How to Win an Offer
Hey everybody Edna Wilson here, your hometown realtor as hometown as apple pie with this week's first topic. Today we're going to be talking about some fun things. The biggest thing is how the heck do you win an offer in this market?! It's crazy! Well, I definitely have some surefire ways to win. I don’t know if you’ve been out there trying right now but most houses are going 710 offers and they’re going anywhere from five to twenty thousand OVER the asking price. It’s a really crazy market.
I heard someone recently say it's a little bit of a housing crisis. Not the way that 07 happened but in a new way in the fact that we have lots of buyers who need housing and no houses for them to have. In fact, they started tracking inventory in 1982, and since they’ve been tracking we are at 42 lower in inventory than at any other time in history! That means there are no houses for our buyers. It's crazy!! But what I will tell you is this one thing: it really pays to have a very busy real estate agent in the midst of this housing crisis. Here's how and here’s why.
One is you want to work with someone who’s taking lots of listings. In fact just this weekend I put 2 homes under the mark, under a contract. They never really hit the market. I already had the buyer for them. A seller comes to me and says “Hey I want to sell” and I’m like “Hey I know a buyer.” It never even hits the market. That’s about the only way to win right now. It’s a little crazy out there.
The other way to win from what we’re seeing in some trends when going over the asking price is to go with a really low inspection period. So normally inspection periods are 15 days. We’re going with maybe like 7 days. That’s very attractive to sellers because that way if you’re going to back out you’ll do it quickly, if for some reason maybe the roof is bad or something.
Lastly, cash is king. If there’s any way to get cash to buy right now cash is king. That’s the way you definitely want to buy that’s always going to win in this crazy market.
Those are some tips for how to win a bid right now in this crazy real estate market. If you have any questions about that don’t hesitate to reach out to me!
