Writing an offer in California’s competitive real estate market isn’t as simple as naming a number and crossing your fingers. It’s all about strategy, timing, and those little details that make sellers sit up and take notice. At Relaxed Agent, we’ve helped tons of agents land those winning deals, and we’re here to spill the tea on what really works. Ready to gain an edge? Let’s get into it.
1. Start Strong with a Local Lender and Pre-Approval
In a market where speed and credibility reign supreme, having a pre-approval from a well-known local lender can set your offer apart. Sellers trust local lenders more because they’re familiar with the area, and they tend to move faster than big national chains or online lenders. If possible, choose one who can deliver a loan commitment within two weeks.
Pro Tip: Have your lender reach out to the listing agent when you submit the offer. This personal touch adds serious credibility and lets the seller know your buyer’s financing is rock solid.
2. Up the Earnest Money Deposit
Want your offer to scream “we’re serious”? Boost that earnest money deposit. Typically, it’s about 1% of the offer price, but bumping it up (or even making part of it non-refundable) signals to the seller that your buyer is willing to put some skin in the game.
3. Keep Contingencies Slim and Trim
Sellers love clean offers. Consider limiting or waiving contingencies like inspections or appraisals, or at least shortening the timeframes. If your buyer’s got extra funds on hand, you could modify the appraisal contingency to cover gaps between the offer price and the appraisal value.
Key Strategies:
- Appraisal Gaps: Offer to cover a certain amount if the appraisal falls short of the offer price.
- Inspection Mods: Agree to limit inspection-related requests to major health and safety concerns only.
4. Write a Heartfelt Offer Letter
Sometimes, a heartfelt letter can tip the scales. Have your buyer write a sincere note to the seller, sharing why they love the property and how they see their future there. Mention specific features the seller has updated or taken care of and connect them to your buyer’s lifestyle.
5. Align Your Offer with the Seller’s Ideal Terms
Get the scoop on what the seller really wants. Need more time to move? Offer a rent-back period. Want a quick close? Let them know you can make it happen. When you cater to the seller’s specific needs, your offer becomes that much harder to resist.
6. Embrace Tech to Stay Ahead of the Game
With tools like DocuSign and Dotloop, you can stay lightning-fast in a market that doesn’t wait. Platforms like Skyslope and Brokermint keep documents organized and accessible, helping you avoid delays caused by missing paperwork.
Pro Tip: Set up automated reminders in these platforms for key deadlines to keep your offers on track and your clients in the loop.
7. Sweeten the Deal with Seller Concessions
Think outside the box: Offer to cover part of the seller’s closing costs, property taxes, or throw in a home warranty. It’s an added incentive that doesn’t inflate the purchase price but makes the seller feel like they’re getting a little something extra.
8. Consider “Sight-Unseen” or Pre-Market Offers
In super-hot markets, getting ahead of the competition is key. Submitting a “sight-unseen” or pre-market offer can be the secret sauce to locking down a property before it officially hits the MLS. Perfect for buyers familiar with the area and willing to move quickly.
9. Build Rapport with the Listing Agent
Winning offers aren’t just about terms, they’re about relationships. Make sure you, as the buyer’s agent, build a strong rapport with the listing agent. Be transparent about your offer’s strengths, stay available for questions, and proactively address any concerns.
Pro Tip: If you can, hand-deliver the offer. This personal gesture can help it stand out, especially with For Sale By Owner (FSBO) properties.
10. Use an Escalation Clause in Multiple Offer Situations
Competing in a bidding war? An escalation clause can give your buyer an edge without making them overpay. It automatically increases your buyer’s offer by a set amount over the highest bid, up to a predetermined limit. This way, they stay in the running without going over budget.
Partnering with Relaxed Agent Gives You the Upper Hand
Winning offers in California’s market isn’t just about playing the game - it’s about playing it smart. At Relaxed Agent, we’re here to help you master your transaction process, ensuring you can focus on strategy and relationships while we handle the compliance and paperwork.
When you work with us, we:
- Draft offers and agreements, including the BRBC.
- Review documents to make sure you’re compliant and current with the latest industry standards.
- Coordinate with all parties to keep your deals moving forward without a hitch.
We’re here to help you stay compliant, reduce your workload, and close more deals with fewer headaches. Ready to crush it in this market?
Let’s Get Those Winning Offers Submitted
Contact Relaxed Agent today to learn more about how we can streamline your workflow and help you submit standout offers every time. Together, we’ll make your buyer’s next deal their best one yet!
