Competition is hot among buyers in today’s market. Today we’d like to share a few tips on how to beat out other buyers by making a strong, stand-out offer.

 

Today we’re continuing our “Ask a Realtor” series with a look at the question, “What should buyers do to make their offers more attractive?”

To help cover this question, Jenna Meyerstein from Haney Garcia is joining us for today’s installment. 

Jenna’s first point was that in today’s hot seller’s market, multiple offer situations are incredibly common. It’s not out of the ordinary for a single listing to see more than a dozen offers. This is especially true for homes that are priced correctly. 

And, according to Jenna, one of the key elements to beating out the competition as a buyer is having a strong agent working on your behalf. If your agent can develop a sturdy rapport with the listing agent, you are already set up for a higher chance of success than other buyers. The right agent will also be proactive in negotiating and reaching out to other professionals as a representative of their clients’ best interests. 

The goal in a multiple offer situation is to stand out. If a listing truly resonates with you as a buyer, Jenna recommends expressing this explicitly to the seller in the form of a letter. Attaching this personal touch to your offer can go a long way in setting yourself apart from the competition. 

“One of the key elements to beating out the competition as a buyer is having a strong agent working on your behalf.”

For some sellers, it isn’t about the price. Many sellers want to know that the buyer of their property will love the home as much as they have. On top of that, sellers want to know that they can expect a smooth transaction. This is why, if you are able, it’s a good idea to present an offer with as few contingencies and as short a closing period as possible

Speaking of contingencies, here at Gold Star Mortgage we have a program called “Fast Pass,” which allows people thinking of buying in the next 30 to 120 days to get a full underwriting in that time. This program allows buyers to submit stronger offers when it comes time to strike a deal. 

If you have any additional questions for Jenna, feel free to give her a call at (916) 532-7867 or send her an email at jenna@jenna4homes.com.

And, as always, if you have any other questions or would like more information from us here at Gold Star, please reach out by phone or email. We look forward to hearing from you soon.