Carlsbad Real Estate News and Views: Is Your Offer Dressed for Success?

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Is Your Offer Dressed for Success?

How to Dress Your Offer for Success

 

In our competitive sellers market, with multiple offers common, you need every advantage possible to improve your chances of being the successful offer.

 

Of course there can only be 1 buyer who will come out on top, and there are many factors that can impact who this is…on the buyer side, of course, but it might also depend on what the seller’s hot buttons are.

 

Dress for SuccessWHY DRESS AN OFFER FOR SUCCESS?

Dressing your offer for success is essential, to compete effectively.

 

Some offers we see these days are in pretty rough shape and you don’t want to be one of those!

 

Offers that are sloppy, incomplete, or have mistakes will convey a bad impression to the listing agent and seller – not a situation you want to be in as a buyer competing for a house you really want!

 

Appearances CAN make a big difference, and you want your offer to look its best, rather than have the other agent and/or seller have concerns about working with you based on a bad first impression.

 

buyer and buyer agent work togetherWHO DRESSES THE OFFER?

Part of that responsibility is the buyer’s, with certain decisions that must be made in consultation with the buyer agent, about price, closing date, terms and conditions, appliances, and time frames for inspections.

 

And part of the responsibility is the agent who puts together the offer and communication to the listing agent. It definitely has to be a team effort.

 

It goes without saying that if the details of your offer are not competitive there is nothing that’s going to make your offer more appealing to the seller no matter how complete or well-presented the offer may be.

 

At the same time putting a great offer forward, with favorable price, terms and conditions, in a sloppy manner won’t make a good impression either. And that could lead to concerns by the listing agent and seller there could be trouble ahead with carelessness or other issues.

 

HOW TO DRESS YOUR OFFER FOR SUCCESS

We know first impressions make a difference, and it’s probably no less true when writing an offer! The basics of getting your offer dressed well are pretty simple - the paperwork must be complete, with all the necessary information filled in, no mistakes, and appropriate dates, signatures, and initials.

 

price is a big issue in an offerMaking the best possible offer based on list price is essential (but of course buyer and agent should discuss the strategy based on financial, market conditions and other considerations), as there may not be a second chance when there are multiple offers. And any terms and conditions should be as clean and clearly laid out as possible. Asking for too much may not be competitive. Sorta like adding the wrong accessories to your outfit!

 

Another important step, and a professional courtesy, is to let the listing agent know, via text, email or call, when the offer has been sent. Many seem to not do this…why IS that? Sometimes technology fails and you could be wrong if you only assume the offer was received and don’t verify!! Or the agent may be tied up in appointments and not be checking email.

 

communicating onlineOTHER THINGS TO HELP DRESS YOUR OFFER!

You should ask for confirmation of receipt in your communication, but I always follow-up in short order with a call, email and/or text to confirm receipt if I don’t hear anything back!! Some are just not good at confirming (I bet you have heard THIS before – “oh, sorry, yes I got it”), even when asked, sometimes more than once.

 

As part of dressing the offer properly I like to send a detailed email as an introduction to the agent, and summarize what is included in the attached paperwork (price, important terms and conditions, pre-approval, POF, all offer paperwork and agency documents, and anything that might be requested by the listing agent, such as a signed addendum to the offer). I might spell out the closing time frame and elaborate there is flexibility, if that’s a key selling point and my buyer client wants to emphasize this in the offer.

 

I also clarify other issues that were discussed with the listing agent prior to offer submission (a good thing to do) if needed, or remind them of matters that were reviewed.

 

Lastly, you probably would not go out the door partially dressed, right? So you certainly don’t want to submit an offer without a current and complete pre-approval letter.

 

And including Proof of Funds (POF) is a good idea, and essential in the case of a cash offer.

 

Is your next offer going to be well dressed?

Or a slob?

 

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Solutions Real Estate (CA DRE lic #01470977)

Comment balloon 47 commentsJeff Dowler, CRS • March 07 2019 04:18AM

Comments

Jeff great message and I find that it is not just for multiple offers it is just plain old good business to do that with every type of market. I also like to reach out to the agent and get as much "intel" what the sellers need, want and prefer...which leads to a discussion with the buyers prior to submitting the offer...Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 19 days ago

Yes, this is important information for all offers, regardless of the market. 

