Offered by Greg Portlock
Over the last 2 months I’ve been addressing some of the ways I can create multiple offers for my clients. If you’ve read my previous articles, you know how much I believe in generating multiple offers. If the most important tool in negotiation is leverage it must be created and maintained through the entire contract process all the way to closing. For example, if you have a contract on your home and the buyer does an inspection they will most likely ask for a few things to be repaired, this is typical. If you had multiple offers, you can ask that they limit issues to items that effect health and safety as part of your acceptance of their contract, and if they get nitpicky then you know there are other offers to fall back on if needed. If you just accept the first offer that comes in, you wouldn’t have that leverage. Most sellers do not realize that sales contracts protect the buyer much more than the seller, and even though we are in a sellers’ market, the playing field still needs to be leveled I find that leverage is the best way to insure success for sellers.
A home that sells in hours does not necessarily appeal to me. Do not get me wrong, it is nice to have that kind of success, however, you have to wonder if the seller could have possibly gotten more from the sale if it was handled differently. I see homes going on the market on Wednesday, for example, and under contract the following day. If weekends are the busiest days for showings, why wouldn’t you put your home on the market then, and get the most activity? The reality is, if you put your home on the market Saturday that does not give buyers who set appointments for the weekend, a chance to see the home. Most of the websites buyers are using, don’t update for a couple of days anyways. So what is the best strategy?
What I’ve been doing with my clients for the last 5 years is putting their home on the market on Monday or Tuesday and start showings on Saturday, allowing all potential buyers enough time to see it on the internet and set the showings through their Realtor for the weekend. I believe this gives sellers the best potential to get multiple offers and confidence in knowing that they are accepting the best one for them. I know this seems easy in principle; however, over the last several years there have been problems to learn from. Some of these were appraisal issues, as well as how to keep buyers interested through the bidding process, without feeling like they are being strung along. It’s a very well thought out process.
I hope these articles have been informative, although, it only scratches the surface of a successful transaction. Getting to a smooth closing requires anticipation and attention to detail and when you hire a real estate agent, you don’t know for sure if they are the best choice for your situation. You have to go on a little bit of faith that they will make good on all the promises that are made. Market research shows an alarming distrust of real estate agents, but I can tell you that isn’t the case with the families I’ve represented over the past 23 years. By all means, interview several agents and hope I am one of them.
If you are thinking of selling now, or in the future, or you are on the fence, I welcome your calls and questions. I want to be your trusted real estate advisor and it all starts with that first phone call. I promise there is no an expectation of your business or trust, without me earning it first. This is how I’ve become a very trusted advisor to more than a thousand of your friends and neighbors.
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