Mondays Are For Negotiating
Rarely does a Realtor get a Monday off. Today’s no exception. Negotiating contracts can happen on any given day, though lately it seems more prevalent than ever to take place at the top of the week. Sellers tend to put their listings in the market around Tuesday, showings start by the weekend. Offers, highest and best, due on Sunday.
Following some late night conversations or early morning agreements, a client can be under contract on their dream home about this time of day. Over the weekend, I had a chance to assist clients making the move to the area from Minnesota. The semi-unique attribute of these clients, its parents moving to be closer to their adult children and grandchildren.
Winning The Bidding War with Not the Highest Or Best Offer
What I liked about this client family was we managed to win a multiple offer scenario with not the highest or best offer. Err, yeah, I wrote that correctly. Our offer wasn’t 100% cash nor did waive a ton of provisions. And it wasn’t the highest priced offer by several percent. And yet we won the negotiation process. Some of this has to do with understanding the Seller and Listing Agent.
For instance, during a phone call to the listing agent, I learned the Seller was going to review each offer as it arrived. Sometimes, a seller will instead request all the offers to be presented simultaneously.
Rather than competing against five or ten offers, we were really only up against one over offer that arrived late after we had submitted ours.
So, getting our offer presented fast was a priority. And we achieved that goal. I also gleamed a little bit of information about the seller that we used to our advantage. Turns out, the seller’s mom had lived in the house. That’s awfully similar to our situation – the parents wanting to be closer to their adult children. So I had the adult children write a heartfelt note.
Notes can really make an impact on Sellers. Not everyone is going to be impacted by a note. But I have witnessed, time and again, that a sweet note from one party to the other really can impact decisions. Notes make it all more personable. And people love to sell to people they like.
For instance, a year or two ago, my Sellers received five offers for their home. The best offer had almost no objection deadlines. The buyer was willing to waive the appraisal as it was a cash deal. But this wasn’t — to my chagrin — the offer the seller accepted. Instead, they took the offer with a really touching letter from the buyer to seller. That offer even required the sale of another house.
The truth is, a personal letter can have a huge impact. So I frequently suggest this strategy, or one of shooting a video (another great way to connect with the Seller).
Of course, all the little things matter not if you don’t write a solid, clean offer with quick deadlines and take the time to assist clients in understanding the buying process. You can well imagine that the competition in Boulder is at a whole different level than quiet Minnesota. So, like I say, Mondays are busy days. Give me a shout if I can busy for you on a Monday successfully negotiating an offer on your dream home. ~ Bob