Matthew Maschler:
Welcome to the Realestate Finder Podcast.
Staci Garcia:
I’m Stacey Garcia.
Matthew Maschler:
And I’m Matthew Maschler, the real estate finder@realestatefinder.com. And on today’s episode, we are going to go over my top 10 tips to get your offer accepted in this crazy seller’s market. How’s that?
Staci Garcia:
Awesome.
Matthew Maschler:
Awesome. Alright, so the number one top 10 tip to get your offer accepted in this market. Cash over financing when possible, cash is
Staci Garcia:
King.
Matthew Maschler:
Cash is king and it’s just, if the seller gets multiple offers and one’s cash and one’s financing and all the other terms are the same, we know the seller’s going to take the cash offer, no reason not to. No reason to take a financed offer when a cash offer is on the table. Sometimes the seller will even take a cash offer when it’s less than a financed offer. I don’t think that they should take too much less for that, but sometimes they do. And I think the important thing to note is when the buyer says, well, well that’s not fair. How can I get my offer, offer accepted? Well, it’s not about fairness, right? If your mortgage is not approved for whatever reason and you have to cancel the contract, seller doesn’t want to take that risk and the buyer needs to take that risk. It’s just a question of who’s going to take the risk. So you are allowed to make a cash offer even though you’re getting financing, you just don’t have the protection if you don’t get approved for whatever reason or if the property doesn’t appraise, you don’t have the protection of canceling. So you can take risk, you can make the cash offer and basically your deposit is at risk if you cannot get your financing in order, but you should know, you know your finances better than the seller. You should know your financing.
Sorry, there was a buzzing. I got confused there. So you should know your financing and if you work with your mortgage broker, get, and we have plenty to choose from with realestate finder.com, we work with some great people financing. Know you’re going to get approved and be confident to make the cash offer, even though it’s financing. Your risk is then if it doesn’t appraise, if the house doesn’t appraise well, as long as you are aware of that and a lot of people are putting in clauses that they’ll pay the difference anyway. So you can always bring money. If the house doesn’t appraise, you can bring money and make up the difference. Also, if you don’t think you have money, you can use some of the deposit you were going to use on the mortgage, you were going to borrow 20%. Maybe find a program that if the house doesn’t appraise, you could borrow 10% and then use the difference to put down and make up the difference on the appraisal. So work with your mortgage broker in advance, get a plan, make a cash offer so that you can beat out other offers that are financed offers in this crazy market.
Staci Garcia:
Would that be taking out the mortgage contingency?
Matthew Maschler:
You don’t have a mortgage contingency?
Staci Garcia:
Would that be taking out the appraisal contingency?
Matthew Maschler:
So the way these Florida, as this contract is written, there is no separate appraisal contingency. It’s just that in the mortgage contingency, if you don’t get your mortgage for whatever reason on the terms written in the contract, you have the right to cancel within the mortgage contingency time period. So if the house doesn’t appraise that you use the same mortgage contingency to cancel the contract, there is an addendum, a separate appraisal contingency that you can use in contracts and even on the cash offer. Before this market, you could have a cash offer, still have the appraisal contingency, but most of the time most offers that have a mortgage contingency, they don’t have a separate and independent appraisal contingency. There was a slight change to the contract a few months back in December of 21, there was a revision to the IIS contract Prior to the revision, the mortgage contingency had a provision that if the house didn’t appraise, you could cancel the contract even after the time of, let’s say you had a 30 day mortgage contingency even later, even past the 30 days and really up until closing.
So there was always a little bit of risk of the property not appraising. After the mortgage contingency, they cleaned up the ASIS contract. I called it a backdoor appraisal contingency, but they cleaned it up. They matched the appraisal contingency to the mortgage contingency period. So if you have a 30 day mortgage contingency, get your appraisal in within the 30 days, but in the cash contract you don’t have a mortgage contingency, so you’re just at risk. You can lose your deposit if you’ve default under the contract, but you’re asking the seller to take a risk on you and you’re not trying to take a risk on yourself. The seller doesn’t want to take the risk on you. Make the cash offer instead of the financing to compete and get your offer accepted in this market. Alright, number two, increase your deposit very often. Quite often. Well, the way the contract is written, there’s a first deposit and a second deposit.
