How Buyers Can Stand Out in a Multiple-Offer Market

When high demand and low supply create a seller’s market, house-hunters likely will find themselves competing for a property with any number of other hopefuls. To give their clients an edge, real estate agents can create a buyer profile, to be submitted along with the buyer’s offer. The letter should be sure to address the No. 1 concern of home sellers: whether the deal will close. Including information such as the buyer’s occupation, job security, financial statements, and even children’s ages can demonstrate the bidder’s commitment and consistency and reassure the seller that the deal will go through with few complications. The buyer agent also should write about how the listing is perfect for the bidder. For instance, a client of Myra Nourmand — an artist — fell in love with a home with a guesthouse. “She saw the guesthouse at the end of the yard and immediately knew it would be the ideal place to work,” she explains. “Having an art studio made the listing into the home of her dreams, so we added that information to the letter.” Finally, when crafting the buyer profile, an emphasis should be placed on the community’s strengths — such as proximity to the workplace, which can shorten commutes and improve quality of life. | Read More