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Secrets to Winning in Multiple Offer Situations
Nine Negotiating Strategies Used by America’s Top Agents to Get Their Client’s Offers Considered First
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Cleve Gaddis Master Coach, Workman Success Systems (25%). $300-$500k
Team Leader – Gaddis Partners, RE/MAX Center (55%). Host Call Cleve Atlanta Real Estate Show on NewsTalk 1160 AM. Atlanta, GA. Married with four daughters.
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At the End
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Real Estate Sale JANET - Buyer Agent Us Seller Agent Them
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Give Directions Pinpoint the destination. What type of market?
Give step-by-step directions for success in multiple-offer situations. Either follow directions or don’t…their choice. Who to blame?
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Type of Market Seller’s Market: <4 month supply
Balanced Market: 4-5 month supply Buyer’s Market: >5 month supply
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9 C’s Confidence Communication Convenience Connect Clean Cherish Comps
Champion Cap
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Confidence Increased Earnest Money Proof of Funds
Full Mortgage Approval Strong Pre-Approval
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Confidence No unnecessary contingencies.
Don’t ask for the seller to contribute toward closing costs. “As Is” offer. Option money.
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Communication Talk to the Listing/Seller’s Agent.
Find out what’s important to the seller…and the agent.
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Convenience Allow the seller to stay in the home a few days after closing. Work within the seller’s timeframe. Anything else important to the seller?
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Comps List price has nothing to do with value.
Know values in the area. Might be listed low to attract multiple offers. Over list might still be a good value.
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Clean Don’t include unnecessary requests for home warranties, termite bonds, personal property, etc. Ask for what you really need, but don’t overwhelm the seller. If possible, don’t include a contingency for the sale or lease of other property.
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Cherish Personal letter Short video
All the reasons buyers love the home.
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Connect Set proper expectations. There will be counteroffers.
Look for points of AGREEMENT and tell stories when you cannot agree. Back-up contracts can be a good idea.
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Cap (moveable) Use an escalation clause, if appropriate.
Special Stipulation State form or document. Have an attorney review.
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9 C’s Confidence Communication Convenience Connect Clean Cherish Comps
Champion Cap
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Sellers Multiple Offer Options: Reject all. Pick one and counter.
Highest and best - open. Highest and best w/suggested minimums. Multiple counteroffers.
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WorkmanSuccess.com/RESR
Cleve Gaddis Workman Success Systems & Gaddis Partners, RE/MAX Center Downloads: WorkmanSuccess.com/RESR
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