Rules for Writing Your Offer and Getting That House for Your Buyer in a Seller’s Market
Act Fast – Get the offer in right away and advise your buyers to respond quickly to seller’s counters.
Raise the Price (Within Reason) – Obviously you don’t want your buyer to pay more than they need to pay; however, in a seller’s market they may need to step up or lose multiple offer after multiple offer. Make a counteroffer the buyers will be ok with if they get the house or they don’t. I call this the “No Regrets price.”
Increase the Earnest Money Deposit – The amount of money buyers put down can sometimes trump higher offers.
Demonstrate Patience About Taking Possession – Allowing the seller flexibility could help your buyers’ offer stand out.
Let Go of a Few Contingencies – With Care – Reduce the number of contingencies buyers are asking for. Giving the seller reassurance that the deal will likely close can carry more weight than price sometimes.
Ask for Fewer or No Concessions – Concessions effectively lower the seller’s net proceeds.
Have Buyers Pick Up the Cost of the Home Warranty if the Seller is Including One- The plan that covers the cost of repairing major home appliances and systems, within a certain period.
Know When to Walk Away – When negotiating with a seller, trust your gut. If your buyers don’t want to make any more trade-offs – and the seller won’t budge – it’s smart to walk. Sometimes the deal just can not be made.
Negotiating is tough and draining. Losing something you’ve worked hard for can be disappointing, but there’s always another deal for your buyers. After the frustration passes, you’ll realize, “Now I know how to do this.”