Usually the first deposit is something nominal. In the old days before the internet, we actually included the $1,000 check with the offer. Now it’s usually we do it within three days. It’s a small deposit and then after the inspection period, a second larger deposit comes into play. And I am advocating people to increase both deposits. Increase that first deposit, you’re not at risk. There’s still a home inspection contingency. If you cancel the contract, you cancel the contract, get your deposit back. But if you come in swinging with a 20,000 or a $25,000 first deposit and everyone else is offering the same $1,000 first deposit or 3000 or $5,000 first deposit we’ve been using since 1987, well that is certainly going to shine a light on your offer. So increase that first deposit, increase that second deposit as much as you can. Give 10%, 20%. Give the whole amount, right? If you’re going to have a 30 day closing, if you are a cash buyer, if you’re fortunate enough to be able to buy in cash, make that second deposit, 50% half the contract price or the whole contract price. Put up the money, here’s the money, it’s in a bag, Mr. Seller, take it. The money will be sitting there at the title company on the day of closing. No risk of the buyer coming to closing with no money. So increase that first deposit, increase that second deposit as much as you can make large deposits.
Staci Garcia:
Sounds good,
Matthew Maschler:
Sounds good. Okay, the number three tip to get your offer accepted in this market. Shorten the inspection periods. I think the default was seven or 10 days for an inspection period. 10 days is an eternity in this market.
Don’t go 10 days, don’t do seven days, do a three day inspection, five day inspection. You have to do something that you’re comfortable with. Make sure you have your inspector lined up. The inspectors are busy, but we at real estate finder can get your house inspected, shorten those inspection periods. You still have these people who are making offers site unseen and then they have their seven day inspection period and the sellers get burned. There was a bidding war and all of a sudden now the buyer first for the first time shows up, sees the property, goes, nah, I don’t like it. They cancel and then the property has to go back on the market. Seller doesn’t want to deal with these long inspection periods, so make sure you shorten your inspection periods. If you do want to buy the house, you know that it’s as is. Get the inspection, so if there’s any leaks, if there’s any termites, et cetera. So you know what you’re buying. It is important to get the property inspected. I don’t recommend people not getting an inspection unless they’re going to do, they know they’re going to do major work to the property. It’s important to know what you’re buying, but do not drag out those inspection periods.
Staci Garcia:
What do you think about people that offer an inspection when they’re selling the house that just happened to us in Stonebridge?
Matthew Maschler:
That’s interesting. It is good if, certainly if you’re preparing your house for the market and you get your own inspection and then maybe make a couple of fixes compared to that. I never truly trust the seller’s inspector or inspection,
Dunno how old it is and certainly don’t know any biases. I do like to get my own fresh inspection unless I know I’m buying a fixer upper. But if the seller does have a recent inspection from a reputable company, I would imagine that that is important to see. Would I waive the inspection period? Maybe. I think it’s important for the seller if they have that inspection to put it in the m lss to put it in the documents so that we can review it right away. I still think you should have that one or two day inspection period. Look at the inspection report, see if you’re satisfied with it. That’s really, it’s the buyer’s decision. It’s a lot of money and I would advise the buyer still to get an inspection report, but if the house looks like it’s in good shape and it’s
Staci Garcia:
Sometimes somebody backed out, let’s say not because of inspection, but then they shared the inspection with the seller and now the seller has the inspection
Matthew Maschler:
And
Staci Garcia:
The next buyer comes up and the seller can say, you don’t even need to get an inspection. I just had one last week if
Matthew Maschler:
I was selling in this market, now that you say that if I was selling in this market, I would get an inspection and put it on the MLS and say, no inspection period as is. Here’s the inspection.
Staci Garcia:
There you go.
Matthew Maschler:
Because again,
Staci Garcia:
Why should you wait?
Matthew Maschler:
We are seeing there was a house in Woodfield for $2 million. It’s sold in four days and back on the market because
Staci Garcia:
Yeah, that’s painful.
Matthew Maschler:
Whoever came to saw it, they were so excited. The bidding war raged, they got so excited. And then the second thoughts raged in. So yeah, so you want to make that seller comfortable as a seller. Take advantage of that as a seller. Get that inspection report, make it available to the buyers and tell the buyers, yes, we are accepting offers with no inspection period. Certainly you can then see, well, if the higher offer has an inspection period and the lower offer has no inspection, you can make your decision. But it’s a good way to beat the bushes and try to get, as a seller, try to take advantage of everything you can in this market.
Staci Garcia:
What number are you on?
