3 Innovative Ways to Get Your Buyer’s Offer Accepted – #TomFerryShow

August 11, 2020

We all know demand for properties is a little crazy right now.

Pocket listings, multiple offers, bidding wars, etc…

So even when you find that “dream house” for a buyer, there’s no guarantee they’ll get it.

And losing out is painful – for everyone involved.

That’s why I want to help make it more likely that you and your buyers emerge victorious and get your offers accepted.

Because here’s the thing: When you master this, everything gets better… More money in your pocket. More time to work with other people. Better perception in the eye of your clients who you helped find and secure their dream house. More referrals.

Let’s dive in…

Tip No. 1: Make It Personal

Anything you can do to humanize or differentiate your offer from others is a step in the right direction.

With that in mind, one of the first things you should do is reach out to the listing agent to try and find out if there’s anything special the seller is looking for or will respond to. Ask the question “What’s important to them?”

Now, not every listing agent will respond, but some will, and at least you made that effort.

You may also consider including a letter and/or photo providing some insight about your prospective buyers. All things being equal, sellers might be swayed by an emotional story or choosing someone who was at a similar stage in their lives to inhabit their cherished home.

Tugging at the sellers’ heartstrings might just do the trick to get your buyers stand out.

Tip No. 2: Offer Unique Benefits

Sometimes it takes some outside-the-box thinking to get two sides to agree on a negotiation. Make sure you’re exploring all your options and including any unique benefits your buyers can offer. (Within all laws and local regulations, of course.)

Such as:

Paying the seller’s taxes
Free “rent back” to give the sellers time to move on
Cover the seller’s moving costs
Pay the title fees

With a little brainstorming, I’m sure you can come up with additional benefits that won’t increase your buyer’s monthly payment and will give them the advantage.

Are you up to the task?

Tip No. 3: Maximize Your Buyer’s Price Ceiling

Getting offers accepted in today’s uber-competitive marketplace sometimes boils down to getting your buyers to increase their price more than they initially expected.

I like the “ladder up” approach to see where the actual breaking point is, and that’s a discussion you need to have.

Repeatedly ask this question to make that conversation easier:

“Are you willing to lose this house at $XXX,XXX?”

When they say no, ramp it up a little bit and ask it again.

Taking those “baby steps” can get your buyers to stretch a little further than they might have originally indicated to you, and ultimately, will give you more leverage to make a compelling offer.

I’d love to know what tips you’ve used effectively! Let me know in the comments below!