As the fall market unfolds, multiple offers are encountered more often. This is what happens with most freehold homes like detached, semi-detached, and townhouses. Even for specific types of condos in certain neighborhoods. The advertised price is a lower than market value price, also referred to as a “marketing price”. The sellers specify a date and time during which they will accept offers.
On offer date. interested buyers put forward their offers through their agents. Competing for the home for sale. This is mainly the result of having more interested buyers than sellers. Resulting in multiple offers.
Out of 3, 5, or 10 interested buyers, only 1 will walk away knowing this house is theirs. But who will buy it and why?
As a professional, I have the strategy to make a buyer’s offer stand out. I also have the necessary knowledge and negotiation skills to make it happen for any buyer. As long as the family has the 2 things I will talk about below.
There are also 2 values for any home. The first one is the value the numbers and data show. Which is a view of the past. Yet, when a similar home in the area sold for $1,680,000 one week ago, the one selling today will sell for more.
So when my buyers have a set budget and a red line of what they can afford, I will remind them when a house is out of their budget.
Now some will say “What if we try and for some reason, we do get it for less? How do you know?” Trust me, I know. The market works in a certain way. Unless there is some disadvantage of this house it will not sell for less than the one that sold a week ago.
The Number One thing a family needs to win the home is to be able to afford to buy it. But that is not enough. There are two values for any home. The numbers and data value. And the value placed on it by the family wanting to buy it.
They want it because it offers access to the right school for their kids. Because it is in the location where they have relatives and friends. Because it has a dog park around the corner for their pet. Because it has the backyard and floor plan they dreamed of. For them. For their family. So the Number Two thing a family needs to win the home is to want it.
That's the core answer to who is winning in multiple offers and gets the home. The one who can afford it and who wants it more than anyone else.
However, I believe that the right home is out there for every family looking to buy. It’s just waiting for us to find it together.
#Remember to Say NAI/Yes to Life. Every Single Day.