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Hot Real Estate Market Strategies-Stating The Obvious

By
Real Estate Agent with The Virtual Real Estate Team 104556

It has been awhile since I made any offers on MLS listed properties but in 26 plus years I have so I want to state some obvious factors in getting offers accepted but maybe we do forget sometimes what is essential and basic so i want to state my three obvious ways of getting a seller to respond to an offer.

A Leveraged Reputation: I know that when I have been on the listing side if some REALTORS® I know have an offer then my senses become acute, why? The number one thing any agent should do is realize your reputation is everything. You have the air of success about you, you have a reputation for getting the job done and closed, you don't fool with half baked buyers, and you are know for your integrity, fairness, and expertise. I have taken lesser offers from this kind of leveraged agent because it is in my sellers best interest to have a contract bust and start over.

KISS: I have seen some strange terms and convoluted contract offers in my years and one thing I know for sure is that my seller does not want to get into weirdness. Sellers are simple folk, they want it clean, understandable, and easy to understand. They also just want to know how much they walk away with, and a complicated offer goes to the bottom of the pile. It also has a greater chance that a buyer will bust it on one of the may contingencies.

The Cavalry Approach: They once asked General Forrest, a Confederate cavalry officer what the best way to win the battle. Simple he said, Git thar firstest with the mostest. This may work as KISS also. You want it, don't hesitate. It's the right house, give them what they want with the highest price that makes financial sense. This isn't rocket science, it's Economics 101, the price must be right.

Bonus Caveat Emptor: Always remember it is not about you, nor is it about winning. It is about doing what is right for your client. Too often buyers get into an auction mentality and instead of getting the house of their dreams at a price that fits their budget, it becomes beating out the other people. Please do not subscribe to The Greater Fool Theory where you are trying to beat a foolish offer with an even more foolish one.

Kathy Streib
Cypress, TX
Home Stager/Redesign

Joe - I love this but my favorite has to be the Cavalry Approach.  Enjoy the rest of your visit. 

Apr 21, 2017 08:29 AM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Joe,

Here come the land contract & letter of intent ... Never settled one of those.

Apr 21, 2017 06:40 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Great advice, keep it simple and getter done!!

Apr 21, 2017 07:16 PM
Margaret Mitchell
Coldwell Banker Yorke Realty - York, ME
Seacoast Maine & NH Real Estate

Good morning Joe. Some very good points.  In particular, the leveraged reputation is not always well understood and really should be.  I have seen agents go in for the kill on the current deal with no thought to how that will affect them and their clients in the future.

Apr 22, 2017 04:06 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

Great advice Joe. Loved the line about buyers not liking weird . LOL

Apr 22, 2017 04:50 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

                                Thank you Joe Pryor 

Apr 22, 2017 05:11 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Joe Pryor ,

I'm so glad that Kathy Streib featured your post in her "Ah-Ha" moments for the week! Excellent post and I'm with you on the Calavary Approach....if you want it..make it happen!!

Apr 23, 2017 05:27 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post! I  can see why Kathy chose it this week! ... have a wonderful weekend!

Apr 23, 2017 07:18 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I wonder if clients realize how important their agent's reputation really is. No one wants to work with someone who makes life difficult, so their listings go to the bottom of the list, as do their offers.

Apr 23, 2017 08:51 AM
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-739-3843

Loved #4!! Thanks to Kathy Streib for the spotlight. I have always adhered to the KISS method and wrote a post about it forever ago.

Apr 23, 2017 12:22 PM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

All great suggestions, and keeping it simple and giving the buyer what they want goes a long way. totally agree, agents reputation goes a long way and some you want to work with as well.

Apr 23, 2017 05:08 PM
Beth Bromund
Coldwell Banker Weir Manuel - Rochester, MI
REALTOR (248) 651-3500

Love the cavalry approach, and your quotation. 

Apr 24, 2017 02:24 AM
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Great tips.  Interesting to use Civil War tactics to buy property, but the principal is the same. 

Apr 24, 2017 06:59 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Joe, good stuff here!  Thank you. I agree with KISS.  Sometimes,  I have to take a complex and convoluted offer and create a counter that unwinds that with simple, understandable language. 

Apr 24, 2017 10:05 AM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

There is no time for foolishness. To win, one must reach for the Calvary approach.

Apr 24, 2017 12:19 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Get there first with the best offer. That works more times than not. Thanks for the tips and also saying reputatio matters.

Apr 24, 2017 06:57 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much, Joe, for sharing your experience and your advice.

Apr 25, 2017 05:06 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

It's the same with investment property. Too many get caught up in the idea that the deal is too good to pass up. They pay more than they should and then it's no longer a good deal. Know what the real value is and buy based on that or move on. Thanks for the blog, Joe!

Apr 25, 2017 05:39 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

 Git thar firstest with the mostest  ...Love This !

Apr 25, 2017 05:57 AM
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

The basics should be obvious, but sometimes they aren't to all.  Simple, basic tips that work, I like it. -Kasey

Apr 29, 2017 08:36 AM