Although all-cash sales have been steadily declining, cash sales still make up a significant piece of the market. Cash buyers—those who don't need any bank or other financing—are winning out over mortgaged buyers in more than 50 percent of sales in some areas, according to internet real estate giant Zillow. The problem is, not a lot of regular people have that much cash at their disposal. So how does a regular Joe stay competitive without cash? Here are some tips.

1. Don't Go for the Deep Discount
Cash buyers expect something in return for their all-cash investment—a deep discount off the list price. While speed may be important to some sellers, most will care more about the bottom line. A two to three percent higher offer will likely seal the deal, regardless of whether it's cash or financed.

2. Get Pre-approved
Unlike pre-qualification which gives you a ballpark figure of how much home you can afford, pre-approval is an actual credit decision. It tells the seller that you have a solid loan offer and that the bank has done a lot of the legwork already—credit checks, income verification and so on. If you can't write a fat check at closing, pre-approval is the next best thing.

3. Remove the Financing Contingency
This strategy is risky and not suitable for every buyer. Removing the financing contingency means your escrow deposit is at risk if you can't close on the deal. Talk to your attorney and lender to make sure that your financing is in order before you make the offer. Also, sellers like names they can trust. If the seller or the listing agent recognizes the lender's name, it may give you the competitive edge; so, shop local.

4. Compete on Terms
You can't compete on cash, but you can make the rest of your offer straightforward and simple. Try offering as much earnest money as you can afford, paying the seller's closing costs or agreeing on a short inspection period. If you want a seller to pick you, you have to give him the cleanest deal possible. That means no hidden costs, no hidden small print and nothing that could waste the seller's time.