Competing against multiple offers isn’t an ideal situation. However, there are plenty of ways to help your offer stand out.
Over the course of my career, I’ve come to realize that there are certain strategies that are more effective than others when it comes to dealing with multiple offer situations. If you’re a buyer, you want to be sure you’re putting your best foot forward.
Here are my seven tips for helping your offer stand out among the crowd:
1. Get pre-approved.
2. Know what your plans are for the home, whether it's to own it long-term or flip it in a year or two.
3. Put down the maximum amount possible. If cash is an option, it’s always going to be appealing to the seller. If you’re not a cash buyer, being able to put at least 20% down is very important.
4. Align yourself with the needs of the seller. Find out what those needs are; they don’t always have to do with money.
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5. Know what the market will bear for a particular home.
Find out what the seller’s needs are and align yourself with them.
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6. Know your agent’s reputation. Oftentimes, the buyer’s agent is taking into consideration who the seller’s agent is and may prefer your agent over another buyer’s.
7. Personalize your offer. Go past the contract terms and give your offer other ways to stand out.
These are the things that I’ve really seen help buyers out in our market. It’s all about putting your best foot forward when making an offer, and this list will help you do that. If you have any questions for me in the meantime, give me a call or send me an email. I look forward to hearing from you.
