclosures and reports provided by the seller or complete your own inspections. Ask questions if clarification is needed.

If you get a loan, work with a local broker to get pre-approved. You’ll be competing against cash buyers, so do everything you can to make the loan a non-issue.

Relationships between Realtors are so important. If the listing agent knows your agent closes deals, they will (hopefully) put your offer at the top of the pile.

Your offer should have no contingencies if possible. Sign all disclosures. Waive inspections. Make the loan non-contingent financing or make a cash offer. Check to see if there’s anything the seller will be looking for that you can provide.

Oftentimes, offering a rent back period after close is enough to tip the scale your way.

Adam Gavzer, McGuire Real Estate,

(415) 505-0714, agavzer@mcguire.com.