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How to win in multiple offers!

Multiple offers?! Here's how the winners win... Hint.... it's not just price.

This morning I found this in my email from some great clients who just moved to Vancouver Island from Calgary.

"I just wanted to say thank you for all these tips you emailed us. We used several of them and were successful in buying a home here on the Island. After losing two houses, we used some of the tips below and we “won” out against 8 other offers on a property. We take possession mid-march. Lots to do to make the move!"

I dug through my sent emails to see what I told them.... It must be good! Here's what I sent....

Here's a few tips on multiples.... I think I actually did a video on this, but it still needs to be dug out and processed.

  1. Don't get into multiples. Move quickly and negotiate strong. The early bird often gets the worm. Of course, sometimes they want / expect multiples which can be frustrating if you get there quickly and they still drag their feet.

  2. Cover letter. Tell them about your family and appeal to them. For example, if they take pride in their garden tell them how much you look forward to growing stuff there... If it's grandma's house, talk about how much it reminds you of grandma's house.... That kind of thing. Be authentic, people want to sell to good people who will also enjoy the home.

  3. Closing date can be powerful.... What does the other side want? Can you give them that?

  4. Big deposits - looks serious.

  5. Have your agent get in front of the listings by networking with other agents and posting within groups.

  6. Pre-approval letter with your offer if you have conditions.

  7. Copy of your big deposit cheque with your offer

  8. Put in back up offers.... If offer A falls through, then your offer can become the primary rather than the listing agent calling a bunch of other agents and getting right back into multiples.

It's not just price that win's in multiple offers. Speed, strategy and negotiation ability can go a long-ways towards getting the house.

If you want an agent who will do the extra work for you, call us!

Happy house hunting!

Steve Throndson


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