Every home owner hopes that their real estate agent will help them get multiple offers when they sell their home or property. But on the other side of that equation is the stress and anxiety that buyers experience as they lose bid after bid. It’s easy to grow frustrated when you constantly lose homes you’ve fallen in love with – especially if you don’t know what you can do to make your offers more attractive than the others.
Top real estate agents know that there are no guaranteed formulas for winning every bid, but there are proven strategies to help you create more compelling offers that are more likely to win over sellers. The first step in a competitive housing market is to secure your finances in advance. Sellers favour offers that have no financial conditions – be sure to get pre-qualified in advance to avoid being eliminated immediately. Coupling that with a strong offer that includes a larger deposit is sure to position you as a top contender.
Next, consider whether or not to waive the house inspection. This is a tricky point, as not everyone is comfortable with buying a house without one. Sellers like offers that may not fall through, and an offer without a home inspection may be the winning detail. Whatever you choose, make sure that it’s something you’re comfortable with – you don’t want to have any regrets.
Finally, ask your real estate team to find out everything they can about the seller. Why are they selling? What are they really looking for? Perhaps a shorter closing is what they really need. Or maybe it’s the opposite – perhaps they want an offer with a longer close so that they can buy a new home after selling? Determining what is most important to the seller can be the key advantage when multiple offers are present.