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Three Strategies For Getting Your Offer Accepted.

 

Three ideas that increase the chances your offers are noticed and accepted.

 

Most of the time, I am the listing agent, but when working with a buyer, I treat their offers as though there were competing against other offers. After all, why not put the best offer forward to help ensure your buyer does not lose their "perfect" home. 

 

One

Financial qualification is a must. Not just a "baloney" letter from an unknown lender... stating:

To whom it may concern...based on the information given, you are approved to buy a house for x amount providing whatever you told me does not change. You do recognize these "pre-approval " letters are not binding.

 Make sure your lender "knows" the client and writes a letter specifically for this buyer and specifically for this property. Give the seller and the listing agent assurance that this buyer can and will move forward to a settlement.

 

Two 

A hefty good faith deposit..go above and beyond the normal. This doesn't cost the buyer any extra. The check is NOT cashed if the offer is not excepted. Again this gives the listing agent and the seller confidence that this is a serious buyer...willing to put up the money to secure the property.

 

 

Three 

Talk to the listing agent. What does the seller need? When do they want to move? Do they need a quick settlement, or do they need time to find a home?

The more information you know about the seller's circumstances, the easier it will be to see how the buyer can be flexible.

Maybe they need to rent back. Perhaps a few extra days after the settlement to move. Perhaps they have bought another home and need the assurance that they will have the proceeds to move forward.

Knowing these answers allows you to put this in writing when presenting the offer.

Something like this would accompany the offer.

'Thank you for presenting our offer. The entire family loves your home and is willing to settle earlier or later to accommodate your plans. Since this young family is "camping" out with her parents, they are ready to adjust the closing to meet the seller's needs. Of course, they would like to move in right away since their home is sold. Just let us know when would be your ideal time.'

 

Margaret Rome

 

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Author of Real Estate the Rome Way

mrome@HomeRome.com

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Comments

Margaret Rome, Baltimore Maryland - what does the seller need and tailor made offer for such needs have a huge impact for sure.

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) about 3 years ago

Flexibility among the parties certainly smoothes the way for a smooth closing Margaret, as you so ably point out. Too bad it doesn't always happen.

Posted by James (Jim) Lawson, DBA, Broker Associate, RSPS, BPOR, HI & PE (DomainRealty.com LLC) about 3 years ago

Good morning, Margaret... that is exactly what I do whether I believe there will be other offers or not. 

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Realty) about 3 years ago

Hi Margaret Rome, Baltimore Maryland - Working with the listing agent always helps get offers accepted. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Realty) about 3 years ago


wise words though here there is zero time to be property specific...waiting for that ...even by minutes can cost the buyer the property.

Posted by Sally K. & David L. Hanson, WI Real Estate Agents - Luxury - Divorce (EXP Realty 414-525-0563) about 3 years ago

You are spot-on with this approach. You can be sure that when a letter is received by the listing agent, he/she will chew it apart to keep the seller on an even keel. The necessary elements are always an equation of how much!

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (HomeSmart Realty West & Lend Smart Mortgage, Llc.) about 3 years ago

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 You are so right about that "mush" letter. It is up to the listing agent to keep the seller on an even keel. Uh oh...I feel a idea for a blog post.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

All good ideas and tactics.

Posted by Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtor, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) about 3 years ago

This is excellent advice to share. Have a most productive spring market.

Posted by Roy Kelley (Realty Group Referrals) about 3 years ago

This is very smart, Margaret. Finding out what the seller needs can be the key to acceptance.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) about 3 years ago

Debbie Reynolds The more info we obtain, the better chance for a successful acceptance. Thank you for sponsoring this month's challenge..lots of good entries.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

This is really smart! I might have to take notes from you, Margaret. :)

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) about 3 years ago

We are in selling mode right now, and our big three are a great preapproval letter, a clean offer, and a top price.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities) about 3 years ago

Talking to the listing agent to find out what the sellers want is a critical component to getting an offer accepted in a multi-offer situation!

Posted by Wayne and Jean Marie Zuhl, The Last Names You'll Ever Need in Real Estate (Samsel & Associates) about 3 years ago

Wayne and Jean Marie Zuhl  You are so right about gathering information.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

Margaret

Thanks for sharing the insight on getting an offer accepted.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 3 years ago

Lou Ludwig And thanks for stopping by.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

As always you provide the best advice! 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) about 3 years ago

Patricia Feager always good to see you.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

Margaret Rome, Baltimore Maryland - same here... I meant to call you back but got swamped! Couldn't follow-through.... not a spokesperson per the rules. Hope you understand. 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) about 3 years ago

Good morning Margaret Rome, Baltimore Maryland ,

I'm so glad I found your post in Carol Williams Second Chance Saturday series! All three points are excellent in wining the bid for your buyer.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) about 3 years ago

Hi Margaret

All are important and I follow them as well - I think getting to know the other agent on the listing side is essential. And it's certainly what I like to see from a buyer, or multiple buyers, when on the listing side. Glad to see Carol included this so that more can read it and learn!

Have a wonderful weekend!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California) about 3 years ago

Dorie Dillard Thanks for letting me know.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

Jeff Dowler Getting to know the other agent can really make a transaction go well. Thanks for sharing Carol Williams second chance. I will go check it out right now.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

Knowing the sellers needs can give you the edge - being able to offer something different like flexibility in closing, rent back or anything else the seller might value is worth working into the offer for sure. -Kasey

Posted by Kasey & John Boles, Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties (Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com) about 3 years ago

 

Kasey & John Boles You really understand the importance of finding out what the seller needs.

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) about 3 years ago

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