In today’s competitive real estate market, buyers need every possible advantage to make their offers stand out. With limited properties available and multiple offers on each, it’s crucial to understand what sellers really value in an offer. While sellers are of course focused on price being first and foremost, other elements can also be of great importance to sellers. Here’s how you can give your offer the best chance to succeed beyond just the dollar amount.

1. Understand the Seller’s Priorities

The first step in making an attractive offer is understanding what’s important to the seller. This requires a conversation with the real estate agent to gauge exactly what the sellers are looking for. While the highest price often wins, there are situations where sellers may prioritise other conditions over the price.

2. Minimise Conditions

Sellers prefer offers with fewer conditions. If possible, consider waiving some conditions where you can to give your offer a competitive edge. For instance, a cash offer or one with pre-approved finance can be more attractive than a subject to sale offer as there’s less risk involved. We’ve seen countless situations where a seller has chosen a lower offer with far less conditions just because it’s easier and it takes the stress out of the transaction.

2. Flexible Settlement Periods

The timing of the settlement can be crucial for sellers. Some sellers might need a quick sale due to personal reasons, while others may prefer a longer settlement period to align with their moving plans. Being flexible with the settlement date and accommodating the seller’s timeline can make your offer stand out. Sometimes, offering a rent-back agreement, where the seller can stay in the home for a period after closing can also be a winning strategy.

3. Strong Deposit

A larger deposit can show the seller that you are serious about your offer. This deposit acts as a show of good faith and can provide the seller with more confidence in your commitment to the transaction.

4. Quick Response Time

Being prompt with your offer and responsive to any counter offers demonstrates your eagerness and seriousness. In a competitive market, hesitation can mean losing out to another buyer who is quicker to act.

6. Clean and Simple Offers

Keep it simple! Sellers often prefer clean offers with straightforward conditions. Complex offers with numerous clauses and demands can be off-putting and may result in your offer being overlooked, even if it’s at a higher price.

7. Address Repairs and Improvements

If the property inspection reveals minor issues, consider handling the repairs yourself instead of asking the seller to fix them. This reduces hassle for the seller and can make your offer more attractive.

Crafting a winning offer in a competitive real estate market involves more than just offering the highest price. But there are ways that you can ensure your offer stand outs, and these all start with having a conversation with the real estate agent to understand what exactly the sellers are looking for. Remember, every seller is different, and by asking the right questions and working closely with your agent, you can uncover the key factors that will make your offer the best one on the table.