Matthew Maschler:
The next one will be number four. The number four tip. Most of the time when I show a property, I don’t know when the seller wants to close, it’s very important to find out what closing date best accommodate seller. Sometimes the seller is ready to close right away. They want to sell the property that they don’t own the property, it’s vacant and they want to close right away. Sometimes there’s reasons that they want to wait. If it’s in a country club and they want to enjoy the rest of golf season. If they had that old mentality that it’s going to take 30 or 60 days to even find a buyer in 30 or 60 days to close. If the seller thought they had four months and now you come in with a quick 30 day cash closing and then you scare the seller off because the sellers thinks, oh my goodness, there’s no way I’ll be ready to leave this house in 30 days. Find out when the seller wants to close. It used to be I could make the first offer and revise it. Encounters we’re running out of time when offers aren’t being looked at and you don’t want the seller to disqualify your offer straight from the get go because this closing date wasn’t something that the seller could accommodate. So in the old days where you had time, you’d present it and in the counter back you can negotiate the closing date. You don’t want to be disqualified for picking a random closing date and you
Staci Garcia:
Can’t just write on there whatever you want.
Matthew Maschler:
You could leave it. Well, if you leave it blank, here’s the risk of leaving it blank. We had this in the office the other day. The buyer left it blank. So the seller accepted the offer and signed everything and initialed everything, but they left the closing date blank.
The seller didn’t fill anything in. If the buyer leaves it blank, the seller should fill in the date and then have the buyer initial, then you have an executed contract with all necessary terms. I don’t know what’s going to happen with that contract where the date wasn’t specified. I spoke to two different lawyers that I respect and one believed, eh, harmless error. People should use their best efforts to get the thing closed. And the other said to me, well, that’s an essential term of the contract. You don’t have a valid contract and you won’t know, and it’ll be up to the judge when you’re in court if one of the parties wants to back out and sue the other party for default. And you’ll be up to the judge to decide if you’ve in fact had a valid contract or not. I don’t know. I don’t know if it’s a valid contract. It could be
Staci Garcia:
Problem. Would you put that if you with the seller, would you put, I would like to make closing on a certain date. So put that in your offer.
Matthew Maschler:
You could put it in the broker remarks. Seller would like a quick closing seller. Seller would like an extended closing. The seller doesn’t want us close for one year.
Staci Garcia:
Yeah, there are some I’ve just recently seen, and I know this is buyers trying to get their offer accepted, but this is seller in the MLS that says, lock in your price now buyer and move in next year. Or there’s a tenant there until 2023,
Matthew Maschler:
Right when I see it with a tenant. But the tenant’s not really paying market rate or the tenant is paying market rate maybe when they came in. But based on this purchase price, the tenant’s rent doesn’t seem to make any sense. And when they call it an investment property, but the rent doesn’t make, isn’t related, the price I’m paying, it kind of makes me scratch my head. But yes, you could have a situation. Well, if there’s a tenant, you could always close while the tenant’s there. But if the seller wants to stay for six months or a year and gets a contract now, lock in the contract now and have an extended closing date if that’s what the seller chooses. A buyer can work their best to accommodate the seller with their closing date. And that actually leads us to tip number five if the seller doesn’t have where to go or needs time to get where they’re going instead of having an extended closing date.
Tip number five, a post occupancy agreement. I think offering, even if it’s not discussed with the seller, but in my offer trying to use my best terms, I’ve had some success by offering the seller a 90 day post-closing occupancy agreement at no charge. What that means is the seller can stay in the property after the closing for a period of 90 days and they don’t have to pay rent or pay me or pay the buyer or the new owner any rent. And that’s important. Sometimes when the seller needs the proceeds of the sale to buy their replacement unit, they would sell. But where were they going? Well, when they want to downsize, if they want to come out of the clubs or go somewhere with a less expensive HOA, but they need the equity from their house, sometimes they need 90 days to use the funds to buy the replacement house. And for my entire career, we always have advised buyers against allowing the seller to come in and have a post occupancy agreement. But in this market, when you got to do something, you got to do something to make your offer stand out. Giving that seller, Hey, you could do a 30 day cash closing and then the seller could stay 90 days. It maybe doesn’t cost the buyer all that much to carry the house for those three months. And it gives them the ability, the seller, the ability to choose this buyer over the next buyer. And I’ve seen longer, I’ve seen sellers ask for a year post occupancy. There’s part of the
Staci Garcia:
Seller. People are not in a rush, I guess, to move here.
Matthew Maschler:
And again, with the lack of inventory, they’re resigned to not look so at least close. No, you own it. No will be available next year if you’ve got kids in eighth grade. Okay, well, they’ll finish up. They’ll be ninth grade and then we’ll move. But waiting on the sidelines and just clicking Zillow every day for updates. And when a house does hit the market, a hundred people look for that same house. Waiting on the sidelines for that house could be very, very difficult.
Staci Garcia:
Plus it’ll cost you a lot more money next year.
