Brady Nelson directly addresses camera: Most agents think that if a buyer offers a price over listing, they'll have a better change at getting the offer accepted in a multiple offer situation. I've found that's just not true. It's all about the terms.

I'm Brady Nelson, a Realtor with eXp Realty and member of the Megan Farrell Team in Palm Coast. Let's take five minutes to talk about best practices for helping get your buyer's offer accepted when they are competing with multiple offers. 

My partner and I were recently working with a buyer and lost two properties that had multiple offers. Finally, on the third property, we talked to the listing agent and got a handle on what the seller's needs were. We tailored the offer with terms that catered to that seller's needs and our buyer got the property. The seller had other offers for more money than our buyer offered, but we hit on a term that was more important than price. In this case, the buyer was able to accommodate the Seller's desire to close quickly.  In addition, the Seller appreciated the buyer was using a VA Loan, as they were a veteran themselves. 

The No. 1 recommendation I have is to build a rapport with the listing agent. Be positive, explain how excited your buyer is about seeing the property. It starts even before your buyer makes an offer. Show up on time, talk to them about the property, let them know if you're running late. 
   
Now that you have a rapport with the listing agent and your buyer has seen the house, talk to the listing agent about the seller's motivations. What are their goals? It's not always about money. It could be that they need to get out quickly to relocate or they want a buyer who can pay cash. That will help your buyer frame their offer.

I always recommend that you try to make a connection between the buyer and seller, adhering to Fair Housing laws, of course. For example, if your buyer is touring a house and you see a photo of a family member in a military and the buyer is also from a military family, I might say to the listing agent, “Hey, this offer is from a family in the Air Force too. I noticed that the sellers served in the Air Force, as well.” Buying and selling a house is an emotional transaction, so finding points of connection that stay within the Fair Housing guidelines makes it more personal.

For the offer itself, there are several terms I've found that help get sellers to notice and accept your buyer's offer. If the sellers are motivated to accept the highest offer, an escalation clause can be added stating that the buyer will go a certain amount above the highest offer made.

Another thing I may suggest is for the buyer to make a higher initial escrow payment or offer to put down an additional amount after the inspection period. For example, they may put 20% down with the offer, then promise another $5,000 down once the inspection is completed. I will photocopy the deposit check and include it with the offer letting the listing agent and seller know that we have the check in hand ready to drop off to the title company as soon as the contract is executed. 

To give the seller confidence in the buyer, make sure they have a strong mortgage approval. The additional escrow deposit plus the strong mortgage pre-approval will show how serious your buyer is about getting the home. I will even call a home inspector and tentatively schedule the home inspection before sending in the offer. Then, I'll include documentation that the home inspection is already scheduled, proving the buyer wants the deal to close flawlessly and quickly. Shortening that inspection period is a great good faith incentive for the seller, plus if you can offer a 7-day home inspection, the seller only risks taking the property off the market for one week rather than the 15-day standard.

Finally, when you're ready to present the offer to the listing agent, pick up the phone and call them. We've been on the other side where an agent emails us an offer and never follows up. Then, a day later, they ask if we saw their offer. Real estate professionals are inundated with email every day. When you send an offer, confirm that it was sent by texting or calling the listing agent. 

Just by using these techniques, I've won the property for the buyer several times. I'm a firm believer that it's not always about the money. People will pay more to go to a Ritz Carlton, right? That's because they know the experience will be smooth. It's the same for real estate, the sellers may be willing to take less for their home if they know the transaction will go smoothly.

Real estate is all about relationships and connections. By making those and proving you are a trusted professional, you'll win more multiple offer situations. After all, the transaction starts between two Realtors.