Is Your Offer Dressed for Success?

By
Real Estate Agent with Solutions Real Estate CA DRE #01490977

How to Dress Your Offer for Success

 

In our competitive sellers market, with multiple offers common, you need every advantage possible to improve your chances of being the successful offer.

 

Of course there can only be 1 buyer who will come out on top, and there are many factors that can impact who this is…on the buyer side, of course, but it might also depend on what the seller’s hot buttons are.

 

Dress for SuccessWHY DRESS AN OFFER FOR SUCCESS?

Dressing your offer for success is essential, to compete effectively.

 

Some offers we see these days are in pretty rough shape and you don’t want to be one of those!

 

Offers that are sloppy, incomplete, or have mistakes will convey a bad impression to the listing agent and seller – not a situation you want to be in as a buyer competing for a house you really want!

 

Appearances CAN make a big difference, and you want your offer to look its best, rather than have the other agent and/or seller have concerns about working with you based on a bad first impression.

 

buyer and buyer agent work togetherWHO DRESSES THE OFFER?

Part of that responsibility is the buyer’s, with certain decisions that must be made in consultation with the buyer agent, about price, closing date, terms and conditions, appliances, and time frames for inspections.

 

And part of the responsibility is the agent who puts together the offer and communication to the listing agent. It definitely has to be a team effort.

 

It goes without saying that if the details of your offer are not competitive there is nothing that’s going to make your offer more appealing to the seller no matter how complete or well-presented the offer may be.

 

At the same time putting a great offer forward, with favorable price, terms and conditions, in a sloppy manner won’t make a good impression either. And that could lead to concerns by the listing agent and seller there could be trouble ahead with carelessness or other issues.

 

HOW TO DRESS YOUR OFFER FOR SUCCESS

We know first impressions make a difference, and it’s probably no less true when writing an offer! The basics of getting your offer dressed well are pretty simple - the paperwork must be complete, with all the necessary information filled in, no mistakes, and appropriate dates, signatures, and initials.

 

price is a big issue in an offerMaking the best possible offer based on list price is essential (but of course buyer and agent should discuss the strategy based on financial, market conditions and other considerations), as there may not be a second chance when there are multiple offers. And any terms and conditions should be as clean and clearly laid out as possible. Asking for too much may not be competitive. Sorta like adding the wrong accessories to your outfit!

 

Another important step, and a professional courtesy, is to let the listing agent know, via text, email or call, when the offer has been sent. Many seem to not do this…why IS that? Sometimes technology fails and you could be wrong if you only assume the offer was received and don’t verify!! Or the agent may be tied up in appointments and not be checking email.

 

communicating onlineOTHER THINGS TO HELP DRESS YOUR OFFER!

You should ask for confirmation of receipt in your communication, but I always follow-up in short order with a call, email and/or text to confirm receipt if I don’t hear anything back!! Some are just not good at confirming (I bet you have heard THIS before – “oh, sorry, yes I got it”), even when asked, sometimes more than once.

 

As part of dressing the offer properly I like to send a detailed email as an introduction to the agent, and summarize what is included in the attached paperwork (price, important terms and conditions, pre-approval, POF, all offer paperwork and agency documents, and anything that might be requested by the listing agent, such as a signed addendum to the offer). I might spell out the closing time frame and elaborate there is flexibility, if that’s a key selling point and my buyer client wants to emphasize this in the offer.

 

I also clarify other issues that were discussed with the listing agent prior to offer submission (a good thing to do) if needed, or remind them of matters that were reviewed.

 

Lastly, you probably would not go out the door partially dressed, right? So you certainly don’t want to submit an offer without a current and complete pre-approval letter.

 

And including Proof of Funds (POF) is a good idea, and essential in the case of a cash offer.

 

Is your next offer going to be well dressed?

Or a slob?

