3 Innovative Ways to Get Your Buyer’s Offer Accepted | #TomFerryShow

I’m willing to bet you know this pain…

You finally find the perfect property for a buyer, they get their hopes up, you write an offer, and… nothing.

They lose out in a multiple-offer scenario, and you’re right back to square one.
It hurts. For them. For you. For your schedule. For your bank balance. For your reputation.

So let’s fix that.

On today’s #TomFerryShow, I’ve got 3 tips to get your buyer’s offer accepted – and a bunch of ideas within each of those three tips.

In times like these with so much competition for every property, it takes some ingenuity to separate your offer from the pack. Find out my advice in this quick video.

------------

For the majority of my life, I’ve been passionate and dedicated about changing lives by giving away the very best strategies, tactics, and mindset techniques to help you and your business succeed. Join me as we take this to level 10!

------------

Keep up with me and what's new on my other channels:

You are advised that any Information provided on this podcast is not legal advice. Ferry International assumes no responsibility for consequences resulting from the use of the Information. Some of the Information may be outdated or not consistent with current law.

[jwellscfo]

On the laddering up strategy, most people can't even think in five or six figures, meaning they don't really get the difference between 510k & 520k, especially when it's amortized over 30 years. It'd probably be more helpful to have an amortization schedule in a spreadsheet that automatically updates the payment at different prices. I don't know if I can't afford 520k, but I can start to think about a 2, 220 vs. 2, 260 monthly payment against my monthly income. I routinely put together amortization schedules for my business clients considering financing options. It's always the best way to help them budget the true cost of financing.

[HarryMoore]

I always try to call the listing agent and get as much information about what the seller wants as possible. Often times they don’t answer. I love the idea of texting them a video asking the question. A great suggestion TF.

[livingincharlotteshawngerald]

Our market in Charlotte just like this. We have used 2 of the strategies here, adding a video to accompany the letter sounds great. Possibly offering to add value to the seller by paying the taxes, closing cost etc is new and genius!!

[agentkkelly]

This is full of potential FAIR HOUSING VIOLATIONS!! DO NOT write letters, send photos, or videos that could put the seller in a position of making a decision based on a bias that could be a protected class.

[peggynye]

We have a formal "escalation clause " that will allow the buyer to bid in increments up to a ceiling price BUT with proof from the selling agent that there was another bid.

[julithompson]

Loved this Tom, our market here in the Sierras of CA is crazy right now, and most of our agents are very willing to discuss seller situations, which I've found to be THE Best way to find the WIN-WIN. With that knowledge, I find having frank conversations going in with the buyers, and sellers alike, preparing them for the negotiation process and finding their limits has helped get offers accepted and the deals closed.

[brunoversacirealtor]

One strategy I'm going to start using (I just found this out) is where it says "other terms" on the purchase offer, I put: "buyer to pay $1000 above every other offer up to X amount" Sounds like it could work. ( :

[gunny]

I inform my buyers that every seller is in a different place in life, and that typically determines the outcomes. Every home on the market isn't due to a happy family upgrading! There is no one size fits all, however, net is the gold standard. Try and contact the listing agent to do some recon on the seller. I've closed most of my transactions on the phone with the other agent! Why offer to rent the house back to the seller if that doesn't meet their needs? As an agent, we should already be aware of our buyer's position in order to guide them effectively in structuring an offer. In this market it's tough. Having well qualified clients increases your chances of securing a home for them. Tom's ideas may work on the perfect seller, but at the end of the day the seller wants to put more money in their pockets.

[beaubullardaz]

Great content Tom! Incredible insight 👏🏻

[jesseagilbert]

Hey Tom how do you handle the object from a buyer that needs to sell their home first that they want to buy a home first but tge houses they like are being bought over asking cash offers? I tried a few different approaches but any feedback would be fantastic.

[thurlowandbute]

What a great video. Number two has got me thinking on my next offer. Took a lot of way with number two in this video. Good stuff. Thanks Tom.

[MutantApe-hzmh]

How about find a home that suits your own family's needs.

Make sure that the home is at a realistic affordable price for the amount of income you make.

Find an agent that gets things done and works for you. Communication is key. Always communicate. Don't be afraid to say what you're thinking and with that, listen to what they are thinking.

Find a mortgage lender that you feel is in that same ballpark. Make sure they work for you. And absolutely make sure that both the lender and agent communicate as well.

Now, about getting your offer accepted...

..If say hypothetically, that there are already 2 offers. And you love the home, you need it, your family wants it, the home absolutely suits your needs... be competitive, and come in with a bigger offer, or pay such and such over the highest offer.

... In my very own particular situation, I used my VA Home Loan, and found a house with zero offers that was in the realm of what I can realistically afford. I made my offer of what the seller's were asking for. And to include that they pay such and such towards closing costs. And I sent them a 'letter'. A letter saying thank you for the opportunity to make an offer on your home... Yada yada yada... But I made it short and sweet, yet relatable.

My family was the first offer. And by last Saturday the seller's had gotten 4 other offers. The seller's chose us and now we're going through the closing process. The seller's told our agent how much they liked our letter and was the biggest reason why they chose our family to sell to. ♥️

...what to take away... Write a letter to the home seller's on top of the offer you make. To set you apart from the incoming crowd.

[lauriesmith_REALTOR]

"Love letters" are a fair housing NO-NO! All of the other tips are super helpful though.

[AndrewNortonCRS]

Make the entire downpayment the EMD. It will get the sellers attention for sure. We had one sale in our market, a $2 million sale. Buyer was all cash. The EMD? $2 million. Yeah, they won

[pmckernan]

What are some tips and tricks to get your offer accepted?

[morland]

I disagree with sending letters and photos of the families. That’s opening up a very ugly can of worms and WE KNOW these results VARY negatively based on things outside of the buyers where they were born, the color of their skin, family

[geraldwood]

We need to be careful about fair housing laws.

[MR-AK]

make a video? how about start a youtube channel for the seller ? 🤣😂🤣

[violetadandusevski]

Maybe the best strategy is emailing the Highest and Best offers directly to the seller and bypassing the listing agent. Let the seller decide what is the best offer for them, not the listing agent. Level the playing field for everyone and bring transparency to "representing the best interest of my client."