Must-haves for winning a contract!

Blog Post Image
Real Estate

Must-haves for winning a contract: To maximize your client’s chance of success, as your agent, I need to make sure that every purchase process includes the following best practices.

• Clear communication: Keep the lines of communication open with all of the players in the negotiation process, including your clients, the listing agent, the lender and any other stakeholders.  In addition, while it is sometimes more convenient to send off a quick text or email, there are times when a phone call is a better choice. 

Awareness of seller priorities: Understanding what matters to the seller can help craft a winning offer, whether they are concerned about the timeline, unsure where they’re moving next or simply seeking additional reassurance about your buyer’s intentions.  It's best to contact the listing agent to get a sense of how to prioritize the elements of your offer.

Robust professional network: Similarly, the more you know — and the more agents you know — the better chance you have to build rapport and move the process forward.

Buyer love letters: While they haven’t yet been banned everywhere, buyer love letters appear to be on the way out. It's important to know your your brokerage’s position concerning these offer add-ons.

One-size-fits-all approaches:   Just because everyone in the market is waiving inspection or appraisal contingencies doesn’t mean that is the right approach for buyers.  For example; If you waive the financing contingency, can they pay the difference in cash at closing? If not, then they cannot waive the appraisal contingency. If they only have 5% to put down, and the appraisal is 5% low, then it’s ‘game over.’

Undermining the buyer’s position:  Most of all, it is vital to remember who your client is. If you are representing buyers, it is your job to help them make smart, informed decisions that work for them, not to make the deal at all costs.  In addition, you need to remember that everything you do — from the way you communicate (or don’t communicate) with the listing agent to the way that you present the offer — is a reflection on your client and can materially affect the outcome of the negotiation. As an agent we can either make or break the deal for our buyers.