Part 1: The Prep
1. Pre-Approval and Turnaround Time:
- Aim for a quick turnaround time with the lender to shorten the condition window.
2. Understanding Offer Paperwork:
- Discuss offer intricacies beforehand to alleviate pressure during decision-making moments.
3. Deposit Readiness:
- Ensure availability of funds for the deposit to be pulled from the account immediately upon securing a home.
4. Understanding Home Vintage Elements:
- Familiarize yourself with unique aspects like polyB or aluminum wiring and estimate replacement costs in advance.
5. Scheduling Efficiency:
- Minimize time lost in correspondence by aligning schedules and reducing back-and-forth.
6. Keeping an Open Mind:
- Explore "maybes" to gain experience and confidence in decision-making.
Part 2: The Mindset
Adapting to Market Changes:
- Understand that markets change, requiring different skills as an agent and buyer.
Understanding Market Value:
- Focus on what sellers are willing to sell for and buyers are willing to pay, rather than list price.
Offer Strategies:
- Utilize escalation clauses, personalized letters/videos to sellers, minimal conditions, strong deposits, and ideal possession dates.
Part 3: The Presentation
1. For Buyers
Preparation Checklist:
- Have pre-approval and a drafted letter to sellers ready.
Letter to Sellers:
- Personalize the letter, explain the offer intentions, compliment the sellers, and express why the home is the perfect fit.
2. For Agents
Effective Communication:
- Engage in real conversations with the seller's agent to understand their priorities.
Offer Presentation:
- Structure email content with a summary and include the buyer's letter at the forefront of the offer.
These show notes provide a comprehensive overview of competitive offer strategies, encompassing preparation, mindset, and effective presentation techniques for both buyers and agents.
