It’s currently a tough real estate market for buyers. So here are three tips to help them win in a multiple-offer situation:
1. Have the client consultation upfront. Many real estate agents jump in the car to show a house before they’ve had a consultation with their buyer clients. Agents need to explain what the market’s like and set expectations. You need to ask if they have the cash to pay above the list price and appraised value, which is a situation we’re running into on almost every sale right now. You don’t want to keep writing offers, only to disappoint clients when they keep losing out on homes; they may get discouraged and stop looking.
“Agents need to explain what the market’s like and set expectations.”
2. Call the listing agent and ask about the seller’s needs. You need to ask what their ideal time to move is, will they need a leaseback, and what’s most crucial to them in an offer. Then you can write an offer that meets or exceeds those needs.
3. Check your paperwork before you send it. Make sure the paperwork is completely filled out and check the legal descriptions because they’re often wrong; the computer program you’re using won’t always fill those things in correctly. Ensure there aren’t a slew of mistakes and that the right boxes are checked. Until the seller signs the paperwork, other offers could come in, so you want everything complete and signable as soon as you send it.
If you have questions or I can assist you with any real estate needs, please feel free to give me a call or send an email. I would love to help you.