The Edge Is Always The Relationship

[Dan Hellweg]

You submit an offer...and lost. Can you relate? Most likely, you can. However, do you really know why you lost out?

When you're working with an agent (or maybe you are the agent) do you know what your positioning really looks like and are you aligned with the seller's interests? So many times clients think that the most money wins the deal and this is not always the case. There are a number of factors in winning a deal. Below are a few of those (amongst others) and would love to hear any other ways you connect to win!

1) Know the Market | What just sold, where, and what were the terms? The seller's agent is very engaged in the area to ensure they maximize the deal for their client. This isn't just comps; this is an intimate understanding of what a micro-level market looks like and what's prompting the deals.

2) Ask Questions | Is there something particular the seller's agent is seeking for their client? Did your agent ask what those terms are?

3) Stay Focused | Investment properties are a different beast and if you're new to it, you need someone that will inform you not only on what the purchase looks like for today, but how it will impact you tomorrow. Make sure you have plans and can adjust going forward. A clear path will ensure a confidence is communicated in the deal and make have the seller lean towards your offer then.

4) What Other Listings Are Coming Up? | You lost this offer but does the seller's agent have other opportunities coming up? If your agent successfully connected with the agent, they may be excited to try and do an off-market deal. 

5) Follow-up | Is your agent checking in on the deal that's under contract? Showing you are still in the shadows, willing, ready, and able (and excited) is powerful stuff! Imagine if the buyer that won the offer begins to beat the seller up for credits/repairs. Your backup offer (even if not the next one in line) gets a lot of attention.

Overall, there is no ironclad way to win every deal. Sometimes, it's just not meant to be. But taking the steps above (and plus some other ideas/methods not listed) will allow you to know what is required to get the deal done or what happened that you did not win and know how to be positioned for success in the next!