Can you even believe we are back to this point? I know there were complaints a while ago that there were no buyers, but now that the buyers are back....how do you get their offer accepted? We see some agents are writing offers considerably over asking price, but with appraisals coming in lower than the list price, that only works for cash offers where the buyer doesn't mind over-paying for a home. That's not a good idea either.
But these homes are selling. So buyers are getting their offers accepted. These are some of the techniques I've been using.
First and foremost.....Real Estate is a business of people. The protocol of Real Estate is well-known, but commonly being ignored. I wonder how anxious a buyer would be to work with an agent who doesn't even pick up the phone to let the listing agent know they are sending an offer. Is this too much work to do for a client? Are they afraid of hearing the home is gone......do they just not care? When I receive an offer by email without at least a voicemail.....I make sure my sellers know it. It's always the sellers' decision, but I try and explain that an offer is only good if it closes, and not to look just at price....but also the agent and the buyer. A faxed or emailed offer from a faceless agent is not necessarily a good idea.
So how do you promote your client and yourself? How do you reassure a listing agent and seller that you can close this deal and that your buyers are serious?
Pick up the phone first....and often. It's not just the call to say you are sending something, but also the ones after to make sure they have everything they need. What did they think? Find out what the agent sees as problems and overcome them. I always have my lender contact the agent....regardless of whether they use my lender or their own, I have the lender initiate a call to discuss the credit worthiness of the buyer and establish their own credibility as a lender. It's important to show this offer comes with a team of professionals.
This doesn't work every time....but I can count many times where the agent has recommended my buyer because they believe that I can get the escrow closed. They trust that they will be able to reach me and that I'll be responsive to the situation. We can demonstrate this by simple contact and follow-through. It's not just price that gets the deal anymore.
I don't think we have that problem in Seattle yet... There are Lots of houses here sitting on the market that aren't selling.....