Whether you're thinking about buying a home or selling your home in a seller’s market, it's important to be prepared for the competition and to work with a qualified real estate agent who can help you get the best possible price for your home.

Here are some strategies for selling your home in a seller's market:

• Price your home competitively. In a seller's market, you may be able to get away with asking a higher price for your home than you would in a buyer's market. However, it's important to price your home realistically so that you don't scare away potential buyers. 

• Make your home as appealing as possible. In a competitive market, every little detail counts. Make sure your home is clean, staged, and in good condition before you put it on the market.

• Work with a qualified real estate agent. A good real estate agent can help you navigate the seller's market and get the best possible price for your home.

Here are some strategies for buying a home in a seller’s market.

• Make sure you have a mortgage pre-approval letter. Better yet, make an offer once you have a fully-underwritten pre-approval. A fully underwritten pre-approval gets most of the loan paperwork completed before you make an offer, so that the whole process is shorter and has a better chance of closing without issues.

• Seller’s usually prefer offers with the least amount of contingencies. Make sure you only remove contingencies that you feel comfortable removing.

• Increase your initial deposit amount. The standard deposit is 3% of the offered price, but a larger initial deposit can be attractive to sellers.

• Offer over the asking price. If there are multiple offers, sellers usually pick the highest offer.

Buyers, on the other hand, must come prepared with mortgage pre-approvals, minimal contingencies, and attractive offers to stand out in the fierce competition. Partnering with a qualified agent becomes crucial for both parties to navigate the complexities of a seller's market successfully.