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Sally K. & David L. Hanson 03/07/2019 05:50 AM
Topic:
Real Estate Best Practices
Groups:
Certified Residential Specialists
SAN DIEGO Real Estate Agents & Loan Officers
Buyer Information - What Buyers Need to Know in Today's Market
Advice for Buyers
San Diego Realtors®
Tags:
offers
home buying tips
how to make a good offer

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Rainmaker
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James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Jeff.

Man you really nailed this one.  Congratulations on the feature

Mar 08, 2019 12:52 AM #28
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Enough said...

Mar 08, 2019 06:36 AM #29
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Jeff, You hit this one out of the park. I have to totally agree with Richie above. "Enough Said..."

Mar 08, 2019 07:20 AM #30
Rainmaker
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Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Jeff Dowler, CRS - All the while I was reading your post, I was nodding and agreeing. I was hoping it would be featured and was happy to see AR got it right! This is a great blog post to be featured!!!

Congratulations. 

Mar 08, 2019 08:11 AM #31
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Good points Carolyn Roland-Historic Homes For Sale In Delaware and S. Chester County PA . Although one still has to fill in the blank with good information...especially that price, closing date and so on.

I remember having to fill out paper forms years ago - they were in triplicate. Such a nuisance.

Jeff

Mar 08, 2019 08:38 AM #32
Rainmaker
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Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

What a good post Jeff Dowler, CRS filled with information buyers need to know and understand.

Mar 08, 2019 08:49 AM #33
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Hi Tom Bailey 

Thanks for stopping by. This is a great example about how local real estate can be. I haven't seen a written offer in years! And everyone uses Docusign or someting similar.

Jeff

Mar 08, 2019 08:52 AM #34
Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

 Congratulations on the feature!   THIS IS SUCH A GREAT WAY TO EXPLAIN THE IMPORTANCE OF PUTTING YOUR BEST FOOT FORWARD TO BUYERS! 

Mar 09, 2019 05:29 AM #35
Rainmaker
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Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

A different take on dress for success!  When I get an offer that looks sloppy, isn't written correctly, doesn't have the corresponding pre approval letter or support docs--that tells me a lot about the agent on the other side

Mar 09, 2019 09:50 AM #36
Rainmaker
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Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

Phenomenal title - Wish I had thought of it, lol, and the post is just as good!

Mar 09, 2019 04:10 PM #37
Rainmaker
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Marney Kirk
Cummings & Co. Realtors - Towson, MD
Towson, Maryland Real Estate

Jeff, this is a terrific post - it is very important for people to understand how to dress an offer for success!

Mar 09, 2019 05:40 PM #38
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Hi Laura Cerrano  - That would certainly brighten things up a bit!

Jeff

Mar 10, 2019 06:10 PM #39
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Thanks for the kind words, James Dray !

Thank you Richie Alan Naggar  Great photo - Australia?

Jeff

Mar 10, 2019 06:12 PM #40
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Jerry Newman  Thanks for stopping by and for the compliment! Much appreciated.

Jeff

Mar 10, 2019 06:13 PM #41
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Hi Patricia Feager, MBA, CRS, GRI,MRP 

I'm glad you felt it worthy, and found yourself nodding your head. Guess I lucked out with the feature!

Jeff

Mar 10, 2019 06:14 PM #42
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Nick Vandekar, 610-203-4543 

If  buyer is going to make an offer it might as well be done appropriately, with our help. Not all are!

Jeff

Mar 10, 2019 06:15 PM #43
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Thanks Lise Howe  It's a pretty important topic, even more so when competing with others.

Jeff

Mar 10, 2019 06:17 PM #44
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Hi Mary Hutchison, SRES, ABR  Well you hate to make assumptions, but when the offer is badly done that sends a pretty powerful message.

Jeff

Mar 10, 2019 06:19 PM #45
Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

As I said. I am going to share this with my clients so they are ready to put their best foot forward

Mar 11, 2019 05:35 AM #46
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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And no doubt you will help them do so as needed Lise Howe . Thanks again!

Jeff

Mar 11, 2019 10:14 PM #47
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