Here is a great piece of information on how a buyer's agent can best present an offer for a prospective property. I feel it is always a great idea for a buyer to have a buyer's agent represent them in the negotiating processs.
It also is imortant for a buyer to meet with a loan officer to get pre-approved for financing prior to looking at properties.
PRESENTING AND NEGOTIATING THE OFFER
Lets set the stage:
You've written the offer and it's time to present it to the sellers. Do you simply fax it over to the listing agent and await their response?
Let me ask you this, is that truly representing the buyer? Of course not.
Call the listing agent and let them know you would like to personally present the offer.
Here are some of the key steps to presenting and negotiating the offer:
- Give the sellers some personal background on the buyers, what they are looking for, their qualification abilities, how many homes they have looked at and what they appreciate about their home.
- Provide the sellers with a current snapshot of the marketplace (the same information you provided your buyers with when they decided on what price to offer)
- Review all of the major details of the offer; contingent or non-contingent, inspections, date of closing, etc. Then move to price. Upon presenting price, be silent and listen.
- Be sure to have all your documents and disclosures in order including your letter of Buyers pre-qualification.
- You might also include a brief timeline outlining many of the sequences of the escrow including from the date of opening to the date of closing.
If you've done your job and you have a good agent on the other end, you will walk away with an accepted offer.
Michael Byrne
Mortgage Specialist
Contact me at via email naitch6203 at yahoo dot com or phone at 908 531 6170
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I like your post. I usually call the agent and discuss my client and the potential offer before writing anything. It helps to make a cleaner offer if for nothing more than resolving services. Selling the listing agent on your offer is as important as selling the buyer on the house and writing an offer.