What are things an agent can do to have our buyer clients offers stand out & get chosen in today’s market!?

Pay more for to the seller and add minimum restrictions on the seller. Cater to the seller if there are multiple offers.

Submit a clean and complete 1-4 contract, include all disclosures with your client’s/clients’ pre-approval not pre-qualification. Offer more than list price (make sure your clients can cover out of pocket appraisal shortage). Have your Buyer/Buyers pay for title policy, tentatively schedule inspection to reduce the number of Option Period days, and do ask Seller/Sellers for a home warranty (offer your client/clients a rebate to cover the home warranty).

Go above asking price, waive appraisal and pay for title I believe a re huge pluses

This is a GREAT question! Every seller has different needs, so the first step is to check with the listing agent to see what those needs are. Some need a fast close, some need a 60-day leaseback, some want absolute top dollar, etc. Then your job is to craft an offer that meets all those needs and then some (while still creating a win-win situation). It also depends on how motivated the buyer is to purchase that particular property. Sometimes it’s a “must-have” and sometimes it’s a “let’s see what happens” situation. Here are some additional things you can do to make an offer strong:

1. Try to be the first offer!
2. Make sure there are zero errors in the contract. We’ve seen some egregious errors on offers we’ve received and that immediately raises a red flag.
3. Offer more earnest money (2% instead of 1% for example)
4. Offer more option fee for a shorter option period (5 is good, 3 is better). We have received offers with NO option, but I would rarely suggest that to my buyers.
5. See if the buyer is willing to pay for title
6. See if the buyer is willing to pay for the survey (if there isn’t one or if it’s found to be invalid)
7. Do not ask for seller concessions
8. Do not ask for a home warranty
9. No contingencies, such as sale of buyers’ current home
10. Depending on comps, you can offer over asking price, but be careful. If you go too far over, your buyers are overpaying and listing agents/sellers may not take the offer seriously.
11. Partial waivers can be good, especially if the house is priced high. If the house is priced high, consider beefing up the earnest money and option fee, shorten option days, etc. instead of offering way above asking price.
12. Make sure the listing agent is aware of how strong your buyers are and encourage listing agent to reach out to the lender. Back up offers over the asking price and appraisal waivers with proof of funds, etc.

Hope this helps!

Hello JoAnne

Please keep your clients best interest in mind. Here are a few suggestions that will get the Sellers attention.

* Above list price offer. And not just a thousand or two but 5%-10%. Maybe even 15% above list. With this in mind...
* Use Appraisal Amendment and remove appraisal contingency. Remind Buyers they will need to make up any shortcomings on the appraisal in CASH. This will NOT work in FHA/VA financing as the government will not allow Buyers to waive the appraisal contingency
* Buyer to pay for owners title policy VS Seller which seems to be typical.
* AS-IS No option to terminate.
* Buyer to pay real estate commissions.
* Check in with the listing agent for other "hints" Maybe a lease back to the Sellers at NO CHARGE.
* Finally...A Seller "signing bonus". Buyer gives the Seller a check and says if they sign your offer the money is theirs. No ties. Just a bonus to them if they go forward with you. If your Buyer later walks or simply cannot close the Seller still keeps the money.
**** DO NOT provide a love letter. But do provide a cover letter detailing your offer as some of these details may be overlooked in the heat of the moment and multiple offers.

Mark McNitt
MarkKnowsHouston.com
832-567-4357
Bernstein Realty

Under Writer approval from Lender to stand out
Buyer pays Title policy
Short option or no option at all
5-10% offer over asking price
no appraisal contingencies if all possible

Best way is to turn them into a cash buyer using a company like Homeward.

Basically Don't Ask for anything make things more seller friendly in contract. keep the terms easy.

One of the important things that real estate agents is educate their clients about what is happening in today’s market. Now that we are experiencing the most unusual seller’s market is to encourage our clients to push a little bit forward that if they want to get the house they are looking for. There is no other way that offer more than the listing price to be competitive with other cash or overprice offers. Other approach would be not so demanding about house repair that are not so urgent, thinking that they would be than later once they get the property. Less OP and higher EM, no Home Warranty, will also help

Pay close attention to the Agents Remarks and offer instructions. Bring as much cash and cash equivalents to closing, such as higher earnest money, shorten days to close as much as possible, and communicate Buyer excitement with Listing Agent.

