Buyers: 4 Secret Ways to Beat Other Offers

To every thing, the songwriter says, there is a season. (Turn, turn, turn.) This Spring, the real estate market in many places seems to be thawing out of an extended winter straight into a hot market of buyer activity. The upshot for sellers is great: shorter times on the market, more certain sales and higher sale prices.

1. Offer more than asking (if the market data justifies it. It’s entirely possible that you’re shaking your fist right now, yelling something like: “You said these were ‘secret’ strategies!” Allow me to explain: offering more money *seems* like a super obvious way to beat out other offers, but you would be amazed at how many bargain-seeking, recession-trained and novice buyers simply don’t do it. Many think they’re scoring a deal by making low offers, even in the face of competition.

2. Max out and show off your close-ability. Yes: sellers care about getting top dollar for their homes, so offer price is the primary factor that makes or breaks your offer. However, sellers and their Realtors are uber-aware of the flip side of Essential Truth #1: a great deal that doesn’t close is no deal at all. They are also on high alert from the last few years of high contract cancellation rates, so sellers and listing Realtors will give top priority to offers that have both (a) strong prices and (b) a strong likelihood of closing.

3. Work with a well-respected Realtor and mortgage pro. If you’re house hunting in a desirable neighborhood, it can be advantageous to work with a Realtor who other Realtorsknow and love - or at least one they have heard of and respect.

4. Express your love for the home. I’ve written a lot about what I call the Seller Love Letter, a tool homeowners can use to ‘infect’ interested buyers with their own affection for the property. But here’s a tip from the last peak of the market: buyers can write love letters, too!

Buyers: what are other ways to beat out other competing buyer offers?

Randy BettInvestment Realtor/Author/Investor

Real Estate Professionals Inc.Better Group Real Estate 202-5403 Crowchild Trail NWCalgary, AB T3B 4Z1

Phone:403-774-7464 Ext:1Fax:403-208-0082Toll Free fax:888-711-6801

Randy Bett www.BetterGroupRealEstate.ca