Tips to getting offers accepted
Tips to getting offers accepted by Shana. There’s many of them. People want to get them accepted, but we’re not sure exactly how. So we got a bunch of them. And did you know the first most important one is that you can ask to be present when the offer is presented.
We’re going to show all that stuff. We’re going to talk about deadlines, option fees, letters without violating fair housing. Yeah. And just kind of discuss it all.
But let’s talk about this because I don’t know that we’ve we’ve talked about this a couple of times. And, you know, Jean and I were talking over the weekend because she’s been working so hard with this one buyer to get an offer accepted and missing it by just slightly every time.
And she’s like, okay, this is it. I’ve got to get this one accepted. So we talked about some things, but here is something that I think could be interesting, right? So you the last NAR meeting of last year, they did vote in that you could be present, that the buyer’s agent can be present when the submission of offer is is presented to the seller by the listing agent.
So you can ask to be present, you can do it via zoom. That way, you know, your offer is accepted. Here’s what I’m hearing a lot of these presented or presented.
Yes, I’m hearing that a lot that I don’t know. I never get a response. I don’t even know if, you know, if they looked at it. Next thing I knew, it went to pending or it went to an under contract. So this is a way that I think from the get go that maybe you just ask, hey, could I be present when you know, I would like to be present when you present the offer to the seller.
So we have a link on that. We’re going to chat that link in and show it on the screen real quickly so we can discuss.
Could this be a real headache? Yes, for everyone involved. However, you know, I think it stuns people, throws them off. The other thing is that if that gets you and you’re like, oh, I don’t know about that one, then at the very least, you can request in writing to the listing agent that you get a written acknowledge back, acknowledgement back that your offer was presented, right?
So at the very least you have that option and that should make you feel a little bit better. And if you get something back, then you can share it with your buyer.
So they know at least it was accepted, right? Unless the seller says, no, I am not doing that. I’m telling you that this is the you know, this is how the offer process is going to work. And they give those clear instructions to their listing agent that nobody’s going to be present. I’m not sharing anything. I’m. I’m not even going to put a deadline, whatever they are in charge to determine what they want to do. So unless they do that, you have the right. But if they do, say the seller said no. Great.
Could you please send me that in writing? Now, the last thing we want to do is is to be that agent that people want to avoid because you’re you know, you’re causing all these uncomfortable situations. We don’t want to do that. However, you can choose wisely and depending on who you’re working with on the other side, this could be an option.
I’m just saying ask for it in writing, because remember you answer to your client, so they need to know that you’re aggressive and what you’re doing, right. So at the very least, request for the acknowledgment to be given to you in writing that it was presented.
I like that. And I’m actually for that, I would say go ahead and do it.
Try it. I challenge anyone to try it. It was kind of funny. We were talking about it, I think last week at agent agent meetings.
But can you imagine if somebody at you as a listing agent said, Hey, I want to be there, I just want to hear how you present my offer. It could be crazy. So a couple of other things that go against what the norm is is, you know, something that Jean and I were talking about is what if I set a deadline? So we know how that typically works. Okay. You’re setting a deadline. Really? We’re in the driver’s seat here.
We’re not even going to look at your offer. However, if you do it, if you craft it differently, for example, if you say, hey, you know, my buyer doesn’t want to be that buyer that’s putting offers all over the place. They are serious. They need a home. They love this home. But if we don’t hear back by this time, then they don’t want to miss the opportunity to go on another property.
So we are going to pull our offer. By this time. We’re giving you a super strong offer. Here’s our lender, here’s all of the things, right? But unfortunately, we’re on a time crunch. So if we don’t here by this time, you know how the market is. We’ve got to hop over here. They don’t want to be the person that’s doing that. You know, they have respect.
So you’re saying we’re only putting one offer in at a time, only one offering.
At a time in your clients actually looked at the home?
Yeah, I think that’s really least telling.
Communicating that like my persons actually looked at the home. Here’s some of their favorite features, right? Just showing that you’ve actually been sure. Because isn’t it annoying when the people haven’t even been to the property? You’re like.
Wow. And that was Jane’s situation. And Jean got her offer accepted, you guys, because Jean communicated with that other agent. She made a connection with the other agent, had great communication, and it worked out and this offered to get accepted. The other thing is my favorite is the back up offer. I think that it still goes under the radar. People are so frantic trying to find homes they don’t want to waste their time on the back up offer wrong. Many offers get accepted that way.
