Listen to Episode 2: How To Be The Winning Offer
Today we are chatting about how to be the winning offer in this crazy Spokane/ Cheney market (and let’s be honest, all over the United States)!
🎙 Agents Unfiltered is a podcast with the goal of connecting and building community between realtors nationwide. Get ready for some relatable and relevant information about “The Do’s, the Don’ts & the What The Fuck’s of Real Estate.”
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If you’re a realtor in this current market you know it is absolutely nuts. We are all working with buyers and fighting to get them a house and these are some tried and true tricks to not fail with offers.
The set up
Set your real estate clients up for success. Buyers know it is bad, but they don’t know HOW hard it can be. Set your buyer up by telling them to enjoy it, but don’t fall in love with it. It will take time before we win an offer. First time homebuyers can get so dejected during this process so make sure to let them know DON’T LET FEAR TAKE YOU FROM MAKING THAT FIRST OFFER.
You can even reach out to the other agent and ask where did we misstep so we didn’t get it and then you can go back to your client’s and let them know why they missed out and ask them if they would be willing to change their offer and if not then maybe you as the realtor need to change what type of house you are looking for for them.
I had a buyer recently that we lost out on a couple and then they changed their mind about how much they were willing to put down.
Let your buyers know to not judge the listing off the photos. It could be a really great house and the listing just has terrible photos. Looking at it may end up being worth it and they may have less competition as well. You can’t rule anything out in this market.
Change your expectations
Your first home is your equity home. It isn’t your forever home, but is taking steps to where you want to be. Your stater home is one of those steps. Sometimes when we get clients like those that think it has to check all these boxes, they get discouraged and just decide to wait until the market calms down (especially last year clients had a harder time offering 20-30k over asking) a lot of that comes down to education.
Educate your clients
Our market in Spokane and Cheney doesn’t look like it is slowing. I have been in this for a while; When I started interest rates were 6.5% (so higher than they have been the past 5 years). If they are buying at a lower interest rate it doesn’t matter if they are buying more. Don’t push clients into something they aren’t ready to do, but educate them. People are getting priced out of the market now and if they would have just purchased a few years ago they would be in a home, building equity, and not renting, and unfortunately they wanted to wait until it “calmed down”. We never want to come across as pushing them into anything, but knowledge is power and if we give them that and they still decide not to buy that is on them.
There will always be differing opinions in real estate, but HISTORICALLY it has never been a bad time to buy because we are always seeing inflation and increase in price and to build equity and wealth in this country, home ownership is the foot in the door.
Want to know how our office wins out?
We have a leg up because we have a relationship with other listing agents. We also know the proper way to structure the contract. If you want to hear more, listen to the rest of the episode!