Getting Your Offer Accepted In Today’s Market
I have written multiple offers on properties and I cannot seem to get an offer accepted. Is my agent the problem?
It depends. In today’s market, where inventory is so low, it is challenging, at best, to get an offer accepted. There are anywhere between 10-27 offers being submitted, on many properties, the first day they are listed. With only one house to sell, one family will get a home and the other 9-26 will keep looking. The most I’ve heard so far is about someone who wrote 27 offers before making a purchase. It is probably not the agent’s fault. However, there are things the agent can do to ensure a solid offer is written, as well as things you, as a buyer, can do to make sure you offer the strongest terms possible.
First of all, don’t nickel and dime the seller to death. Pay for your own termite inspection. It’s less than $100. You can also pay for your own home warranty, which will cost $350-$450, depending on the size of the property. With the current competition, a “low ball” offer will not accomplish your goal. Of course, if the property is listed too high, your agent should advise you accordingly. In addition, make sure you have chosen an agent who is well connected in the real estate community. Sometimes it’s a matter of working with a listing agent who will give you first rights on a property before it is marketed to the public. A full-time professional is important in this market and he/she should be willing to write letters to homeowners in the areas of your search asking if they have considered selling, and then follow up with a knock on the door.
Becky Sill is a local real estate coach. You can reach her at (661) 373-3875