Congratulations, Your offer was NOT the highest, but it's been accepted

Mortgage and Lending with Julie Chroust, Senior Loan Officer Bay Equity LLC NMLS #249458

I write this blog today to share with you a wonderful experience.

I have recently met a wonderful Realtor in my area who was referred to me by another one of my Realtor partners.  We have just started to get to know one another and I told her that I work much different than most lenders and she will get to see these differences first-hand when we start working together.  I asked her what she feels are her biggest challenges in today's market... her reply, "my buyers are feeling a bit frustrated by always being out bid on properties and especially FHA buyers are having the hardest time".  My reply?  "There are two things I do that WILL help..... When you make an offer, let me customize the buyer's pre-approval letter around that offer, in addition please cc me on the email to the listing agent when you send your offer".  She looked at me a little puzzled as to why I wanted to be cc'd on the offer. 

So here is what happened:

When I got the email that contained the offer, I let 10 minutes pass by and then gave the listing agent a call.  He didn't pick up the phone, so I left a detailed message, "Hello Justin, this is Julie Chroust with XYZ in Walnut Creek.  I'm following up on an offer that was sent to you about 10 minutes ago by Joanne Smith @ Keller Williams in Walnut Creek for Owen & Courtney Jones on your Hills Road listing.  I wanted to let you know that I have a complete file with verified assets, income and DU approval, and we are just waiting for an accepted offer.  These buyers are very strong and motivated.  Should there be any questions that you or your seller need answered, please do not hesitate to call me, my number is 925-381-1481.  I will also follow up with an email". 

I followed up with an email letting him know about my team at Prospect Mortgage and my relationship with the buyer's agent.

I received a reply from the listing agent a few hours later and he did have some questions for me, which I quickly responded to.

The next day, Joanne calls me and says, "guess what!!!! Owen & Courtney's offer was accepted!  AND, I have something else to tell you.... the listing agent said that Owen & Courtney's offer was NOT the highest offer, but the seller's accepted their offer because of you as their lender!!!!  The listing agent also said, he has NEVER received a phone call (not to mention a follow up email) from a lender during "this" stage of the process and was very impressed at how involved you are in the process.  He told his clients that the highest offer is not always the best offer, the best offer is one that closes on time with a highly efficient team".

Hooray for the seller to see this wisdom!

Joanne said to me, "YOU ARE MY SECRET WEAPON"!!!

                                                                                                     Names (except mine) have been altered for privacy reasons


Comments (17)

Peggy Hughes/pha logistix, inc.
pha logistix inc - San Francisco, CA

Well... there you go. Going above and beyond will net you a preferred referral souce for a very long time!  Good for you, Julie!!

Oct 27, 2012 10:34 AM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Julie:  What an awesome story you have shared with us.  It really IS all about the team.  Your involvement and follow-up with this Realtor, her buyer, and the Listing Agent made this happen, as you well know.  What a great effort.  I am guessing if your business is not booming already, it soon will be.  Again... great job!

By the way... I just love the wording you used in the message you left for the other Realtor.

Oct 27, 2012 10:36 AM
Julie Chroust
Julie Chroust, Senior Loan Officer Bay Equity LLC - Walnut Creek, CA
(925) 381-1481
Thank you Peggy, Buyers need every advantage they can get right now, and i'm happy to help!
Oct 27, 2012 10:37 AM
Julie Chroust
Julie Chroust, Senior Loan Officer Bay Equity LLC - Walnut Creek, CA
(925) 381-1481
Thank you Karen... I truly enjoy my realtor partners and their buyers. When you work with like-minded people the process flows smoothly and the buyer experiences a seamless team unit.
Oct 27, 2012 10:40 AM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

By the way, Julie... I have bookmarked this post, and the next time I hear of someone in your area who could use your services, I will certainly email this post to them.  What geographical areas do you work in?

Also... I have just subscribed to your blog.  I invite you to subscribe to mine.

Oct 27, 2012 10:44 AM
Sarah Rummage
Benchmark Realty LLC, Nashville TN 615.516.5233 - Nashville, TN
Love Being Realtor® in the Nashville TN Area!

Great idea!

I might be spooked the first time I got a call from a lender 10 minutes after receiving an offer, but I think I would get over it, and tell the seller that this buyer is approved to buy! :)

Sarah in Nashville 

Oct 27, 2012 10:47 AM
Julie Chroust
Julie Chroust, Senior Loan Officer Bay Equity LLC - Walnut Creek, CA
(925) 381-1481
Hi Karen, That is such a compliment, thank you so much! And, yes, I will certainty subscribe to your blog as well! I am licensed in California and mainly focus in Contra Costa and Alameda counties. I often get many referrals for Southern California too. So basically, if the property is located in California, I can help just the same.
Oct 27, 2012 10:48 AM
Aaron Smith
Keller Williams Advisors - Edgewood, KY
Northern Kentucky Agent & Investor
This is an awesome story and I plan to send this to every lender that I've worked with as we'll as those I currently work with. Most lenders wouldn't even do this if you asked nicely.
Oct 27, 2012 09:15 PM
monte mohr
The Mohr Group at RE/MAX Elite - Brentwood, TN

Great article Julie, thanks for sharing this story

Oct 27, 2012 11:25 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Julie, customizing the pre-approval letter to the offer is a very good approach. This alone should carry a lot of weight with the seller. Your follow up with the agent also shows the credibility of the buyer. Good Job!

Oct 27, 2012 11:56 PM
Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

Julie, Fantastic!  Your follow up gave strength to the buyer's offer. And I am sure it was quite refreshing to the listing agent, as many times you can njot reach the lender, and they take their sweet time calling back

Oct 28, 2012 03:32 AM
Jon Karlen
Finish Line Realty - Louisville Ky Real Estate - Metropolitan Service Area - Louisville, KY
Louisville Kentucky real estate - Metro Area

Congratulations! Thats got to make you feel good.  :)  People sometimes forget that theres more than just numbers in play on deals, and that there are real people, not just a computer - and you have to take that into account.

Oct 28, 2012 04:40 AM
John Juarez
The Medford Real Estate Team - Fremont, CA



Thank you so much for sharing your strategy for setting yourself, your cooperating Realtor and the buyer apart from the crowd. You lent great credibility to the offer and may well have obtained acceptance for an offer that otherwise may have been another loser.



Oct 28, 2012 04:56 AM
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX

My lender did this earlier in the summer.  My buyer, after getting outbid on several homes, had made a full price offer.  When we submitted our offer on the home, the lender called the listing agent and gave her alll the details of pre approval.  There were 3 other offers on the table, but they took ours based on the fact that our lender was pro-active!  

Oct 28, 2012 05:17 AM
Bryan Robertson
Los Altos, CA

That's an impressive level of care and definitely goes beyond what I see with the vast majority of mortgage brokers.  Your clients should consider themselves very lucky to have you on their team.


Oct 28, 2012 08:04 AM
Gay E. Rosen
Julia B. Fee Sotheby's International Realty - Larchmont, NY
As Real as Real Estate Gets!

Julie-  what a strong and compelling presentation. Something like that makes a whole world of difference. You  re special.

Oct 29, 2012 02:46 AM
Spectrum Inspection Group
Spectrum Inspection Group - Las Vegas, NV

Julie, that's excellent!  I have never seen a lender do that either!  Great job!

Oct 29, 2012 03:55 AM