Delivering Innovation

Whether you’re a home buyer or seller, one of the most exciting and stressful parts of the entire real estate process is negotiating an offer. Many of us have spent restless hours, or even a sleepless night, as an endless series of questions filled our minds: Will the price be attractive? Will the offer be accepted? Can we agree on the conditions? Will the deal go through?

While price is certainly an important factor, if not tea Important: factor that determines whether an offer is accepted or not, there are still a number of other considerations that play a role in the decision-making process. This is particularly true in cases where multiple offers are being considered. Deals aren’t just about price and how smart a buyer is when putting one together can make a difference.

Of course, having the right real estate professional to negotiate on your behalf is another important factor that could make a difference of thousands of dollars in your pocket, or even if the offer is accepted at all. Here are some points that can help improve your negotiating position:

  • Choose a sales professional with a proven track record of success. You will benefit from the experience of a representative who has already negotiated the sale of similar homes in the same area. Find out before hiring your chosen agent what kind of experience they have in a multiple offer situation, what the tactics are if negotiations get complicated

  • Be open, direct and completely frank with your sales representative. After all, they represent your best interests! To do it right, they will need to have a clear understanding of your needs, your goals and your limitations.

  • Make your offer as free of conditions as possible. There are many conditions that can be eliminated with a little advance planning. For example, if you pre-qualify for a mortgage, you won’t have to include a condition that gives you time to establish financing. This can be a very strong theme, especially in a multiple offer. Before writing an offer, depending on the situation, I will try to gather as much information as possible from the publicly traded agent. Asking questions that will later come as a benefit to my clients. Questions like what dates are your customers looking for? Have you already found a place to go? The more information you can find, the better it will prepare us to choose the most favorable offer before submitting it and getting it accepted.

  • Keep the terms of your offer as close to the listing as possible. Remember, all things in an offer have value. The closing date or certain exclusions may be of great importance to the seller, but not to you. The more your offer “reflects” on the list, the more attractive it will be. I like to devise an action plan for what I will do when an offer or multiple offers are presented to me. I recently made a deal where we received 10 offers on the property, there was clear and open communication with my sellers (clients) and I worked for their absolute best interest, we ended up with an offer of almost $ 40,000 above the list price.

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