- be very communicative before showing & before and after you submit your offer.
- have your home inspector ready so you can do a shorter option period (shows initiative)
- when 1st submitting explain to your client the current market & emphasis the importance of "Putting Your Best Foot Forward" (this is not Deal or No Deal its a sellers market...bottom line)
- explain that cosmetic items can and most likely deture the sellers from your offer, as they are trying to sell asap (if they haven't fixed the cosmetic stuff they probably won't)
- explain to them "Let's 1st get under contract, then we have the option period to negotiate as well & an inspection report to explain our reasoning for negotiating"

Those are just a few that come to mind. Hope that helps!!

Shorten option period. I have been offering 3 days. My inspector goes out within 24 hours. If there are repairs to be done, you can extend option at that time.

Don’t ask for home warranty or seller concessions.

I have been offering to buyers to give back a portion of the option money to be credited to sellers.

Putting down more than 1% earnest money

Paying for Survey and title policy.

Under no circumstances do I say pass on inspection or do full waivers. My concern with film waivers is the difference the buyer may have to come out of pocket. Especially if they are a first time home buyer. They may not have that amount of money for the difference.

Great Question! I have listed some below.
-strong pre approval (ask the mortgage company for a conditional approval to show that your client is fully approved and that all they need is an accepted contract.
-fewer financing approval days (3-7)
-If the buyer can pay for the survey and title that would benefit
-The buyer can write a personal letter to the seller
-fewer option days

The very first thing I do is call the agent and ask what is the sellers motivation to sell, some sellers want to net the most or sell fast, I always prefer to ask so I know how to write my offer.

Offer more than asking price and show proof of funds or approval letter, keep request for repairs at minimal or not at all and be sure to communicate well with the selling agent. Hope this was helpful. :)

I think the most important aspect of this is to have a true sit down with your buyer clients. At this meeting be honest and thorough with the expectations of this market for the buyer. They need to have a clear understanding of what in involved with multiple offers.

An offer stood out on my last home because the buyer offered to split the title

On top of the comments already made, ask lender to contact listing agent to make sure he or she is aware of qualification (sometimes they are unable to reach lenders so it is better for lender to communicate with agent). Act fast even without seeing the home in person just make sure you look at google satellite map to check surroundings and look for pictures of the same house from a previous har listing. Drive the area too.

Suggest offering to pay for title policy and/ or additional earnest money would make the buyers offer more favorable to a seller. The least amount of days for an option period is also favorable.

Larger EM. Larger OF. Nonrefundable EM or OF. Shorter or no Option Period. Free Lease Back. Quick Closing. No HW. No Seller’s Contributions obviously. Cash. Appraisal Addendum is almost a must these days. BUYER pays title is a good one people over look. Giving your First Born can help too.

Pay title policy, hoa fees, home warranty, increase earnest money & option fee, waive appraisal, short or no option period. These are just a few that could help.

1.Make your offer as clean as possible with no contingencies. It should also be free of seller concessions, which are things that a buyer asks for outside of the offer price, such as help with closing costs.

2.Avoid asking for personal property.

3. Offer above asking price. Making an offer above the asking price won’t end up costing you much in the long run. What you put down and what you pay monthly on your mortgage will only change significantly if you offer an amount far above asking.

4.Put down higher earnest money. This shows the seller you are a serious buyer and genuine.

5. Waive the appraisal.

6. Higher option fee and fewer options days.

7. Offer a free lease back to the sellers.

Definitely a shorter option period. Sooner closing date. Buyer pays owner's title policy. Good communication with the listing agent. Bringing up a counter offer to the listing agent. Appraisal waivers. And unfortunately, cash and conventional buyers are usually chosen over fha buyers. (I however, have seen a cash deal take longer, and a conventional deal fall apart because they couldn't keep all of their "promises").

Suggest to your buyer client to Offer to pay title, waive the option period, waive an inspection and repairs. Take home as is & be ready to close within 15 days.

Cash offers and pre quals stand out.

No contingencies, short OP (as short as possible),appraisal “adjust”, no home warranty, buyer pay Title policy, closing ASAP, no seller contributions, communicate with seller agent...

No option period or
$100/day option fee
5-10% above asking
No home warranty
Buyer pays Title
Lease back if needed
Appraisal waiver or partial waiver

These terms can help the offer stand outs: Shorter OP, higher OP fee and EM, No Seller concession & home warranty from the Seller, buyer to pay for Survey and OTP, Quick closing (confirm with the lender before submit an offer), flexible closing date, No non-realty addendum, etc.... But make sure to discuss these terms before submit an offer.
Hope these would help. Good luck on the business!

Offer less contingencies to sellers, like less option period, appraisal partial or complete waiver, no home warranty, some buyers even offer to pay for Owners Title policy. Some sellers want to close early, so understand why they are selling if listing agent communicates