This blog post is about presenting offers, even if there are nine others
A real estate broker that I used to work with called me up the other day. We have both moved on to other brokerages and he just wanted to catch up. It has been a few years. I always liked him. He has been in real estate almost three times as long as I have.
He actually sidelines as a sales trainer for his brokerage.
I’m not a big fan of sales trainers, mostly because a lot of their tactics seem to be old school. But I do like some things, like accountability and motivation and even when I disagree with sales training for being out of date, it may still work. It just doesn’t work for me.
Anyway, in our conversation, the topic of offer presentation came up and my broker friend said that he always presents. He said that it is always worthwhile. Given the chance, an agent should always present, he said.
I disagreed. I argued that if there are nine other offers and you know yours is not going to win, why bother? And we know. Any realtor with a few years of full time experience knows that a low-ball offer loaded with conditions is not going to cut the mustard.
The mustard is going to be cut by an over-asking condition-free offer every time.
But my broker friend did make some good points about reading the room and being in the know and in the now when an accepted over-asking offer falls apart on financing – not because the buyers can’t get a mortgage, but because the bank refuses to give funds for a home that went 10% over so-called ‘market price’.
My broker friend’s reasoning is anecdotal and any argument can be proven with anecdotal evidence, but it is still valid. There are always secondary reasons to present, one of which is to get to know other realtors and that is almost reason enough.
Last weekend, I presented an offer on behalf of my clients. There were four offers. Ours was the second best offer but because I was there, I negotiated, compromised and beat out the other offer, much to the happiness and appreciation of my clients.
Clearly we won because I was there. My old broker sales trainer friend was right. I should call him and tell him.