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 19 days ago

Good morning Jeff. Your reputation depends on the quality of your paperwork. It defines your credibility. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 19 days ago

Good morning, Jeff... I love how you titled and phrased this post. It's just perfect! (So are your suggestions and tips!)

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) 19 days ago

Wonderful advice...legibility when offers are hand written...yes it does still happen...is a real biggy !

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 19 days ago

Jeff, you really nailed it with this post.  I have seen many offers that were rejected simply because of the unprofessional and sloppy way they were written up.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 19 days ago

Endre Barath, Jr. 

You made a couple of excellent points...it realy IS about all offers, not just when in a competive situation. And getting as much intel as possible can make a big different...and it starts a relationship with the other agent!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

That's really true Kat Palmiotti  - it's not just about being in a seller's market but when submitting ANY offer...or it should be! Thank you!!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Hey Wayne Martin  Great points. Your reputation can precede you, and you don't want to get one as a person who doesn't know how to write a good offer. Like it or not people will make assumptions!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Thank you for the kind words Nina Hollander . I had an experience just the other day that prompted this!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Hi Sally K. & David L. Hanson 

That's an excellent point. But, wow, I cannot recall the last time I saw a handwritten offer!! It's pretty surprising what you see from some agents.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Not at all uncommon here Jeff Dowler, CRS ...agents don't bring laptops or pads and BOOM...you have to write RIGHT NOW ,....or you lose...

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) 19 days ago

Hi Gabe Sanders 

I have seen some pretty poorly done offers, too. It's just not all difficult to complete the appropriate paperwork, is it?

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Jeff,

Great post, and I think it should have been featured...We are firm believers that every thing should be dressed for success when it comes to one's approach to business.  And one can also dress for success when working in the garden, tux is not needed...heavy duty leather gloves are.  It is the appropriateness to the situation.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) 19 days ago

Thank you for the kind words, Ron and Alexandra Seigel . I think you make an excellent point...as always!!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

HI Jeff Dowler, CRS - I just had an offer come through. It was a low ball and had a lot of restrictive language. The seller just completely rejected it. Their thought...a buyer too difficult to negotiate with. 

The buyer agent calls me and angrily frustrated said - "Why didn't you counter!!"  My thought... the agent gave them a bad negotiation strategy and now had egg on her face with no counter!  Some agents think they can tell the motivation of the seller by the way they counter back....Not in this case!

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 19 days ago

We aren't really in a "sellers" market, but rather stable at the moment and I still try to "dress" my offers for success and sometimes have sellers just say no to poorly written offers rather than counter. 

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) 19 days ago

Hi Sheri Sperry - MCNE® 

Yep I have seen a few pretty badly done offers, and 2 people are responsible...perhaps 1 more than the other! It's always interesting how some respond!

Good luck!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Hi Tammy Lankford, 

Well, as others have said, and I totally agree, it's something to be done with all offers, not just those in a seller's market or with multiple offer situations.  Some offers really are a pleasure to receive and review, while others are not.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Jeff love the title, and the blog was equally as good.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 19 days ago

Hi Jeff -- first impressions matter.  And as we tell our clients, there's only one chance to make that first impression.  Make it memorable.  And for the right reason. 

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 19 days ago

Hi Jeff Dowler, CRS ,

Glad to see your post featured! You are right on target. I received an excellent offer (over full price) clean as a whistle and the agent is on top of her game! Communicates well and takes care of business. Just the way I like a transaction to go for my sellers. The lender called me right away....making us all feel comfortable in accepting this buyers offer.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) 19 days ago

Thanks George Souto I appreciate both compliments!

