3 Ways To Make Your Offer Stand Out in a Competitive Market

In a competitive market where inventory is low, winning the offer isn’t about luck—it’s about strategy. Even then, it’s challenging for buyers right now.

If you’re ready to make a strong offer on a home, here are three tips we share with our buyer clients to help them stand out and win in multiple offer situations.

1. Get a real pre-approval letter.
Not all pre-approvals are created equal. Some are full of conditions, such as “subject to verification of assets” or “verification of your credit,” and either will substantially weaken your position.

It’s true some agents skim a pre-approval and get right to the number and may miss these details, but a good agent will read every word when vetting the buyer. I sure do.

A strong pre-approval comes from a reputable LOCAL lender who has already verified that you have sufficient funds to close liquid in the bank and that your credit checks out.

Ideally, the only conditions on your pre-approval letter should be:

• Subject to satisfactory appraisal
• Subject to a clear and transferable title
• No changes to your employment or income

If there are other conditions than that, your pre-approval does not look solid and you look risky to the agent and the sellers.

2. Don’t match your pre-approval letter to your offer amount.
There’s a myth that if your pre-approval is higher than your offer, the seller will try to negotiate the price up.

That’s certainly not true for us; in fact, a pre-approval letter that is the same amount as your offer makes it seem like you’re buying at the very top of your budget—and that can be a red flag.

Instead, have your lender write the letter for a little more than your offer, maybe two or three percent. This shows you’re well-qualified for your offer amount without giving the impression that you’re stretched thin.

3. Skip the personal property.
We get it—those barstools or the patio set might look amazing. But when you include personal items not listed in the MLS, it can make things messy.

Only include the items the seller is offering. You’re buying real estate, not furniture. Asking for extras could turn off the seller or worse, could lead to your offer being rejected over something like an old fridge in the basement.

We’re always peeling back the curtain here and discussing real-life real estate pitfalls and good practices. If you found this helpful, please like and subscribe.