We know it can be very frustrating as a buyer to get your offer accepted in a competitive market because there are so many other buyers and offers in competition—However, using the right strategies can make all the difference. Here are three ways to make your offer look more appealing to sellers:
1. Send a video, not a letter. You may have heard that many buyers are submitting a letter to the seller along with their offer. That’s great, but 93% of all communication comes through tone and energy, so take it a step further; either you or your real estate agent can shoot a video of you and your family—preferably in front of the home you want to buy. Tell them a bit about you, your family, what your story is, and what that particular home has that you’ve been looking for. This will connect with the seller, pull at their heartstrings, and set you apart from the crowd.
2. Find out what’s important to the seller. Have your agent call the listing agent and find out precisely what’s most important to the seller. What are their main motivations? Some buyers will assume that a shorter escrow is more attractive, when oftentimes, sellers are looking for a longer escrow. Whatever the case may be, find out what they need so you can write it into your offer. Give them fewer reasons to counter your offer.
3. Add an escalation clause. Write in your offer that you’re willing to spend $1,000 (or however much you’re comfortable with) more than the highest offer. If the seller comes back and says that the highest offer is much more than you’re comfortable spending, you don’t have to accept that. You’re not obligated to move forward with that transaction. However, an escalation clause puts the ball back in your court; you make the decision.
If we can do anything to help you with your real estate goals, we’re always here to support you. Call or email us if you have any questions. We would love to help.