How do I get my offer accepted in this extreme Real Estate Market?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

With more Buyers than houses for sale in a lot of areas. Buyers are finding it hard to find available homes. They are finding it even harder to get an offer accepted. 

 

There are new home listing s hitting the market daily. There are offers being accepted. Despite that, many buyers can not get their offers accepted. Some are very frustrated. SO much, that some are asking "how I am getting my offers accepted?"

 

The secret is to write better offers. That is followed by "my buyer agent did." But did they? I list and sell just as many homes as a Listing agent. I want to tell you how many "not so good" offers I get when faced with getting 10 or even 20 offers in the first day or two of listing. The buyer is often left to ask why their offer was not accepted.

 

 

IN SUMMARY to get an offer accepted, you DO need to write better offers. That means including with the offer a pre approval for the buyer. That means the buyer should get pre qualifed and then take the next step to be pre approved. 

 

The next step is to HIRE THE BEST REALTOR as your buyer agent. All agents are not created equal. Who you hire does matter! Here in our area I am here and ready to help. Let me show you there is a difference. 

 

The next step is to move quick. When a new listing hits, go see it. Then be prepared to make your best offer up front.

 

There are many variables when it comes to looking for a home. Knowing what you want. What type of mortgage you are getting to how much you putting down. Then it moves to how manu CONTINGENCIES you ask for. The highest offer may not be the best if you ask for too much.

 

 

THE MORAL OF THE STORY is you as the buyer MUST know what each mean. How each step affects your offer and how it can get it accepted or rejected. The largest difference from agent to agent can be right here, That is in the agent standing by you through each step of the buying process. Communication is key.

 

For me, I want to provide GREAT SERVICE. I want to stand out from the crowd. My philosophy is simple. To provide more personal and professional service to guide my clients through each step of the selling and buying process.

 

All agents are not created equal and every consumer should take the time to hire the BEST not just the biggest agent. Let me show you there is a difference. Please Support locally owned and operated business.

 

Locally owned and operated since 1985.

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 35 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

Comments (28)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Those are great tips, Scott.  This is not the time to be low-balling offers!

Apr 07, 2021 05:12 PM
Scott Godzyk

Im shocked every new listingu at least one still comes in Myrl. Thanks for the comments

Apr 09, 2021 11:26 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!  

Apr 07, 2021 05:13 PM
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-801-5525

So true Scott, the appearance of a great high bid price can be minimized even cancelled out by overloading contingencies into the offer.

Apr 07, 2021 10:01 PM
Scott Godzyk

It sure can Kris. Thank you for the comment

Apr 09, 2021 11:26 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Oh the frustration of being a buyer in a seller's market.  Work with a full-time, local professonial and LISTEN to them.

Apr 07, 2021 10:31 PM
Sharon McAuliffe, GRI

Buyers who listen to their agents are key. I recently closed a sale with a first-time homebuyer who listened to me and beat 7 other offers on the first home she made an offer on. We used an escalation clause maxing out at $14,000 over list, and even then it came down to the repair limits and other contingencies. An overly generous (and unwarranted) appraisal that came in another $10,000 over sale price was icing on the cake!

Apr 08, 2021 08:05 PM
Scott Godzyk

Great advice Chris Ann, thank you for the comments

Apr 09, 2021 11:28 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Honestly, there are many good offers being written right now in our market. We have noticed the winning bids are always the highest bids with the least amount of contingencies. They also include an addendum that promises the buyer will increase the down payment in the event of a low appraisal.  We lost two this week despite a minimum of contingencies, 30K over asking price, and an offer to bring 15K increased down payment.  The buyers are fully vetted and the sellers agents each received communication from the lender stating the strength of the buyers. It didn't matter. The highest and most outrageous offer is winning. Outrageous meaning way over value and no inspections. 

Apr 08, 2021 08:15 AM
Brian L. Sirota, Esq.

Very instructive comment Debb!    

Apr 08, 2021 05:01 PM
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Hi Scott there is a skill to writing offers that escapes many agents.  I talked about this subject yesterday while teaching a ce course.  Many agents are frustrated with this crazy hot market and loosing offer after offer. If they listen and take heed of what experienced agents are teaching, they'll figure it out. Reaching out to the LA is also a very wise idea.  I prefer that agents call me up front and tell me about their clients and find out what works best for sellers. 

Apr 08, 2021 01:39 PM
Sharon McAuliffe, GRI

I prefer that agents call me up front and tell me about their clients and find out what works best for sellers." Great advice, Anna!

