How to Get Your Contracts Accepted
There have been several articles written on this topic I’m sure, but here’s my take on the subject.
Know your Market - Learn the closest, most recent, pending sale price and offer closer to that number. Chances are the listing agent knows the neighborhood well enough to know where pending sales are headed. And if not, then you should. That is, call on the pending sales to learn where the prices are headed. Sure listing agents won’t tell you the actual sale price, if the property isn’t closed, but you could ask some key questions. How about, “Did it sell for list price?” “Did it sell for more than list price?” “How many offers did 
you have?” Usually if you keep asking you’ll get some indication of where the sale went.
And the old adage of being the stronger agent is a bunch of bull. Why start off on a negative connotation. No one wins in that situation. As my mom always said, "If you don't have anything nice to say, don't say anything at all!"
State Your Case - Discuss why your client wants the home. If it’s an REO, then this isn’t as relevant, but with other sales - you bet. Whether it’s a personal note or a telephone conversation, keep the listing agent on the phone. If they’re busy, apologize for keeping them on the phone, but explain why your buyer wants the home. Sometimes key information can be related that might help your buyer.
Case in Point - One of the REO’s my buyer was able to be the top cash bidder that I’m currently working (33 offers) remembered me from another sale 2 years ago because it was a smooth transaction. That makes me feel absolutely awesome. That’s how I want to be remembered.
Play Nice - Whether it’s schmoozing the listing agent, creating a crystal perfect contract, adding details for the listing agent that they usually have to complete, it’s all good. Just be the most congenial, helpful agent on behalf of your buyers. This works especially well with Short Sale Negotiators and REO Agents. They are all overworked and a kind word never hurts.
Tonight while reviewing 4 offers on my short sale listing I had to wonder. If one of the offers that was financed (and less than $1500 apart from the higher cash offer) even asked what I needed to get his client the house, I would have told her. But she never asked. Sometimes you have to ask for the purchase. You have to do everything possible to get your contract accepted. After all, our market is full of buyers and our Single Family Homes are 10,296 as of NOW in a town of 4 million people. Now that’s competition!
Getting your contract accepted in a competitive market isn’t easy. But practicing good negotiating skills, using due diligence, and being on top of your market will win more purchases for your buyers.
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