The Raleigh real estate market is overflowing with interested home buyers searching for their next dream home.
Unfortunately, there has not been an equal number of home sellers entering the market.
This has created a situation where there are more buyers than sellers, giving sellers the advantage. What has resulted is a real estate market where multiple offers are common.
Luckily, you can turn to Linda Craft & Team for help. For the last several weeks, we’ve been providing tips on how you can up your chances of winning in a bidding war.
Tip #8: Know The Different Ways to Present Multiple Offers
There is no standard approach to presenting multiple offers, although the National Association of Realtors does provide some general guidelines. Those guidelines are:
a. Individual Presentations – each offer is presented to the seller by the listing agent. The offers are presented to the seller verbally and then email or delivered in person. The content of each offer is not shared with anyone else. This is most highly used in our marketplace. Therefore, the gate keeper and presenter of your offer is the seller’s agent. It is important that your buyer agent fill out every blank of the contract correctly and that you do not miss initials or signature pages. How your offer is filled out is being judged by the seller’s agent for attention to detail, experience and professionalism. A properly filled out Offer to Purchase communicates experience to the seller’s agent and this is what pleases them most. They all prefer working with an experienced buyer agent because the odds of bringing this offer to a successful closing are higher. To the listing agent an offer is just the beginning. There are a lot of steps and more negotiation to bring this offer to a closing.
b. Group Presentations – all offers are presented at the same time in the presence of all representatives. This is rarely used in the Raleigh/Cary market and most Realtors are not even aware this is a legal option to request. In addition, most sellers will not agree to this approach since it is time consuming and awkward for them. However, your Exclusive Buyer Agent can request they present your offer directly to the seller. If granted, this allows your representative to defend your offer, answer any questions or concerns and let’s faces it, looking someone in the eye makes it harder to say no. If this request is granted by the seller, it would be wise for the buyer to be waiting in another room or outside in case a counter offer is given. Then a quick initial or signature can close the deal immediately before a better offer comes in. Your goal in negotiations is signed, sealed and delivered. There is no better way to move fast and get it done that this approach.
Need Triangle Area Home Buying Help? Contact Us Today!
For more valuable advice and user-friendly resources that you can use as a home buyer, make sure to contact us at Linda Craft & Team.
We have decades of experience helping home buyers just like you navigate the market in the Raleigh area ad we would be happy to assist you as well!
Until next time,