We all know how competitive the market is right now! Luckily, as real estate agents, this is good news, but it could make it hard for your clients to get their dream home. Here are some tips to help you and your clients win more offers!
TIps to Win More Offers
- Use an Escalation Clause
This is a great option in a multiple offer situation as it ensures that you have the highest offer. Typically, it requires that you pay $3,000 – $5,000 above the top offer. Be sure to discuss this with your client and their lender to make sure your client if financially capable of this. This sometimes doesn’t work with certain scenarios such as bank owned properties.
- Offer a larger deposit
Instead of offering just the traditional $1,000 deposit, offer that plus $4,000 after the inspection period. Or, better yet, (if your client is able) offer $5,000 from the beginning. It shows that your client is very serious about getting the property.
- Shorten the inspection period
Most inspection periods are 10 – 15 days, offer 7 if you can. Talk to the home inspector to verify that they can do it this quickly and let the listing agent know as soon as possible. Let the listing agent know that you’ve already spoken to the home inspector and you’ve set an appointment to get it done as quickly as possible. This shows that your client is aggressive (in a good way) and genuinely wants the property.
- Double-check your client’s pre-approval
Talk to your clients lender and verify that they are indeed pre-approved. Ask if there are any red flags or anything that may delay the transaction Once you get clear clarification from the lender, call the listing agent and let them know that your client is good to go and that there should be no hiccups in the process. Have the listing agent call the lender to discuss it as well. This shows that you and your client are very transparent, easy to work with and serious about getting the property.
- Advocate for your client
This piggy backs the above point. You’re there to protect your buyer and be their advocate. Inform the selling agent about how sincere your client is about purchasing their property.
- Bonus Tip
As real estate agents, we’re always thankful when we find an agent that is easy to work with, prompt and a great communicator. Be sure to turn in a complete package and return calls/texts and this will help the show that you are good at your job. Hopefully the listing agent will express this to their client and highlight the fact that there’s a better chance of a smooth & quick transaction with a real estate agent who knows what they’re doing.
These are pretty simple and easy to follow tips. Try incorporating them into your routine and start winning more offers!
At Dalton Wade we believe that today’s buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With our extensive knowledge and commitment to providing only the best and most timely information to our clients and agents, we are your go-to source for real estate industry insight and advice. Contact us today to learn more!