How to stand out in a sea of multiple offers
When multiple offers are similar in price, terms and conditions, it would be challenging for the Seller to choose which offer to accept.
Don’t underestimate the power of a personal letter
For my most recent short sale listing, we knew we’d receive multiple offers.
And when everyone looks alike, someone needs to stand out.
Based on prior multiple offer situations, I asked the agents to submit their best and highest offer because the Seller may not do multiple counter offers. I also asked them to include a personal letter from their buyers because it may boil down to whom the Seller likes to work with.
Surprisingly, among seven offers, only two submitted personal letters.
One offer stood out.
It included a heart felt personal letter from the buyer to the seller, in which she introduced herself. It helped that she was in the same profession as the seller. Best of all, she included pictures of herself on the deck of the seller's house along with members of her family whom took along when she viewed the property, plus pictures of her dog and cat cudding together. The seller also has a dog and cats, so this was a plus.
That personal touch clinched the deal.
Needless to say, this Buyer got the deal
Wait...there’s more!
It helped that her agent was also a seasoned short sale agent who guided her buyer to write that the Buyer will:
- Wait 90 days instead of the standard 45 days for short sale approval
- Contribute a certain amount towards lien payoff
- Open escrow upon acceptance and prior to receipt of short sale approval
Sell yourself!
When submitting an offer, consider it an interview. After all, you’re asking the seller why he should choose you and your buyer!
During the peak of the market, it became a standard practice to include personal letters/appeals from the buyers. Now that the m
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