Let’s say you’re a real estate agent and you’ve spent months helping your client find just the right property for their needs. Finally, you’ve found the perfect home. The location is great, the price is right, and your buyer is ready to make an offer.
It’s important to ensure that the offer you put together is thorough, concise, and highlights to the seller why they should accept your buyer’s offer. This is especially important in a seller’s market, where there may be multiple offers on the same property. It’s crucial to present the seller with an appealing and well-crafted offer that will make them choose your buyer over other interested buyers.
Highnote can help you create an engaging and elevated presentation that catches the seller’s attention.
How to Present an Offer to a Seller? 7 Crucial Steps
1. Start with Property Research
To make a strong and competitive offer, it’s important for a real estate agent to thoroughly research the property’s area. This includes analyzing the local real estate market, gathering information about the property, and considering other recent sales and comparable properties in the area. By having a good understanding of the neighborhood, the agent can be seen as an expert and use this information to create a compelling offer.
2. Analyze Market Conditions
Next, take a good look at market conditions. Is it a seller’s or a buyer’s market? Are there many unsold properties left in the same area similar to the property you are making an offer on? These are essential questions you should know the answer to. However, analyzing market conditions goes beyond that. You must also look at economic factors like unemployment rates, population growth, and the general outlook for the local economy of where the property is located. Study zoning laws as well because they may affect the future value of the property.
3. Understand the Seller’s Perspective
Why is the seller selling their property? Are they in dire need of money? Did they find a bigger and better home? Put yourself in their position and determine what would make an offer attractive to them. If it’s a seller’s market and the area is in high demand, you will probably compete with other offers.
From the seller’s perspective, what would make an offer stand out? Remember, it’s not always about the price. There may be other factors that will help the seller decide whose offer to accept. For example, some sellers who don’t need the money may choose a buyer who shares the same values as them. If the seller is sentimental and raised their family in the property they’re selling, they may want to sell it to another young family who can make new memories in their beloved home.
4. Tailor Your Offer
Tailor your offer based on what the seller needs and wants. Each buyer has their own unique situation. For example, if the seller needs to sell the property as quickly as possible because they have a new job waiting for them in another city, then you can tell them you’re willing to have a shorter period before closing. Determine if there’s anything specific you can add to your offer to make it more appealing to the seller.
5. Offer Flexibility
Sellers want to feel they have options. One common area where sellers appreciate flexibility is the closing date. If the seller wants the closing day to be 60 days from now instead of the typical 30 to 45 days, agree to it. Sometimes, a seller will choose a buyer who can meet their needs instead of a buyer who offers a higher price.
6. Craft the Irresistible Offer
It’s time to craft an irresistible offer your seller can’t refuse.
- Determine the price
Of course, it goes without saying that you should already have a price in mind. Note that offering higher than the asking price is given in a seller’s market. Determining the price you offer depends on several factors – how much you can afford, how much you want the property, and what price you think will make it a win-win situation for you and the seller. Remember that while the price is crucial, some sellers look beyond the price. A high offer doesn’t guarantee that a seller will choose you.
- Analyze sales data
You can take a look at past sales of properties in the neighborhood to help you come up with your price. Of course, the seller will already have an ideal price in mind, but you can also do your own research to determine what offer price works best for both parties. Take note of how much nearby properties have sold, how long they sit in the market before selling, and if other similar properties are available.
- Terms and conditions
The terms and conditions of each offer differ, depending on the buyer and seller. Typical terms and conditions are the following:
- The terms of a buyer’s mortgage loan.
- Sale inclusions or exclusions – for example, air conditioning, small appliances, or furniture.
- Renovations, if any.
- Closing date
When putting together terms and conditions, ensure that they are acceptable to both parties. If there are a lot of offers on a single property, the terms and conditions can sway a seller’s mind. You should find a balance between asking for too much or too little. If you ask for too much, the seller may think you’re a difficult buyer. If you ask for too little and the seller says yes, you may end up with a property you’ll regret in the future.
- Offer letter
An offer letter helps the would-be buyer connect to the seller emotionally. Sometimes, a sincere and well-written offer can make the difference between a seller choosing one buyer over another. You can explain why the house is an excellent fit for you and your family, or you can share why you love the property in the offer letter.
7. Use Highnote to Present Irresistible Offer
Now, it’s time to put all these together using Highnote. The online presentation platform has hundreds of templates available online that you can use as inspiration for your own offer. If you’re short on time, you can also modify a ready-made template to make it fit your needs.
Highnote also has all-new features, including Highnote GPT which is an AI-driven presentation coach, the ability to copy and paste images, and a new exciting program that offers $20 for each referral.
Highnote puts everything together in one seamless offer presentation. When you’re finished making your presentation, all you need to do is send a link to the seller and they’ll have access to all the information you’ve included. You’ll also get real-time notifications every time they look at the presentation, which gives you great insights on how interested the seller is in your offer.
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