What are 4 Proven Strategies to Getting YOUR offer accepted?

Hi everyone, Kevin Yoder here with Yoder Real Estate Powered by EXP. Back to answer a question for you, which is: how can I get my offer accepted if I’m a buyer in this challenging market? What are four ways that we can get our buyers’ offers accepted in a very challenging seller’s market?

This is something that we are asked all the time, and it’s probably the most popular question given … when we have a home hitting the market today given the supply and demand nature of this real estate market. A seller’s market is defined by inventory, and supply and demand, which simply means is that there’s more buyers than there are homes available. When a home hits the market, especially if it’s in a hot area, defined by a buyer concentration for that home, typically in these sweet spot price points under 500,000 if you’re in West Michigan somewhere between, say, 150,000 and 250,000 would be a certainly a sweet spot.

These are homes that there’s sometimes 10, 15, 20, 30 offers for them. If you’re the buyer that wants to live in the home, and not drop by and see someone else grilling a burger in your backyard, pay attention to this because I’m going to give you four strategies. Make sure that your agent is employing all four, or at least most of them. It’s probably going to take all four plus additional ones that I can always share with you later on. But these are the main four. There are others, but these are the four today to keep this video nice, and short, and succinct.

Number one. This is no surprise. If you’re a seller selling your home, you want them to show you the money. So, it’s going to be price. Now, this is where a lot of agents and their buyers get off track. Mostly it’s the buyer’s mindset around this one. Home is listed for X. Let’s offer Y, which is less than X. Why is that? It’s because we are trained and programmed to never pay. Our parents told us and grandparents told us, “Don’t ever pay list price for a home.” Well, why is that? Why is that? When you walk into a store, and there’s a product on the shelf if it’s at a retail environment, do you barter for the price or do you pay the price? Well, I think we know the answer to that one.

It’s a matter of mindset. Remember, this is so important. The list price, that’s not automatically a super accurate number. It’s in alignment with what the agent thought at the time of listing based on data usually. So, it’s a combination of a seller and an illicit agent coming together and forming an opinion on price. Does it mean that’s the exact sweet spot right on the money? No, it does not. Does it mean it could be high? Yes. Could it be lower than market value? Yes. It could be right on the money based on what an appraiser is ultimately going to determine.

What does that mean to you? It means: do you love the home? Do you have to live there? Do you see yourself driving down the street pulling in your driveway, opening the garage door? “I’ve got to live here. This is home. Home is where the heart is.” If it’s that home for you, remember … This is important. Every $1,000 that you finance is $3 right now. $3 a month. You can increase that price by $10,000. And how much would that be? You could pay an extra $10,000, and your price on your home is not going to be that much. I mean, think about that. $3 for every 1,000.

We’re not increasing your monthly payment by that much by going up. That’s completely up to you though. Just make the decision. If your payment was, say, $30 more a month in this example, would that break the bank? If the answer is no, then it might be something you want to move on. Because $30 usually doesn’t change anybody’s lives. Take it a step further. You could add $20,000. Now, the reason which would then … on top of what you wanted to pay or were going to pay, that’s only going to increase it by a slight amount more.