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January 2009
Index of all
messages
from the Association President
Six tips to help get your offer accepted
By Barb Cline, AAR President
It is tough to present the perfect offer to sellers – the one with the right price and terms to match the homeowner’s need – even in the best market. In a market like we are currently experiencing, it is even harder.
Here are some tips to get your offers accepted.
Tip 1: Prepare market research. Keep your sellers informed every four to six weeks with a new market analysis. This way they won’t be surprised by the changes in the market. Before you present an offer, make sure you run the comps for the past quarter so they can compare. Offers look much more reasonable to educated sellers.
Tip 2: Focus on the terms of the offer. When you present offers, do it in person and focus on the positive aspects of the offer. Concentrate on the terms rather than the price. Discuss with the seller the earnest money, the down payment, the closing date, the inclusions, the type of loan and the buyer’s ability to qualify for the proposed loan.
Tip 3: Get sellers ready for a worst-case scenario. If, from the outset, you have explained that most of the offers we are seeing today are well below the list price and you have gone over an estimated net proceeds sheet with this lower amount, then the sellers will not find a lowball offer as objectionable as if they were surprised with the numbers.
Tip 4: Focus on the seller’s motivation. When you listed the property, I am sure you found out why the sellers were moving. Remember this and remind them that although the offer may not be exactly what they were hoping for, it will allow them to be closer to the grandkids or move with the job or whatever motivates them.
Tip 5: Help the sellers justify the buyer’s offer. When an offer comes in, try to find out how the buyers arrived at that number; then check the MLS to see whether it can be substantiated. If you can understand the mentality of the buyers, perhaps you can explain it to the sellers more easily.
Tip 6: Keep your emotions out of the transaction! Remember that this is the seller’s decision – not yours. It is up to you to control your emotions; stay calm and you will be much more effective at helping the sellers control their emotions and make the best possible decision to reach their goals.
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