Offers - How Many Have You Got? Are they financially verified?
In this article, we will talk about offers, the different types, the high ones and the low ones along with the ones that can and sometimes cant proceed.
It's all about the money, at least it is for some people.
Receiving offers on your property normally comes after you have had a good level of marketing, viewings that have taken place with financially verified buyers, and then hopefully 2 or 3 competing offers.
Getting competing offers is the secret to getting the best price for your property. Agents generally will want you to accept an offer quickly for a couple of reasons, to boost their business model and give them a chance to say "sold in 3 days", this is great for them but is it really getting you the best buyer who will pay the best price?
How do we get competing offers I hear you ask? Well, it's by doing the things listed below and remembering who is employing us, that's you and not the buyer.
- Great Marketing
- A database of qualified buyers like no other agent
- Correct Pricing of your property
- Limited Viewing Slots, which create intensity
- We know each viewer's financial position
Each viewer needs to disclose their position before viewing by completing a "search profile" has your agent done this? Once we commence viewings they will normally take place in 2 one hour slots (midweek and weekend) and we will get as many people to view as possible, when viewers see other viewers arriving and knocking on the door it leads to an intensity of bees around a honey pot. This is how we get competing offers, it's like an auction process, buyers start competing against each other but remember we want just one, the best one, the one who will pay what you want and complete the transaction.
Offers are normally based on the amount of cash or the amount of finance that can be raised typically as a mortgage but which one do accept, the most money, the quickest, sometimes a slightly lower one? Really in all honesty it has to be the one that will complete the transaction and any good agent should know the ins and outs of the buyer's position, finance, chain length, and timescales and it is normally the buyer that matches your needs that will move forward.