Multiple Offer Checklist - How to Win

Checklist to review when writing in a multiple offer situation


Buyer Education
The Money
The Offer
Miscellaneous (Coming Soon Revisited, tips on procuring cause)

Download the .pdf multiple offer checklist here.

    How to Win

    Tuneup - Buyer Education - Educate yourself into credibility

    • Teach buyers how to win and tell  them it's competitive
    • Have the courage to be a truth-teller
    • 75% of offers are now in a multiple offer situation – (80%/20% success rate)
    • Question - "Are you willing to do what's takes to buy a home in today's market?"
    • Upside Potential of Market
      • “Doing Nothing” can be expensive
      • Market as opportunity
        • Interest rates
        • Prices
    • Listing Scarcity – time on the market 
    • List/L/S, Time on Market - Show them in MLS
    • Have an initial appointment (View Buyer Presentation)


              The Money

              • Full and unconditional loan approvals
              • Proof of Funds Letter
              • Large EMD (earnest money deposit)
              • Nonrefundable EMD (earnest money deposit)
              • Higher down payments
              • Appraisal Gap Financing (Get the gap financing clause here)
              • Pay seller’s closing costs


                  • Inspection items under $XX dollars no problem
                  • Shorter inspection periods and/or Pre-inspection
                  • Inspection limited to health, safety, environmental and structural items in an excess of $_________

                          The Offer

                          • Write on the first day
                          • Write over list price, your best offer, immediately
                          • List price with a $5,000 bonus for immediate acceptance (quick response)
                          • Be friendly without being overly aggressive or annoying
                          • Escalation Clauses 
                          • Gap Financing
                          • Use 3% down conventional rather than FHA 
                          • No concessions
                          • Give the Sellers time to move - Possession of Seller's Terms
                          • Accommodation and Convenience
                          • Flexible Possession

                          Contract clauses including those about gap financing, seller paid closing cost and others can be found here

                          The Human Factor

                          • Humanize the Buyer
                          • Buyer Letters – pull on the heartstrings
                          • Tell the listing agent about the buyers

                          The Listing Agent

                          • Call/text ahead and see if there is a special need
                          • Make it easy for the listing agent
                          • Your reputation precedes you and it’s about consensus
                          • Use Dotloop and make a very professional offer
                          • Send all the Stuff
                          • Act like you know what you are doing
                          • Call back fast

                                  Sellers and the Listing Agent

                                  • Net Sheet Presented with each offer
                                  • Use Multiple Offer Worksheet
                                  • Call Lenders on Pre-Approval
                                  • Highest and Best 
                                  • Never send them away, get completed backup offers
                                  • If the seller needs to sell, don't take the highest number, take the strongest buyers


                                      Coming Soon (Revisited)

                                      • Play it straight with all the offers
                                      • Create Buzz about the property 
                                      • Get Extra Buyers
                                      • Use the purchasers to market into the neighborhood

                                      Buyers and Procuring Cause

                                      • Hot markets generate procuring cause problems - Bigger problem now than ever
                                      • Get buyer agency agreement signed 
                                      • If your buyer has seen a house…
                                      • Call the listing agent first and ask for a written assurance of cooperation
                                      • Same thing on by owners