Many buyers are getting frustrated with this seller’s market. They are tired of writing offers that aren’t getting accepted. Some buyers feel like they are making offers and everyone of them is not even being entertained. That is most likely not the case. Every listing agent must present all offers to the seller. Yes it is true that there is an acceptance deadline on offers. So if it is a good offer it will most likely have a short acceptance deadline. This might mean a buyer looks at a property and gets excited and finds out an offer on it was accepted that same day. That has been happening all around Denver and the front range for a couple years now. Although things have calmed a bit, if the home is under $500,000 we are still seeing it happen.
How to increase your odds of having an offer accepted
The first thing a buyer needs to accept is that it is a seller’s market. That means you don’t have a lot of room to low ball. That doesn’t mean your real estate broker should ever advise you to offer more than a home is worth. For one a buyer will have a hard time when it comes to appraisals and no one wants to start out in their new home with negative equity. There are sellers that are testing the market and putting home on the market that are way overpriced. Especially for sale by owners. They are so overpriced that no real estate agent will list them.
What a buyer needs to understand is that the price is only one line on a contract that is 25 pages long. Not saying price isn’t important but there are many other aspects of the contract that have a lot of weight. The listing broker, hopefully, explains this to the seller. A good buyer agent will be able to add good verbiage and incentives to the contract that will make your offer more appealing. Each broker has their own ways to make a contract stronger. Not to be disclosed here since it will give my competition ideas how to beat out my offers. If you would like me to explain how I get my buyer’s offers accepted you just need to give me a call.
Just remember when dealing with sellers they are just as willing to sell their home as you are to buy it. They have it on the market to sell. A strong offer is huge now. Don’t let the perfect home get away.
Orson Hill Realty Dan Skelly
30792 Southview Dr. #110 A
Evergreen, CO 80439