I am going to the escalator

By
Real Estate Agent with Atlanta Communities 303302

Because of this crazy sellers market where multiple offers for the property within hours has become the norm, I have had to resort to new tactics for my buyers. Most new contracts I write have what is called an escalation clause. This does not require the seller to install an escalator in their home, although that would be kinda cool. What it does is it raises the buyers offer price by a set amount each time a new offer is received above our offer price, up to a set limit.

Another new tactic, which by the way I very much dislike, is making offers on several home at one time. This improves the buyers odds on getting a home. If they end up with more than one offer accepted, they pick their favorite, and we terminate the rest. 

While this market has been great for selling homes, I really do wish for the market to re-balance so we don't have to jump through so many hoops just to get a deal done.

To learn more about ways to improve your odds in this market, give us a call.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

Comments (4)

Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

What a clever idea using an escalator to illustrate the escalation Clause.  Happy Monday. A

Mar 15, 2021 02:27 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Peter - good luck to you and your buyers as they navigate these challenging times in real estate.  

Mar 15, 2021 03:15 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Peter- Back in 2004 I remember bidding on a home in Northern VA. There were 8 other bids and the one with the escalation clause won. 

Mar 15, 2021 06:43 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

This is a frustrating time for buyers. I'm looking forward to a more balanced market as well.

Mar 16, 2021 06:01 AM