Not all buyers are equal. If you want to choose a winner, there are five steps you and your agent should follow.
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It isn’t as easy to choose a winning buyer as you might think. On our team, we have a five-step process we follow when examining various offers with our sellers, and we’d like to share that process with you today:
1. We have a conversation with the buyer’s agent. When we talk to a given buyer’s agent on behalf of our seller clients, we do so to learn more about whether they’re the right fit for the listing.
2. We obtain an introductory letter. When a buyer or their agent includes a letter to explain their motivations, desires, and goals, this bodes well for the strength of their offer.
To get the best deal, you need to choose the best buyer.
3. We pull the sales activity of the buyer’s agent. Determining whether a buyer is qualified is important, but assessing the quality and experience of their agent is crucial, as well. If the agent has a very limited track record, for example, this could pose problems later on in the deal.
4. We determine if the buyer is pre-approved. It’s good to have a willing buyer, but it’s even better to have one that is ready and able. A pre-approval letter verifies that the buyer has spoken with a lender and has provided evidence of their ability to move forward with the purchase.
5. We ensure that the offer is clean and complete. If an offer is missing details or is poorly presented, we can expect the buyer and their agent to conduct other aspects of the deal with a similar lack of attention.
Each of these steps helps my sellers, my team, and me choose winning buyers.
If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.
