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How to succeed in Multiple Offers.

Blog by Brent Eilers | October 20th, 2015

Multiple offers are frequent today. As a Buyer, how do you give yourself the best chance at success? First, choose an experienced Realtor who has as their greatest asset, their ability to negotiate contracts, especially a Realtor like myself who lives and sells Real Estate in North & West Vancouver.

Before you present an offer, it is critical to establish what you think is fair market value for the property. Then decide how much you are willing to pay for the home, even if that price is greater than what you think it is worth. Next, make sure your offer is subject free if possible. Many times there will be enough time to have an inspection and a bank appraisal done prior to offer presentations. Also, have a sizable deposit on hand by way of a bank draft when you present your offer. It is vital to make sure you know how many competing offers there are, who are the competiting buyers, and especially, what is the experience level of their representing Realtors. Finally, and very important, is the rapport and respect your Realtor has with the Listing Realtor. Many times this advantage is enough to tip the scales in your favour.

Many listing Realtors are now asking to have offers e-mailed to them. This practice can be some what disadvantageous to the various buyers. As a buyer you are entitled to have your offer presented directly to the seller by your Realtor unless the seller has specifically requested in writing to the contrary. If the Seller does not allow for an in-person presentation, it is a great idea for you to write the seller a personal note to explain how much you would like to purchase their home. Some buyers have even produced a small video.

Multiple Offers can be stressful, but a professional Realtor like myself has the experience, knowledge, and negotiating skills to give you the greatest chance at success!