How do you get your offer to stand out in such a competitive market? It helps to have a winning strategy in your back pocket.

San Diego real estate agent Matt Huneycutt shares his strategy to getting his clients offers the best chance of being accepted and beating out the competition. Reach out directly to Matt Huneycutt at 619-993-8144

How Get Your Offer Accepted In A Multiple Counteroffer Situation.

Today, we're going to talk about how stressful the multiple counteroffer is for a buyer and how you can overcome that very easily.

When a seller gets a property that's well-priced and is very much liked, it's a good property, it's a great shape, it's got all the right finishes, all the right fixtures, it's very appealing to the masses, it's going to get a ton of attention. And when that happens, the price on that property gets bid way up.

This is very tough for a consumer, for a buyer, because you want the property, you're willing to pay what they asked for it, but now the price keeps escalating. How do you stop that?

It's very simple. When we go to look at a property, the first thing we're going to do is analyze how hot that property is. And if we know it's going to get five, 10, 15 offers on day one because it fits all those criteria, we're going to take a step back, take a deep breath and think, "What is the highest amount of money "we're going to pay for that property," from the jump. When we do this, it gives us a unique opportunity to apply a little bit of context and a little self-awareness to our offer. And we say, let's not go in at offer price.

Let's decide what the highest offer we're willing to pay for that property is and shoot for that from the gate.

Here's how it works. Instead of paying the asking price for that home, we leap ahead, we put our highest bid upfront, and now we have taken the power from the sellers over to our side. Now we've placed the sellers in a position where they have to choose. Do they want our offer well above the asking price now or do they want to take a chance at having other people bid up to that number later and then losing our strong offer from the gate?

Now you might be thinking, "Why would I go "and throw all this extra money at the house?" The choice is always yours, but given the stress that goes along with a multiple counteroffer situation and the opportunity to be bid way up, even more so than what you initially wanted to spend for the house, we find that going ahead, getting used to a number, getting comfortable with a number and saying, "Hey, this is my best offer, if it doesn't get accepted, we're walking away," is so relieving that it's typically worth it just to put that number out in the first place.

Now, what happens if the seller doesn't bite and they don't take that initial high offer? That's fine. If it gets bid up beyond your number, you walk away and we move on to the next house. Otherwise, the seller might come back, do a multiple counteroffer with other people to bring them up to your number. But typically we find that if you're the first person to put in that high number, that first strong offer, you're typically in the number one spot to get selected amongst all offers that are the same.

So, in summary, the best way to deal with a multiple counteroffer situation is to prevent it in the first place. Jump out ahead, put in your best offer, put your stake in the ground, and tell the seller, "Take it or leave it." For this and other great advice on how to get your offer accepted in today's market, reach out to us anytime at 619-993-8144

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