Crafting a strategy prior to writing an offer is essential in today’s market.

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

Writing an offer correctly is essential to getting the deal done.Every buyer is different. And every buyer has different needs, wants, and expectations when it comes to purchasing real estate.

So when it’s time to write an offer, it is very important to craft a strategy that addresses each client’s individual preferences.

The first question I ask the buyer before beginning is this:

“Is it more important to you that you get this house or that you get a great deal?”

The reason that I start with this question is that I am putting the buyer on notice that I will respect their wishes regarding the offer, but there may be consequences resulting from “going for broke.”

Because if they really want the house, the first offer must be strong enough to deter the seller from seeking additional offers from competing buyers.  Sellers will generally negotiate in good faith with reasonable offers in an effort to quickly achieve a mutually acceptable agreement.

But if the buyer truly wants to “get a deal,” then I make them immediately aware that they are risking losing the house to another buyer. The important thing is to let the buyer know that they probably won’t be able to “steal” the house and it may be very difficult to repair any burned bridges.

I have seen many buyers lose great houses that are tremendous bargains for less that a $50 per month difference in the mortgage payment. In many cases they wind up settling for less later on or they give up their home search completely.

And it’s sad to see a lost opportunity, and to ponder on what might have been.

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Re-Bloggged 3 times:

Re-Blogged By Re-Blogged At
  1. Ryan Case 09/23/2010 11:06 AM
  2. Brian & Marie Spray 09/23/2010 11:08 AM
  3. Nancy Milton Holtzscher 09/23/2010 04:00 PM
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Topic:
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Comments 42 New Comment

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Rainmaker
929,189
Gary L. Waters, Broker Owner Waters Realty of Brevard, LLC
Personal Service, always.
Waters Realty of Brevard, LLC

Excellent points. You must know where you want to end up. Besides, getting a good deal is better than losing a great deal!

September 24, 2010 08:20 AM
Rainmaker
258,618
Bill Travis
Broker/Owner
Captain Bill Realty, LLC

Some buyers are just focused on getting a house at "their" price, and could care less about the small amount extra on the mortgage payment. They just want to win in the negotiation so they can tout how they negotiated such a great deal

September 24, 2010 09:33 AM
Rainer
35,754
Manuel Monserrate

Richard, I think that question "“Is it more important to you that you get this house or that you get a great deal?” should become part of any buyer's interview, as it will definitely dictate the direction they go in.  With so many buyers approaching the process with no real thought of what they want, this could definitely get them started thinking of their goals in the first place.  

September 24, 2010 10:11 AM
Rainmaker
50,376
Angela Bond
Los Angeles Real Estate | 310 666 5052
Keller Williams Realty

Buyers can tend to become fixated on "how much they got off the asking price" - rather than recognizing a good fair deal is beneficial to everyone and especially themselves in the long run.  Finding that perfect home isn't always easy and I wouldn't let a few dollars a month more stand in the way of myself and my dream home.

September 24, 2010 05:39 PM
Rainmaker
171,719
Claude Labbe
DC, MD, VA - Your Busy Life
Real Living

Great way to pose the question.

However, it also is a good way for me to evaluate the buyer.  if the answer is "a great deal", that can be fine.  Now if the answer is really "the deal of the century", then I need to consider if this relationship is one I can commit to.

September 26, 2010 01:29 AM
Anonymous
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Richard Weisser Coweta Newnan Homes for Sale
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Additional Information

Author Bio: Richard Weisser is a Georgia real estate broker, licensed auctioneer, and has been writing about Georgia Real Estate since 1999.

Coweta Fayette Real Estate offers opinions and helpful information to consumers and real estate professionals in the Coweta County Georgia area.

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