Michael Jacobs Memorable, yes, and NOT for the wrong reasons! Thank you!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

Hi Dorie Dillard CRS GRI ABR 

Thank you kindly. Sounds like you got a well-dressed offer that was a pleasure to see, review and accept. Congratulations!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 19 days ago

It's a lot easier to make a good impression when you use a computer to write an offer.  No ink smudges or wrinkled paper! And you are almost forced to fill in all the blanks.

Posted by Carolyn Roland-Historic Homes For Sale In Delaware and S. Chester County PA, Carolyn Roland, GRI, CRS (Patterson-Schwartz Real Estate) 19 days ago

No such thing as a hand written offer here! Clearly the cleaner the offer is the more likely it is to be picked. Rarely see multiple offers here in Brunswick County NC. Wish we did! Over listed price is even rarer 

Posted by Tom Bailey (Margaret Rudd & Associates Inc.) 19 days ago

I like to have my offers have a few metaphorical flowers in there somewhere or actually have it dressed up kind of nice with handwritten notes and such. :)

Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) 19 days ago

Morning Jeff.

Man you really nailed this one.  Congratulations on the feature

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 18 days ago

Enough said...

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) 18 days ago

Jeff, You hit this one out of the park. I have to totally agree with Richie above. "Enough Said..."

Posted by Jerry Newman, Texas REALTOR, San Antonio Military Relocation (Brown Realty, 210-789-4216,www.JeremiahNewman.com) 18 days ago

Jeff Dowler, CRS - All the while I was reading your post, I was nodding and agreeing. I was hoping it would be featured and was happy to see AR got it right! This is a great blog post to be featured!!!

Congratulations. 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) 18 days ago

Good points Carolyn Roland-Historic Homes For Sale In Delaware and S. Chester County PA . Although one still has to fill in the blank with good information...especially that price, closing date and so on.

I remember having to fill out paper forms years ago - they were in triplicate. Such a nuisance.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 18 days ago

What a good post Jeff Dowler, CRS filled with information buyers need to know and understand.

Posted by Nick Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 18 days ago

Hi Tom Bailey 

Thanks for stopping by. This is a great example about how local real estate can be. I haven't seen a written offer in years! And everyone uses Docusign or someting similar.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 18 days ago

 Congratulations on the feature!   THIS IS SUCH A GREAT WAY TO EXPLAIN THE IMPORTANCE OF PUTTING YOUR BEST FOOT FORWARD TO BUYERS! 

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) 17 days ago

A different take on dress for success!  When I get an offer that looks sloppy, isn't written correctly, doesn't have the corresponding pre approval letter or support docs--that tells me a lot about the agent on the other side

Posted by Mary Hutchison, SRES, ABR, Experienced Agent in Kansas City Metro area (Better Homes and Gardens Real Estate-Kansas City Homes) 17 days ago

Phenomenal title - Wish I had thought of it, lol, and the post is just as good!

Posted by Jill Sackler, LI South Shore Real Estate - Broker Associate (Charles Rutenberg Realty Inc. 516-575-7500) 17 days ago

Jeff, this is a terrific post - it is very important for people to understand how to dress an offer for success!

Posted by Marney Kirk, Towson, Maryland Real Estate (Cummings & Co. Realtors) 17 days ago

Hi Laura Cerrano  - That would certainly brighten things up a bit!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

Thanks for the kind words, James Dray !

Thank you Richie Alan Naggar  Great photo - Australia?

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

Hi Jerry Newman  Thanks for stopping by and for the compliment! Much appreciated.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

Hi Patricia Feager, MBA, CRS, GRI,MRP 

I'm glad you felt it worthy, and found yourself nodding your head. Guess I lucked out with the feature!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

Nick Vandekar, 610-203-4543 

If  buyer is going to make an offer it might as well be done appropriately, with our help. Not all are!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

Thanks Lise Howe  It's a pretty important topic, even more so when competing with others.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

Hi Mary Hutchison, SRES, ABR  Well you hate to make assumptions, but when the offer is badly done that sends a pretty powerful message.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 16 days ago

As I said. I am going to share this with my clients so they are ready to put their best foot forward

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) 15 days ago

And no doubt you will help them do so as needed Lise Howe . Thanks again!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 15 days ago

Participate