Winning in Multiple Offer Situations

Winning in Multiple Offer Situations

Brittney Barr

The Marc Gup Real Estate Group

Keller Williams Realty

Winning in multiple offer situations. Buying and selling and home can be a very emotional experience. For the seller, a house holds emotional ties and memories. For a buyer, the home buying process can be much like a roller coaster. In searching for homes this past summer a few of my buyers found themselves on this rollercoaster. One in particular, looked at 12 homes and put 3 different offers in. Each time we put an offer in we found ourselves in a multiple offer situation. We put in an offer and the roller coaster begins with excitement and nervousness. Then, we find out we were outbid or in back-up positions…the big let-down. As a Realtor, in that kind of a market I realized we would have to be creative, especially when my buyer’s funds were tight and we stretched as much as we could. While getting creative might mean waiving inspections or financing contingencies, an article researched in the Wall Street Journal by Kamping-Carder (2018)

Get Creative

found “penning a letter came in a close third, increasing a buyer’s odds by 52.2%” (p. M7). So, we got creative and attached a written letter by the buyers themselves of why they wanted this particular home and what it would mean for their family. We sent this letter attached to the offer for the sellers. Once again, we were in a multiple offer situation. The sellers responded and although we might not have been the highest offer, we were the accepted offer! Remember, I said selling a house was an emotional experience for the seller as well. “The letter is another tool to increase the seller’s confidence… and assuring him or her the home will be cared for” (Kamping-Carder, 2018, p. M7). Get creative and negotiate the best offer for your buyers!

Sources:

Kamping-Carder, L. (2018, January 19). Want the House? Write a Letter. The Wall Street Journal, pp. M7- M8.

 The Marc Gup Real Estate Group

Keller Williams Realty

207.232.6127

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