Winning in Multiple Offer Situations: 5 Important Factors

When you’re looking for your next home in the North Atlanta market, having a top local REALTOR guide you through the entire process is key. Currently, in the Alpharetta, Roswell, Johns Creek and Milton markets, buyers are still finding themselves in multiple offer situations, competing for their dream home. Losing out in these situations can be really discouraging, but there are ways to avoid finding yourself on the losing end of a multi-offer battle. HINT: It starts with using the right REALTOR!

Below are 5 Factors that can impact your chances of winning out against the competition:

1. Busy/Unavailable REALTOR:
Does your agent have the time to be 100% dedicated to your transaction? We often see other Buyer’s Agents missing notifications for deadlines to submit offers or failing to respond to communication needed to fully evaluate an offer that was submitted. Hiring an experienced REALTOR with the support of a team can help to ensure that your best interest is looked after 24/7.

2. Attractive Offer:
Understanding how to write an attractive offer involves more than just pricing. When submitting an offer, especially in a competitive environment, understanding current offer standards and common practices is critical. Factors like the length of the due diligence period, contingency terms and financing terms are key.

An experienced Buyer’s Agent is going to know what the current market standards are and what will be most attractive to sellers. They also understand the importance of ensuring their clients are aligned with a quality lender who is easy to communicate with and won’t jeopardize a transaction.

3. Representation:
We frequently receive calls from unrepresented buyers that want to submit an offer on our listings without using a REALTOR, but when the time comes, they do not have the proper forms or do not even know how to write an offer.

The inability to get access to listings, write contracts, conduct inspections, manage financing, along with a host of other tasks puts unrepresented buyers at a significant disadvantage. Many unrepresented buyers believe they can save on the Buyers Agent commission if the seller is offering one, however, this is typically not the case as the current GAR listings agreement clearly states the commission shall be paid to the Broker. In other words, the 3% “presumed” commission savings would remain with the listing agent, unless otherwise agreed upon.

4. Market Knowledge:
Understanding the local housing market takes time and experience. Every market is different in Metro Atlanta and across the United States. Understanding the nuances of each micro market— home values, desirable terms, etc. can make or break an offer. Be sure to hire a REALTOR who has a thorough knowledge of your desired location/market.

5. Reputation:
An experienced Listing Agent is going to consider a number of items when presenting offers to their Seller, and one of them is the Buyer’s Agent who is presenting the offer. The appeal of dealing with an experienced Buyer’s Agent who is professional and known to be reasonable can go a long way.

Unfortunately, we have seen transactions jeopardized or even entirely terminated because of Buyer’s Agent’s personalities or lack of experience or understanding. Ensuring you have a professional and experienced local REALTOR is key.

At Robin Martin & Associates, our Real Estate Agents are supported by a team that can help write offers while our Agents are in the field, handle marketing, handle contract-to close-paperwork, and a host of other tasks, ensuring our clients are taken care of on a timely basis, and we have the reputation and experience needed when working with Listing Agents.

By understanding these critical factors and working with an experienced, professional REALTOR, you can significantly improve your chances of having your offer accepted in this competitive market!