Recently, a friend introduced me to a young buyer who had been searching for a home for over two years. She had written loads of unsuccessful offers on San Francisco properties and invested so much time chasing the market up, up, up.
I met the buyer for a brief chat, assuming there were some deep-seated problems in her approach. I pointedly asked what she was submitting in her offer to a listing agent. “A purchase contract and a handful of disclosures,” she said.
Ohhh, so lackluster advice was leading to miserable performance. I could fix that.
An offer that’s hard to refuse
My buyers get proven, effective advice because I’ve closed over 250 transactions in the past 12 years. I’m fascinated with perfecting and applying best practices in residential real estate including writing irresistible offers. The whole time I’ve been testing and tweaking my process.
What I’ve developed is a purchase offer that sends a message. It tells the seller and the seller’s agent that we’re professional, easy to do business with, detail conscious and sincere.
Here’s what we include to make it easy for the seller to say yes:
- Lender post-approval letter — one persuasive step further than a preapproval. This shows the loan is already approved, and needs only a preliminary title report!
- Buyer’s letter to seller — a personal way to say, “We love your home and wish to make it ours.”
- Buyer asset statements — documentation of liquid funds for closing escrow
- Buyer-signed disclosures — all 200-300 pages of reports and inspections acknowledged and agreed to
- Calendar of events — a timeline indicating when contingencies will be removed, date of closing, etc.
I also include a brief summary of the offer’s highlights, making it simple and clear for the seller and agent to evaluate. The package is a single PDF with all forms and documents compressed into one comprehensive file, emailed to the listing agent. I can’t tell you how happy I would be to receive an offer like that.
The determined would-be buyer did ask me to help her out and on our very first offer we put an end to her long ordeal of running in circles. It was a competitive bid situation, but her offer trumped the others by following my presentation formula. She is now very happy, living in a lovely, renovated one-bedroom condo with parking and views in the center of the city.
First look at new listings
In San Francisco County real estate, I’ve ranked in the top 2% of all 4,400 brokers and agents by business volume for the past three years. As a result, I’m a member of the prestigious, invitation-only San Francisco Top Agent Network (or TAN). My membership gives me (and my clients) access to off-market home listings and exclusive new inventory before other buyers hear of them.
Let me know if you’d like a first chance at these new homes as they’re introduced, and if you need help creating a compelling purchase offer.