Episode 3: How Buyers and Sellers Win Multiple Offers
Bello Dimora of Keller Williams Louisville East present Real Estate Radio Now hosted by Steve Shuff. This episode features Rob St john, lead agent and co-owner of Bello Dimora, and Katie Messenger, Lead Buyer Specialist of Bello Dimora.
Katie discusses her methods in dealing with today’s “lack of inventory” and how that impacts her clients purchasing real estate. She explores the importance of education at the start of the home buying process. 100% of the clients that Katie and her team works with begin their process with an in-office appointment, resulting in success. The steps covered in this initial session are covered. Katie and Rob discuss the importance of being pre-approved from both the perspective of the buyer and the seller.
Katie talks about tips and strategies that she incorporates when dealing with a situation where her client is one of many offers being presented to a seller. It begins with asking the listing agent a series of questions so her client can best position themselves to increase the percentage of success. Steve talks about the importance of upholding the agent’s fiduciary responsibility especially when working with multiple offers.
Price is one important factor of structuring a competitive offer. Katie reflects on a question she asks her client in this situation to ensure they are ready to write the offer that is the strongest it needs to be for their circumstances. Closing costs: if you don’t need it, don’t ask for it; especially when competing.
From the seller’s perspective, Rob reflects on what some sellers might look for when they are looking at multiple offers. Terms of the contract are important, and not all of it rests on price. Rob discusses the importance of the earnest money deposit and how that could be interpreted by the seller. Is it possible to accept an offer that comes in over list price? The answer is yes, but Rob discusses why it might not be the best choice when you are dealing with multiple offers and it is regards to the appraisal. The closing timeframe is also a term that can impact the likelihood of the offer becoming more favorable.
This episode is brought to you by Bello Dimora Real Estate Professionals of Keller Williams Louisville East. Visit Bello Dimora Online at www.BelloDimora.com. Find this episode and others online at realestateradionow.com where you can download past episodes and subscribe to the podcast. You can also find this episode on itunes. Contact that show at email@example.com or 844-776-7726 to have your comments and questions addressed on the show.
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