Whenever I represent a buyer, I write them several emails describing the current market and best strategies to get the home they want.
I realize that this is an enormous amount of information, spread out over several weeks and many conversations. So that people won't have to go through and review all these notes, now's a great time to recap all this info on one page:
Here's what you DON'T/CAN'T CONTROL:
*When they review offers/when they accept offers
*If you get a second chance to bid higher. no seller is required to give you a counteroffer
*How much other people are willing to offer and when
*How quickly you have to write an offer to stay competitive
*How much it will appraise for
*How much the bank will accept on short sales and REOs (foreclosures)
*When/if they will reduce the price
*When they will change their mind on price
*If the list price is an accurate reflection of market values or a bait and switch to bring in mass offers
*When and how long they are in negotiations with other offers and when they change status on MLS
*Their office hours, when they work, if they return calls or emails, if they will give any information and if that info is even accurate
Here's what you CAN CONTROL:
* The neighborhood you choose
* What your criteria is, and whether your criteria and price are realistic for the neighborhood you want
*The amount you offer
*How quickly you decide to write an offer
*How up to date you keep your financials
* Understanding that most people are all looking for the same thing: the nicest home in the best neighborhood for the lowest price
* Acknowledging that the lower your price range, the heavier the competition
* Recognizing that the lowball days are gone, and that even cash offers can be beat by a higher conventional offer
*Knowing that ALL houses will need some sort of repair or enhancement
Here's what is NOT IMPORTANT:
*How many days the home has been on the market
*If there are other offers (because one can come in at any moment)
*How much other offers are for (they are NOT allowed to tell and if they do, then once you submit your offer and the next guy calls in, they will reveal your $ to them and you'll get outbid)
Here's what's VERY IMPORTANT:
* How much YOU like the home
* Being willing to write your highest/best offer quickly
* Being realistic about price, neighborhood, amenities and expectations
* Being patient. You WILL end up with the right house, and the best house!
I will always:
*Send you homes according to your current criteria
*When you identify a home you want to see, I will always call/write (more than once) to attempt to obtain any possible helpful information
* Continue to network with large database of agents to find other/upcoming homes for you
*Write offers quickly and submit quickly
*Follow-up to ensure receipt
*Follow-up to see if other offers have fallen out of escrow.
Quit trying to get a deal, and get a house instead. The sale already happened. Be in it to win it!
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