How To Win In Multiples: Part 2

Last week I shared four of the eight techniques The Chabris Group uses to get our buyer clients’ offers accepted almost 50% of the time. It’s important to know all eight techniques. If you missed the first four, head back and check out our post from last week. 

Ok, let’s jump into techniques 5-8!

Technique #5: Don’t be an a$$hole. 

Let’s begin by addressing the “a$$shole clause.” In today’s hyper-competitive and under-supplied market, agents are constantly striving to outdo one another in order to have their client’s offers accepted. As real estate professionals, our primary responsibility is to ensure our client’s needs and interests come first. When interacting with a listing agent, it’s crucial to maintain a high level of respect, professionalism, and courtesy. After all, that agent’s opinion of you will be instrumental in getting your client’s offer accepted.  

There are times when a Realtor enters the scene, displaying diva-like behavior, employing abrasive language, or adopting an excessively confrontational stance. In such situations, it’s important to remember that success in this field is unlikely when one fails to treat others with respect. We are all human, and we naturally appreciate being treated with respect. Disregarding the basic principles of courtesy and respect is a surefire way to alienate others, impair your client’s ability to get their offer accepted, and ultimately hurt your chances of succeeding long-term in the real estate business.

So, how can one avoid falling into this negative pattern of behavior? The solution is surprisingly simple— you need to strive to cultivate an attitude of respect, empathy, and professionalism in all of your interactions, whether they are with fellow realtors, clients, or other industry professionals. You’ll not only improve your chances of success but also contribute to a more positive and collaborative atmosphere within the real estate community. Remember, your reputation is one of your most valuable assets in this business, and treating others well is an investment in your long-term success.

 Technique #6: Reverse Closing Costs! 

To help make your client’s offer stand out, suggesting to them that they offer to cover some or all of the seller’s closing costs can also be a powerful negotiating tool. This is not a standard practice in multiple offers. By including this term in the contract, your client’s offer should stand out among the other offers and garner more attention and consideration from the seller.

Of course, it’s important to remember that offering to cover closing costs is not always feasible or advisable in every situation. It’s important to carefully consider the circumstances of each individual client and transaction before making any recommendations. However, in many cases, offering to cover some or all of the closing costs can be a smart strategy for helping your client get the home they want.

Technique #7: The secret lives of backup offers.

As hard as we try with our clients to get an accepted offer, it’s still statistically likely in today’s market that we won’t get our offer accepted. Well, the natural response would be to get disappointed and frustrated and walk away. Let me tell you how to stand out… WRITE THE BACKUP OFFER! Why? Because if the other agents and their buyer clients get frustrated and walk away, your client’s backup offer is first in line. After all, there is a much higher fail rate for multiple-offer real estate deals. When the first contract fails, your client is next in line with pre-negotiated terms in place and doesn’t have to compete with everyone in the market for that house again! If your buyers find another home they like, you can always just rescind the backup offer. Not enough agents are using this strategy.

Technique #8: Use your resources! 

When you are competing with other agents and other buyers, what can else can you do to truly differentiate your client and their purchase offer? What resources do you have available to really help your client’s offer shine? Ask your broker, office manager or team lead: what resources or tools do we have available to better empower my buyers in this market? 

For example, qualified home buyers can use The Chabris Group’s line of credit to make cash offers. Removing the financing contingency from their offer increases our client’s chances of getting their purchase offer accepted by the seller. We have seen our clients’ offers get accepted more frequently and oftentimes with better terms.

So whether it’s a special financing option, a unique guarantee, or something else entirely, it’s important to take stock of the resources at your disposal. Be it through your brokerage, your team, or perhaps your affiliated vendors – find ways to use your resources to differentiate your client’s offer and gain a competitive edge in a multiple-offer situation. You’ll not only provide better service to your clients but also position your sales business for long-term success and growth.

I hope this helps and I will talk to you next week!