As a buyer’s agent, you, of course, represent the best interests of your clients. You understand that a seller is trying to make as much of a profit as possible in a home sale transaction. However, you want to be able to help your client get the most out of the investment as possible, as well. One of the things you will help your buyers do is to write real estate offers.
Keep in mind that a seller might get several offers at the same time. When this happens, it comes down to quality. A seller will pass right over an offer that is poorly written. On the other hand, a well-written offer will not only attract a seller’s attention, but it might also win a bidding war, too!
Real estate offers should not be vague
The first tip to helping buyers write a quality real estate offer is to instruct them to answer all questions in detail. A seller doesn’t want to have to hunt a buyer down to seek clarification about important information. For instance, if answering whether there are any contingencies to the offer, it would not be a good idea for a buyer to write “not at this time.“ It is a yes or no question.
The same goes for questions about moving day. If a buyer has been asked when they require the sellers to be out of the house, it is much too vague to answer, “whenever it is convenient for them.” If a buyer wants to be in the house by the last day of the month, then make sure that he or she states exactly that in the written offer.
Address the seller by name in the real estate offer
Always advise your buyers to begin their offer letter with the seller’s actual name, instead of using a template or form letter. Especially if there is a bid war going on, this is not the time for “To Whom It May Concern.” It establishes a personal connection when a buyer uses a seller’s name in the salutation of the offer letter.
Demonstrate interest in the home
If a seller has multiple offers to review, it is likely that one that resonates in a particular way will be bumped to the top of the stack. A buyer must convince the seller not only that the offer price is right but also that the house is perfect for him or her.
Tell your client to highlight his or her favorite features about the house in question. Let the seller know how the house is going to fit the buyer’s needs. If the buyer knows that the seller has made some special upgrades, it wouldn’t hurt to include a few compliments about it in the offer letter.
Make sure your buyers grant you the power to negotiate
Once your client has put a real estate offer in writing, ask for permission to negotiate on his or her behalf. Your skills might mean the difference between losing and winning a bid war. Of course, you would discuss any suggested changes with your client before agreeing to them with the seller. However, it is beneficial to your clients if they give you leeway to negotiate a deal.