RE: Winning The Bid In Multiple Offer Season
It's April 1st and the season is officially upon us. Multiple offer season in the metro Denver real estate market! If you think submitting an offer and just keeping your fingers crossed is all it takes, I hate to be the bearer of bad news but you are not correct. It takes a solid strategy and a great agent. Also, just a tidbit: It doesn't always just come down to the highest price. I've traditionally worked with a lot more home buyers than home sellers so I have some great experience in getting offers accepted ranging in purchase price from $125k-$700k. Here are a few highlights of my strategy...
1. Professionalism and communication are the two (2) largest key points. When I have worked with sellers, it is a huge turnoff when an agent submits an offer with zero communication prior to submitting or after submitting. It does the client a disservice by not talking with the sellers agent about the sellers motivations, needs, wants, etc. Without fail, I have ALWAYS called the sellers agent before submitting an offer to find out how I can tailor it to fit their desires. Even if we can't agree to everything they mention, at least I have chatted with the agent to start building rapport and showing that I'm a professional agent dedicated to making the process smooth for all parties involved.
2. A strong "cover letter" has also been very helpful and beneficial. When a sellers agent gets multiple offers in a short period of time, it's nice to see the highlights of the offer before even opening the document. When a sellers agent gets an email saying "here is our offer, thanks", it's obvious they didn't take time to really "sell" their client to the agent to set them apart from the others.
3. Follow Up! This is another simple but crucial item. Show the enthusiasm and dedication! If an offer is sent with no follow up, do you think those potential buyers are excited? They might be but yet have an agent who is lazy. That might sound rude but it's true. Again, it's doing a disservice for the client. I have won numerous multiple offer situations due to my persistent and dedicated follow up.
Those three (3) are the absolute top points and it boils down to having a desire to provide your client with the best service possible!!!
A few additional highlights that certainly help: - Working with the agent's preferred lender who they have a trusted relationship with. Having the lender call the sellers agent on behalf of the buyers after submitting the offer. - Outlining that buyers will only ask for health and safety issues from the inspection. We are in a sellers market so if you ask for cosmetic items, they will be turned down anyways, so you might as well show you're motivated from the beginning. - Take note of what is inside the house that really makes it perfect for the buyer(s) and relay that to the sellers agent. If the sellers agent is good, they will relay it to their client and almost every seller wants a buyer to love the home they had.
If you are looking for a dedicated agent who has a proven strategy for winning bids in multiple offer season, please give me a call! I would be honored to go to work for you!