So you know, if your client missed out on it immediately, try to negotiate and work out a backup offer situation and you can do it where they’re not tying up all of their money. You can do minimal, you know, at backup acceptance. And then when it becomes.
A Position, first position, when it moves up, then you apply the remaining monies. So it’s not and.
I don’t know the percentage that’s falling out right now, but it’s more than ever.
It is. I would say it’s nearly 50%.
So I would I would say to we need to do a little research on that and get that. But in our immediate area, I’d like to to pull those numbers. Something else I was saying with that. Oh, here’s another thing that I thought of. So you see these homes that are in your search. I would include active option look and see when they expire. Right. So when is the option period over?
Maybe you can call that agent and say, hey, you know, maybe you haven’t seen it, but if you do your search and you’re looking at properties that are under contract, knowing that they fall out a large percentage of the time, then asked, Can I just pop in and see it myself? Video my client in hopes of submitting a backup offer and see how it goes right. And maybe you try it that way.
That’s interesting because that’s going to put pressure on the person that’s in first position, like, no, no, we had a new person because you’re coming in at a different time. Everyone came in and wants.
Right to see the property now. They felt like they had her in her contract. Something’s going on.
Something’s going on. And if you are coming in at a weird, unique time, I could totally see that. Working. That’s a really good idea.
So the other thing is our option periods. We all want our clients to have an option period. I think it’s just even on the receiving side, on the listing agent side, I think, you know, having that kind of benefits both sides. So when you do that from the buyer side, you know, the option fees are high, put your high option fee in and then just give that to the seller.
If we back out, that’s yours to keep. No problem. Even if you move forward, that’s yours to keep. So it gives them a little incentive there and a little extra. Right, that it’s basically like raising your your purchase price by just a little bit. Right.
That can make a difference. The other thing is whole numbers and this is kind of how my my brain works. I think a lot of people fall under that whole number. Every so often. We would get a client and they would want to do like some random number. Right? Just like 200,000, $735. You know what I mean?
Like something crazy. I think that how things fall on the whole number search that if you’re offering 50,000 over or 75,000, go that extra like, you know, 1200 dollars or 1300 dollars and just make it where it stands out just a little bit. It’s higher. So if they’re comparing apples to apples and they’re very close in comparison, that that is just that little bit that pushes them over the edge.
Wow, you covered a lot of really good items. I mean.
We just have to keep thinking about them, right? As the as the market is so competitive, we have to try to do things just a little different.
So yeah, and maybe identify Stacy in the process. It’s a little unique, but here’s, here’s the honest answer with it is everybody’s trying to sell something. So the lender is going to be kind of part of it, your relationship with your broker and who they are.
And, and, you know, if they’ve done past business or anything. Yeah. But also knowing that you have a full time person like Stacy on your side is going to also help you. So you can also throw that in like, no, I got a person on top of this on our side as well, and I think that that’s an added advantage. Anything you can kind of differentiate yourself?
Yeah. So I have a couple of things in the chat I just want to go through and Jean’s offer email. She requested a reply by a certain time and there was no best and final deadline. The agent didn’t respond and advertise later that she hadn’t read the email fully. What she just pretty much, I don’t know, violated a code of ethics right there and admitted to it.
Okay. Next, Rachel always prefers an option with high option fee. If they forego option, there’s always another loophole. They have no skin in the game. True? Yes. I always go a couple grand over where others will land. It’s funny. These aren’t hard things, you guys. But I don’t know. People just don’t.
Don’t do it about filling out the contract correctly. Well, that’s in full. Let’s be. I can’t even I can’t even tell you how poorly most realtors fill out a contract.
And that’s why we give you a contract you can actually sign.
Sometimes. I’m just saying, sometimes our real estate family might get a little defensive or anyone and say, I don’t need somebody checking my work. Right? I don’t need somebody looking over my contract. I know what I’m doing. Yes, you do. Or you wouldn’t be here. However, if we check and double check and help each other out, there might be we’re humans.
There might be something that we’ve missed that somebody else catches that could be, you know, I don’t know, a decision point there that makes or breaks our contract. So rely on each other, you guys. We’re all here for each other.
Just looking at it from a different perspective often will help. Yeah, that’s the idea there. Sure.
Yeah. And have you thought of this? So, yeah, just a couple of tips. If you guys have any, send me an email. We’ll continue to cover them.