Like many cities across the nation – and, it would seem, particularly in Texas – Dallas' housing market is in turmoil, making the home-buying process even more intimidating for prospective buyers. 

“We definitely have a home shortage,” Nikki Barringer, a realtor with Dave Perry Miller, told FOX 4 Dallas-Fort Worth. “We had 370,000 people that moved here last year.”

Kenneth Cox, a broker at DFW Urban Realty, said that the most important steps in the home-buying process can be taken before looking at a single home. This is particularly true for those looking in the ultra-competitive Dallas area.

"The most important tip is to be prepared, ready and able to submit an offer when the right opportunity presents itself," Cox told Texas Realty News. "All buyers should have financing in place with a pre-approval letter ready to send along with any offers that are presented. Also, as a buyer in the current seller's market, you need to be prepared to bid over asking price, especially in hot neighborhoods with high volume."

He added that while buttoning up your finances ahead of time will serve today's home-buyers well, being amenable to fast-tracking the sale process will also make buyers all the more attractive to sellers in the current market.

"With the current demand and competition on what inventory is available, it’s also a good idea for buyers to be in a position to present an offer with a quick close date," Cox said.

Dallas Fine Living agreed that prospective buyers should have a pre-approval letter from a mortgage provider before meeting with an agent to boost the chance of their offer being accepted, especially when competing with other buyers. Cox said that arranging a cash bid with home-finance companies could also give buyers an edge. 

"One of the strategies I’ve seen some of our agents use recently is working with companies like Homeward to allow the buyer an advantage of presenting a cash offer without financing conditions," he said.

Another strategy is for buyers to attempt to contact sellers personally to request the seller to accept their bid.

"There is absolutely nothing wrong with trying to appeal to the seller’s emotions when presenting an offer," Cox said. "Sellers that have been in a home for an extended period of time often have an attachment to their home with a lifetime of memories, and any kind of positive emotional attachment to the buyer can’t hurt their chances of securing the winning bid."

According to Dallas Fine Living, 93% of all consumers begin their search for a new home online.

Home-buyers can visit DFW Urban Realty to find resources for sellers, buyers and renters, including information on how to contact a realtor.