Review of Zillow‘s: “How to Beat Big Investors to Good Properties” (Zillow 2012). How to Beat Big Investors to Good Properties. Retrieved from: http://www.forbes.com/sites/zillow/2012/06/13/how-to-beat-big-investors-to-good-properties/
The article above gives you an insight on “how to beat big investors to good properties.” I know helping your client find a great deal on a property is already hard work, but actually making an offer and having that offer accepted is another mission on its own. Unfortunately big time investors seal the deal by being one of the first to make a cash offer. As a realtor, you can help your client’s offer stand out with a few tips found in Zillow’s article.
The following three tactics are common sense, but if used properly, they could be the difference between making a sale or not. According to Zillow, the way to make an offer stand out is by “taking a qualification letter with you, including a personal letter, and asking in person .” Pretty simple right? If you are ever in doubt, just remember T.I.A. (aunt in Spanish).
Lets start off with the personal letter. By including a personal letter, you introduce your clients and their family, versus an investor who just wants to make money. Think of it as a something similar to a cover letter for a resume. In the cover letter for a resume you add key points as to why you are qualified for the position. In this letter, you should include key points that explain why your client’s family are qualified to purchase the seller’s house. Of course, this is a letter your client writes and you will turn in on their behalf. Tell your clients to get as creative and sincere as possible. The seller might get emotional when he reads that a family wants to make new memories in a house where he created lasting memories. Who knows, maybe the seller does not want to move but is forced to move because of a job offer, a sick family member, or some other reason.
Including a personal letter reminds me of a tactic for a sweepstake. Mostly everyone uses white envelopes for their submission to a sweepstake. If you buy neon colored envelopes and send your submission in a neon colored envelope, your entry will stand out. When it stands out it has a better opportunity to be chosen as the winner. After including a personal letter with the offer, your offer will stand out just like the neon envelope stands out.
First impression is everything and I do not think that an investor will give off a better impression via email, phone, fax, etc over a good impression in person. Don’t get lazy and just fax the offer. When you go in person and turn in the offer to the seller, the seller can put a face and personality to the name of the person attempting to purchase his home. Make sure you look presentable for the first meeting because you will be a direct representation of your client. I always say, “its better to be over dressed than under dressed.” Put your best foot forward because investors will make sure Benjamin Franklyn is always dressed for the occasion.
Last, “take a lender pre-qualification letter and proof of funds even if the seller isn’t requiring you to” (Zillow). Its always good to be prepared. If you have the letter with you, the seller might take you more seriously. Any doubts the seller might have had about your client’s finances will be put to rest with the pre-qualification letter and proof of funds. The bar might be raised after doing that and then the seller might require anyone with an offer to bring a pre-qualification letter attached to the offer. The offerors might not have enough time to acquire a pre-qualification letter before the seller has chosen your client to be the new owner of his home.
Going the extra mile is always the best route. When you have stiff competition like investors with a lot of cash, its the minor details that investors overlook that will give amicable people a chance at buying their dream home. Following these three tactics will keep you one step ahead of the competition. Not only will you make your clients happy after closing the deal, but you will make your pockets happy too.
Now that you have become an expert at making your offer stand out, you will need to find clients to submit offers for. With an Agent BizzUp Website, you will be able to target new clients since our websites are search engine friendly. If you are interested in generating leads, Agent BizzUp’s Search Engine Marketing Service can help. Our Search Engine Marketing Team has the experience needed to get you qualified visitors.
To read the entire featured article please visit: http://www.forbes.com/sites/zillow/2012/06/13/how-to-beat-big-investors-to-good-properties/