Posts Tagged rich cosner prudential california realty market picking up buyers multiple offers market shift sellers buyers home real estate
Subject: WHAT IS YOUR STRATEGY TO GET 2 SALES THIS WEEKEND?
March 15, 2012
This is not the weekend to be hope to get “a” sale. This is the weekend to be looking to put two or more together. The buyers are there and while the listings are fewer, there are still plenty to sell. You will never get two or more, however, if your thinking is to get one or “hope” to get one.
You need to decide. Only by deciding to get 2 or more will you do it. Real estate transactions do not happen by accident. They happen because a real estate professional decided they would happen. You meet the needs of your buyers or of your sellers. But you need to decide. You cannot sit back and wait for the waves in the ocean to transport you to a tropical paradise. You need to steer to that paradise.
Most of you are dealing with too many buyers. If you have 10 buyers, I suggest all you have is 10 people interested in real estate. A buyer is:
1. Someone who will meet with you to share their goals and objectives.
2. Someone who will get pre-approved with the lender you want them pre-approved with.
3. Someone who understands that they will likely have to pay over the listed price and be willing to do so.
4. Understands that whatever house is the best house for them will be seen by others as the best house for them as well. Thus, prepared for multiple offers.
5. They need to agree up front to take every step to win in a multiple offer situation:
A. Pay more than full price
B. Put their entire down payment in escrow on acceptance of the offer. (be sure to have signed liquidated damages)
C. Offer to close quick, even if they cannot move quick. Close now and work out a rent back.
D. Have the pre-approval letter to go with the offer.
E. Write a letter to the seller on why it would mean a lot to them and their children if the seller accepted THEIR offer.
F. Be available to communicate quickly when you need to with them during the negotiating process.
G. Understand that getting a good deal was two years ago. Today, a good deal means just getting the deal.
You are better off working with one buyer that meets this criteria than 10 who do not. This will make you very willing to do all the work needed to find a great property for this truly motivated buyer.
If you are fortunate to have five of these buyers, for example, pick the one who will buy the quickest and give them 50% of your time. When they buy, someone else gets the 50% of your time etc. If you give five buyers 20% of your time, you will get zero sales usually.
If you have none of these buyers you need to hold two open house this weekend. No excuses. Decide. Two deals this weekend!
Thanks for listening.
Richard D. Cosner
Prudential California Realty
22800 Savi Ranch Parkway, Suite 100
Yorba Linda, CA 92887