11 tips for creating a real estate proposal that will not go unheeded

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So you have buyers who have been disappointed in the past and need a win. They have found the last home of their dreams and are ready to abandon any contingencies, pay any price and close tomorrow if necessary to make this home work.

Now you need to craft a proposal that balances market realities with the need to protect your customers. Your mission, if you choose to accept it, is to prepare an unmistakable contract with incredible time constraints in a merchant market that still protects your customers.

That’s all you need to know about how to create a clean and attractive contract and what mistakes to avoid.

The biggest mistakes in contracts

The high-stakes real estate market we’ve seen in recent months has generated both a sense of urgency and a willingness to win at any cost, which is adapted to bad decisions and too quick action. This can lead to many mistakes that could be easily avoided in a less heated market. Here are some of the most common ones.

1. Leave important information blank.

When submitting a proposal package, it is important to make sure everything is complete – and complete. right… This prevents misunderstandings and can even prevent fraud.

Cameron Miller

According to Cameron Miller of Cameron Miller Real Estate in Toronto, there should never be empty spaces in real estate contracts. “Blanks could lead to you being prosecuted,” he said, “or worse, render the contract unenforceable.”

Miller suggested that if there are clauses that do not apply, agents should use “N / A” or use a dash rather than leave something blank. “This way there will be no confusion and no manipulation of contracts,” Miller said.

2. Handwritten sentences with crossed out changes.

Sometimes, due to haste or negligence, agents rushing to fill contracts on tight deadlines may end up making changes on the fly. This may result in jumbled, “chicken” offers that make you look unprofessional and your customers less than attractive.

One way to avoid this is to master the mobile version of your transaction management system so you can make changes appropriately wherever you are. Instead of strikethrough, cover the changes with a new text box so you have a clean copy of your contract items to avoid confusion.

3. Lack of financial information.

In a rush to get the listing agent’s package of proposals, some agents may go ahead and send their part of the contract, followed by a letter from the lender, a photo of the EMD check, and other additional items. This is not only confusing and inconvenient for the listing agent, but also undermines the influence and integrity of the offering itself.

Make sure you have all the elements of your proposal before submitting it. Check with the lender for supporting documentation early in the process, and make sure you have multiple ways to contact their office when you are pressed for time.

4. Self-contained notes instead of standard forms or legal provisions.

You can add elements to the contract that are not part of your standard practice, for example escalation clauses or incentives for sellers. Talk to your broker or mentor if you have any doubts about which form to use or how to fill it out, especially if you have no experience with certain elements of the process.

If you need help drafting a non-standard clause, consult a lawyer or talk to your broker about the standardized language you should use. Do not try to formulate legally sounding language for a clause or condition. Make sure your clients are covered by the appropriate terms, if necessary.

5. Disordered accompanying documentation out of order.

One of the worst things you can do in plural sentence The situation is to send a PDF that is out of order and the items were included willy-nilly. The listing agent is not required to present your disorganized offer to his client in a favorable light.

Include a cover letter with the main elements of the proposal and don’t forget to include note to listing agentthanking him or her for his time and asking for more information if needed.

Sometimes the biggest difference between you and your closest competitor is how you present your offer, not the offer itself. Make sure that this makes it easier for sellers to select your customers.

What is needed for a winning contract

To stay competitive and maximize your customer’s chances of success, you need to make sure each buying process includes the following best practices.

1. Clear communication

Maintain open communication channels with all negotiators, including your clients, listing agent, lender and any other interested parties. If you tend to struggle with written communication, consider the services of a copywriter, copy editor, or highly trained professionals. virtual assistant which can help ensure clarity in your emails, cover letters, and other written elements.

Also, while it is sometimes more convenient to send a quick text message or email, there are times when a phone call is the best choice. If you find yourself switching from one side of a transaction, a call-forward can allow you to quickly clear up the issue or stumbling block.

2. Awareness of the seller’s priorities.

Understanding what’s important to the seller can help you make a winning offerwhether they’re worried about timing, not sure where they’re going next, or just looking for additional confirmation of your buyer’s intent.

If possible, contact the listing agent to learn how to prioritize the elements of your proposal.

3. Reliable professional network

Likewise, the more you know – and the more agents you know – the more likely you are to build rapport and gather the information you need. Even when you are busy, it is important to fulfill your professional responsibilities and engage in networking opportunities.

It allows you to communicate, connect and receive information that can pay dividends for months or even years to come.

Mistakes to Avoid

Just as some best practices are more important than ever, there are some practices you should avoid in today’s marketplace. Please note the following.

1. Buyer’s love letters

While they not banned yet all over the place, customer love letters seem to be fading away soon. Make sure you are familiar with your state’s policies for these offer add-ons, as well as your broker’s position on their use.

In most cases, sellers submitting multiple bids are more impressed by the clarity and completeness of your buyer’s financial records than by the emotional appeal.

2. Universal approaches

Kevin Leibovitz

The fact that everyone in your market is giving up on contingencies doesn’t mean that this is the right approach for your customers. According to Kevin Leibovitz, president of Grayton Mortgage, buyers should negotiate based on their personal financial situation, not adopt strategies they cannot support.

“If you drop the contingent funding, will you be able to show up and pay in cash? If not, then you cannot do it, ”Leibovitz said. “If you ditch the appraisal contingency, can you pay the additional difference so you can still buy the property? If you only need to defer 5 percent and the score is less than 5 percent, then it’s game over. “

3. Undermining the position of your buyer.

First of all, it’s important to remember who your client is. If you represent buyers, your job is to help them make smart, informed decisions that work for them, not close the deal at any cost.

In addition, you need to remember that everything you do is from how you communicate (or not communicate) with listing agent How you present an offer is a reflection of your client and can significantly affect the outcome of their negotiations.

Stay tuned for updates: Real estate professionals from all over the country have named the biggest mistakes they see in offers and contracts.

Christy Murdoch – Realtor, Freelance Writer, Trainer and Consultant, and Owner Real estate writing… She is also the creator of the online course. Creating a Property Description: A Step-by-Step Formula for Reluctant Real Estate Writers… Follow the property record on Twitter, Instagram and Youtube

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