Top 5 Reasons your offer was not accepted - My offer was not accepted?

My offer was not accepted?

I've had several frustrated buyers ask me why their offers have not been accepted. These were not my buyers, but buyers that have written several offers with no success. My team and I have closed several hundred transactions over the last 6 years. As a team, we worked with short sale lenders on a daily basis. I can, without hesitation, state that my team can get offers accepted and buyers into homes with less hassle.

Top 5 reasons your offer was not accepted.

1. The house was already under contract. I recently had a real estate agent wanting to submit an offer on a home we had under contract. I've helped my buyers get some great homes that the MLS showed pending by asking to be in backup position. However, this was not the case; the agent in the scenario printed off the MLS sheets two days prior to showing the properties to their buyers. The agent failed to check availability.

2. You or your real estate agent did not prepare a strong, compelling letter on why the seller should accept your offer. This is not as important on foreclosed properties, BUT in a multiple counter offer situation this is a must. Make the sellers feel like they know you.

3. Your agent did not build rapport with the listing agent. 40% of the agents avoid talking to the listing agent. I don't understand this! Your agent's job is to get your offer accepted! When we represent our buyers, we work hard to understand the needs of the seller. What can make our buyers' offer stand above the rest?  "How long of an escrow does the seller want?" is a good question. It may reveal sellers motivation or lack of motivation. Listing agents love to present offers from agents that seem to understand the process and who have the sellers' best interests in mind. An escrow is not "wait 30 days and get your keys". It takes good agents with experience to keep deals together. 

4. You did not get pre-approved by a reputable lender. Unless you're paying cash, you'll need to get a mortgage. There are many lenders to choose from. As a listing agent, I like to see familiar names when reading pre-approvals. XYZinternet bank makes me nervous and makes my sellers even more nervous. Big banks add a level of comfort when presenting offers. 

5. You allowed your friend, co-worker or neighbor with a real estate license to handle the biggest purchase of your life! This is the MOST common reason your offer is not accepted. Notice the four previous reasons your offer was not accepted. The real estate agent you choose to work with makes a difference. The life of an escrow is tricky and due diligence is time consuming. Several negotiations happen during an escrow. It's crucial to have a competent agent get you successfully through escrow.

If you'd like to get your offers accepted contact Troy Huerta 760-420-5498 or click here to visit my team page. I'm a broker with more than 20 years experience; let my experience put you into a home. 

Troy Huerta BRE#01028204 / Broker Associate with Solutions Real Estate in Carlsbad CA. 92011