6 Tried & Trusted Tips to Make Your Home Offer Stand Out
So, you’ve found your dream home. It’s in your budget, beautiful and…very in demand with other buyers. Don’t panic, we’ve enlisted the help of local Coldwell Banker Preferred affiliated agents to share their top tips for making your offer stand out, so you can land your perfect place. Here’s the six tips they swear by:
Score a great agent.
Where do you start? “Align yourself with a knowledgeable agent who will represent you in the most favorable light,” says Coldwell Banker Preferred Wilmington affiliated agent Sandra Lamprecht. “This includes reaching out to the seller’s agent (prior to the offer) to discover any tidbits of information about the seller and their motivating forces, and sharing the reasons why you would make such a strong buyer.” Why? Lamprecht says, “additional communication with the selling agent also shows the opposing side that the buyer’s agent is knowledgeable and engaged—which could indicate to the seller that the transaction may go smoother than with an agent who is absent.”
“In a fast-paced competitive market, being prepared is critical,” says Exton affiliated agent, Lori Grier. “Know what you want and can afford.” According to Media affiliated agent Christa Fiorelli, you should also “go over comparable sales in the neighborhood while you’re shopping so you’ll feel comfortable when it’s time to make an offer.” Last but certainly not least— “Get pre-approved by a reputable local lender,” says Conshohocken affiliated agent, Noelle Stinson. “It will allow you to act fast and be appealing to sellers.”
Don’t low-ball your offer.
The biggest mistake real estate agents see buyers making time and time again? “Making their initial offer too low with the thought they’ll have time to negotiate up later, especially in a competitive market,” says Fiorelli. “This could insult the seller and cause them to accept another offer that’s more serious and has fair terms.” To determine how much you’re willing to offer, think about how much the home means to you. “Once you know how much you value the home, you can successfully navigate the home buying process,” says Grier.
Never play games.
“Some buyers get wrapped up in the idea of “winning the negotiations” and don’t spend enough time focusing on what is actually important—at what price and under which circumstances is this the right home for them,” says Lamprecht. “I’ve seen buyers forgo inspections and/or appraisal contingencies to make their offer more attractive to the seller, which works, but not without a cost—like running into a leaking roof, dysfunctional furnace or other nasty surprises down the line.”
Add personal touches.
As clichéd as it sounds, writing a letter does work according to the agents. “Selling a home is an emotional process and writing a letter allows you to forge a personal connection with the seller and make your offer stand out in a sea of other documents,” says Grier. “When the seller knows that you love their home as much as they did, it helps you connect with them on a more personal level and not just on a financial one.” You can also enlist your real estate agent to butter them up a bit, as well. “Have your agent hand deliver your offer with your initial deposit check to the listing agent directly,” says Fiorelli. “Meeting the other agent before negotiations usually leads to a much smoother transaction.”
“In a competitive area, look at the home as soon as it hits the market and be prepared to make the offer quickly—like that day,” says Stinson. “A lot of times, a buyer may be able to overstep their competition simply by being able to act quickly,” says Lamprecht. “By preparing themselves, the buyer is exposed to many opportunities they otherwise might miss out on.”
Ready to make your move? For more information about buying or selling a home in the communities of the Greater Philadelphia area and the Delaware Valley, visit Coldwell Banker Preferred online.This is a paid partnership between Coldwell Banker Preferred and Philadelphia Magazine's City/Studio