Do You Have an Offer Presentation Strategy?
Does your agent present your offer in the best possible way? Are you competing for homes and losing out? Are you wondering how to make your offer stand out from the crowd? Though there is no silver bullet, there are some things you can do that may help your offer get noticed. In today’s heated market, getting your offer accepted involves more than just the right price and terms. It involves strategy. And style.
Sellers, with the help of their agents, compare offers received. They look at the price and terms first and foremost, but they also look for a buyer who conveys a commitment to the property and to the process. Additionally, they may consider the Buyer’s agent. Is the agent knowledgeable? Reasonable? Easy to work with? Agents know each other and those who have earned the respect of their peers and who possess a “let’s work together” attitude, are more likely to get a win. A Seller’s agent often conveys their experience and working knowledge of a good Buyer’s agent. If a Seller’s agent knows that the agent on the other side is good to work with, it’s a good bet that the agent will convey this information to their Seller client who will in turn factor it into their selection decision.
The same holds true for lenders. A good lender is golden and agents typically know who is good at responding, following through, and closing. Is your lender local? Proactive? Attentive? Does he or she have a reputation for closing on time? If not, you may want to consider a different choice because a good loan officer makes a difference in the overall presentation of your offer and the Seller’s ultimate decision.
Tips for Getting Your Offer Accepted
Who you work with matters. Let me share a scenario with you based on true events:
A Seller is in receipt of multiple offers. Strong offers. The offers are very similar — over asking, with short time frames, and other terms favorable to the Seller. Two of the five offers stand out. Why? Because their agents stand out. Their offers and their cover letters are well-crafted. Stellar. But it’s more than that. It’s their style. Each agent possesses a style of communication that is clear and cooperative — one that speaks reasonableness and a willingness to work with the Seller and the Seller’s agent to arrive at a successful outcome for all parties. Both agents convey a positive attitude and a desire to work together for the benefit of all, but more importantly, both do it through direct conversation with the listing agent. Even in the age of technology, nothing beats direct, verbal dialogue and strong communication skills. Nothing.
So, does your agent pick up the phone to dialogue with the listing agent? Does your loan officer do the same? Is there a clear strategy for the offer presentation? And, what about style? Is your agent reputable, professional, and able to communicate clearly, convincingly and confidently? Strategy and style are both keys to a successful outcome, so make sure your agent and lender have the skill, time, talent, and style to present your offer in the best possible light.
As for the true story and the two strong contenders, one buyer got an accepted contract and the other is in the first backup position. Though there can only be one winning bid, both buyers are winners when it comes to their selection of an agent and a lender. Both were positioned well. Very well. The finesse, style, and competence of their team made all the difference in being top contenders and is no doubt a guarantee for their future success.
Simply put, strategy + style = success.