Apr 08, 2021 08:08 PM
Shannon Jones
The Shannon Jones Team - Long Beach, CA
Long Beach CA Real Estate

Great advice - buyers would be wise to hire the right agent and then follow their advice.

Apr 08, 2021 03:51 PM
Paddy Deighan MBA JD PhD
federalfinanciallawgroup.com - Vail, CO
Paddy Deighan J.D. Ph.D

Hainling from NJ originally, this is a dangerous question to poase as the answer may include references to Vinnie & Ralphie and baseball bats LOL LOL ...Hey...YOU....

Apr 08, 2021 06:34 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

This is not a typical seller's market that we have been seeing for some time. We are seeing buyers offering free rent-backs, waiving appraisals and offering to pay the difference between appraised value and purchase price, and of course making over-asking offers, sometimes substantially so. Some are waiving inspections. A well-done pre-approval is a must-have, and having the lender contact the listing agent to review the buyers' qualifications can help. Finding out what's really important to the seller up front can help, too.

Jeff

Apr 08, 2021 08:13 PM
Randal Jenkins
Coldwell Banker F I Gray and Sons Residential, Inc. - New Port Richey, FL

My brother and I both got deals on day 1 with financing.

His was where the buyers Mom lived 73 yards away from the subject property and the seller, though using a listing agent, picked the neighbors kid to buy it.

Mine was one where I called the listing agent and said "If I get you a full priced offer, will you get it signed today?"  He said he did not know.  I said, "How bout I get you $1000 over the asking price, you get it signed today?"  He said, I will work on that.  It was a Saturday and Saturday night, they sent back a counter, with some challenging items, but we took it anyway.  Especially after the listing agent had 10 more attempted showings on Sunday.  Listing agent admitted he messed up and should have waited until Monday.

Apr 09, 2021 07:50 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Such a timely article - neither helping buyers or finding sellers is easy right now.

Apr 09, 2021 08:56 AM
Greg Mona
West USA Realty - Scottsdale, AZ
Professional Real Estate Representation for YOU!

Hello, Scott. There is an old saying "Experience is the best teacher". In this red hot, multiple-offer market, the minimums to even have a shot at success as the buyer's agent are; a solid pre-qual from a reputable lender (no form letters, etc.), see the home right away, go in with your "highest and best" offer (in most cases) as you'll be blown out of the water otherwise, limit your requests to none or very few, if possible, make sure every applicable line on every document you submit is filled out correctly and anything you write out is succinct and unambiguous. Another tip is to CALL the listing agent! Find out what the seller's hot buttons are. In other words, what is their real motivation to sell? So many agents just submit an offer without ever contacting the listing agent or even to let them know they submitted an offer! None of the above guarantees success, but it's a great head start.

Apr 09, 2021 10:21 AM
Richard V. Foster, Esq.
Nevada Perfect Homes - Henderson, NV
Broker (58356) - ABR/M, CREN, CRS, GRI, RRG, SFR

Have your buyer's drft a letter to the seller telling the buyer's story. Make your clients more than a number. This has worked many a time for my clients over the years.

Apr 09, 2021 11:09 AM
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

I think it's a good thing to tell a buyer why they lost. BA's shouldn't keep that a secret. They should report back on price, not enough down payment, not soon enough closing date - something.

Apr 09, 2021 01:18 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

A buyer's agent today must be knowledgeable not only about properties, but about the offers that are getting accepted.

Apr 09, 2021 01:30 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

You make some good points but the fact is there are too many GOOD offers on just every listing.  That's what has happened with the past five listings I've had. Several very good offers, from reputable agents, with excellent terms. There is just so much demand right now...easy for buyers to get discouraged.

Apr 10, 2021 04:45 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Scott,  Thanks for sharing these great tips.  Many  buyers are asking - and you are right the bottom line is write a better offer by hiring the best person for the job - one who knows the local trends.

Apr 11, 2021 02:22 PM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

We're seeing some very crazy offers. Can it get much crazier?

Apr 12, 2021 09:04 AM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

Key takeaway: All agents are not created equal. 100%!! Want to write better offers?? 1st step is to read the MLS and offer instructions... Oh how many agents disregard the comments and agent to agent remarks and then wonder why they didn't get pick. 2nd step...call...with your phone...and use your voice to talk about your offer with the listing agent. These days you get texts and emails, but a voice will make your offer MUCH more appealing or give you the extra details you need to actaully get an offer accepted!

Apr 14, 2021 08:55 AM
Shannon Jones
The Shannon Jones Team - Long Beach, CA
Long Beach CA Real Estate

Such an important article for everyone to read. This is not an easy market for buyers!

Apr 14, 2021 03:19 PM