Negotiating an Offer in a Hot Market- What You Need to Know

The real estate market is hotter than ever before.  Home prices are starting to cool a bit but there is still a large pool of buyers on the sidelines.  With demand still so high and inventory at historically low levels sellers still feel like they hold all the cards. 

How do you get your offer to the front of the line?  Sellers will typically find offers more attractive when they include the following:

 

  1. A FAIR OFFER - asking price or above, up to your comfortable budget 
  2. A QUICK CLOSING - time frame ideally is 30-45 days
  3. INSPECTION PERIOD - 5 to 7 days
  4. CASH BUYER or FULLY APPROVED financing letter from your bank

These are the most important terms of an offer, but a highly skilled Realtor will also have additional strategies based on evaluating the buyer’s and seller’s needs and identifying possible leverage in negotiations. 

Additional Strategies I Have Had Success With
One strategy is to build rapport with the listing agent by making a phone call and making an introduction. Being professional and courteous is the best first impression. I like to share your personal story on why you you’re moving, why you love the house, or your plans for a career. This creates a personal connection with the seller and the listing agent. As a listing agent myself, I like to work with agents who are likeable and buyers that will love the house. Another strategy is present the offer in a very easy to read summary of terms. This shows your agent is organized, and it will likely be an easy transaction. Having 100% confidence in the lender is another strategy to use when going against cash. If you can guarantee an easy transaction and closing, then sellers might lean towards your offer even over cash.

You must go with your best offer in this market and **BE READY** with your financing or purchase funds ready to go. I call this going “all-in”. If you love a property and it’s everything you want, then going “all-in” is your best offer.

Are you ready to go?  I know these strategies work because I use them all the time and I can usually get an offer accepted on the first try.  I have an excellent record of success and look forward to continuing that success with you as you begin your journey.  Let’s talk soon.

Cheers!

Kristin Vincelli
The Rollerblading Realtor
727-686-1596
Kristin@BeachwiseRealEstate.com

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