Five Ways to Get Your Purchase Offer Accepted: Tips for Real Estate Agents

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With a shrinking housing inventory, competition among buyers for well priced homes is high and sellers are often receiving multiple purchase offers. In this educational article, Samuel Scott Financial Group explain the Top 5 Ways an Agent can get their buyer's Offer Accepted.

Including a heart felt letter with an offer will appeal to sellers on a personal level. It will help your clients stand out from investors who are only looking for a profit.

With a shrinking housing inventory, competition among buyers for well priced homes is high and sellers are often receiving multiple purchase offers. So how can a buyer's agent help their client put together an offer that stands out?

Here are the Top 5 Ways an Agent can get their Client's Offer Accepted:

#1. Offer a Larger Good Faith Earnest Deposit

Most agents advise their buyers to submit an offer to a seller with a 1% Good Faith Earnest Deposit. This deposit can be used towards the down payment, closing costs or other components of their home financing. It's important to remember that you have 17 days to remove this financing contingency and have all of the money returned to the buyer without penalty.

Knowing that this money is safe (it will either be returned, or applied to the home financing), we encourage buyers to stand out from the competition by putting down a 3% deposit. Let's say your client wants to purchase a $400,000 home; rather than including a $4000 deposit, show that your offer is very serious with a $12,000 deposit.

#2. Present an Offer that is Easy on the Eyes

If you want your offer to be accepted (or even read!), be sure to present it in a clean and easy-to-read format. This will instantly make your offer more appealing to a seller's agent who has to read through stacks of paperwork.

One of the biggest mistakes agents make when submitting an offer is failing to make it perfectly legible. Messy handwriting and faxed documents are harder to read and lead to confusion. Stand out by typing your offer and making an appointment to drop it off in person. This will ensure that the seller's agents receives a perfect copy of the offer and will give you the opportunity to review it with them in person.

#3. Win Over Sellers with a Heart Felt Letter

In addition to standing out as a serious buyer, it's important to stand out as a person. Sellers who are considering multiple offers are looking at a lot of paperwork and numbers - this approach focuses on a much more human approach.

Try including a heart felt letter written to the sellers with your next offer. Help your buyers write about their life and what being able to purchase a new home could mean for them. When competing against all cash offers from anonymous investors, a personal story can make all the difference. Most people would prefer to sell their home to someone who truly wants to live there, appreciates the home and will take care of it. Really want to stand out? Include a photo so the sellers can actually see who it is that wants to purchase their home.

#4. Package your Offer Like a Pro

To get an offer accepted, an agent needs to make sellers feel confident about their professionalism and ability to meet deadlines. Make your first impression a strong one by starting off your offer with a cover letter.

Keep it simple. Just include a brief introduction about your intentions to help your clients purchase this home, then go into your personal bio. Make it very clear to the sellers and the seller's agent that you are a professional. Highlight your experience and reliability. Provide all of your contact information and let them know how easy you will be to reach and work with through out the entire transaction.

#5. Remember that Personal Contact Matters

The Mortgage Advisors at Samuel Scott are prepared to go above and beyond to help the buyers they represent get an offer accepted. We've found that by making a personal call to the seller's agent we are able to reinforce the strength of our buyer's ability to purchase the home.

Our Advisors will let the seller's agent know that we have been through a very thorough pre-approval process and that we are not going to run into any financing problems. We make it clear the buyer is backed by a team of professionals who will be available for support through out the sales process. When sellers see how pro-active our team is, they are more likely to want to work with us.

Let us know if you'd like to learn more about how to get an offer accepted. Our team of expert Mortgage Advisors are truly Advisors. They are available to help real estate agents and buyers secure the best financing and purchase the home they love. Come to us with your questions and we will find a solution that fits your needs.

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Erica Liodice
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