Matthew Maschler:
Yeah, yeah. People say we’re a bubble. People think we’re top bottom. Who knows? I don’t see that this is any kind of bubble. I believe in real estate and always believe that it’s a good time to buy. I’ve been buying in this market, so waiting on the sidelines is tough and waiting for that perfect house to come out is tough. So if you find that perfect house and the seller wants to stay there for a year and you do that deal and then you know that you have plenty of time to either sell your house up north or just prepare mentally for knowing that you’re coming in, look, it happens all the time with new construction. You put a deposit down on the house and the house isn’t delivered for a year or two. So why not use that same philosophy in the lack of inventory to snag a house and the sellers will have a year to finish out living in that house.
Staci Garcia:
I feel like one of the worst case scenarios, which could be amazing, is that you bought a house at the current day rate, let’s say next year. You don’t end up moving. You could flip the house and just as is, make a hundred thousand dollars
Matthew Maschler:
Because if you find something better or something else that you like, one thing about buying a house, unlike buying a shirt or a car or flowers you buy, it was just Valentine’s Day, I bought my wife flowers. Well, flowers die, right? You don’t have anything afterwards. When you buy a house, you’re not ripping up the money. You go on a cruise, that money’s spent. You buy a house, you’re just moving asset from one column to another. It’s not liquid, but you just call the real estate finder and we’ll sell that house and you’ll have your money back, plus or minus. That depends on the market, and we can’t really control the market. But yeah, you’re not ripping up the money when you buy a house if you change your mind. I had a car once and a friend of mine had the same car in a color I liked better. And I said to him, I should have got that color. I really regret not getting that color. You know what he said to me?
Staci Garcia:
Get that color.
Matthew Maschler:
Well, why don’t you? It’s not too late. And it never occurred to me to, if you have a three year lease, I bought the car, but I think keep the car for three, four or five years. It never occurred to me I could sell the car, buy the car back in a different color. I wasn’t locked in
Staci Garcia:
Or now you could wrap it
Matthew Maschler:
Or wrap it, but it just never occurred to me that I could sell the car and buy a car and have the color I want. And I guess that’s what money and success does. It gives you the option to have the color you want, but it truly did not occur to me that I could simply sell the car and buy the car that I wanted. And it was very freeing to know that. So yes, if you buy a house and you don’t like it, you are not a prisoner. You can sell it and buy a house that you do like. Okay, the number six tip to get your offer accepted in this market. Be nice and friendly to the other real estate
Staci Garcia:
Agents. Oh my God, what? That’s number six.
Matthew Maschler:
I had a real estate agent that apparently I must’ve said something wrong, and they came back to me. They said, I’m so embarrassed that such a seasoned agent would say that. And I’m like, the tables will turn one day. One day you’re going to make an offer on one of my properties, but most of the time
Staci Garcia:
Screenshot that and send it back to them.
Matthew Maschler:
Most of the time, the agent on the other side, if I know them by name or face or reputation, they want to do a deal with me. I want to do a deal with them. I’m friendly. I’ve offered a pizza to the listing agent or a steak dinner to the listing agent. If we get this enclosed, and it’s a funny, I’m being serious when I say it, but it’s funny enough to at least if there’s 10 or a hundred offers to know that my offer is going to get looked at. So you want to develop a nice relationship with the other agent. You don’t want to be busting balls. You have to understand what they’re going through. They have a lot of people blowing up their phone. So you have to be a little patient. You can’t totally ignore them and ghost to them, but you have to give them space and patience, but you also have to get in front of them. And I think by incorporating a lot of these tips, making sure that they know that you have this good offer with these other terms, making sure that they know that they have a professional on the other side. I know when I get an offer, the first thing I look at after the price is who’s the other agent?
Staci Garcia:
Always, even when I pick properties to show buyers, I do look to see who is the other agent because am I going to have a problem? There’s a couple agents I’ve worked with who I’ve never ever met or talked to or had any communication with because they have a team where they’re so busy or it’s just a name or it’s a limited listing. So I definitely look at the other agent to see if I’m going to work with someone that’s going to pull their load.
Matthew Maschler:
And I like to think I have a great relationship with all the other area realtors. I don’t think any would have anything bad to say about me. And I have a good relationship with them. And I think that that can be an asset for someone using an established real estate agent, or at least a broker. If they’re under a broker that’s established. Any of my real estate agents, I always tell them, feel free to use my name and cc me on the deal because I may know people, I may be able to help people push things through. It doesn’t help to call me after a problem. I mean, I had a situation where somebody called me after the closing to tell me what my agent did and I went, call me before we could have fixed it. That was easy. So develop a nice relationship with the listing agent. That is one of my top 10 tips. All right, you ready?
Staci Garcia:
Number
Matthew Maschler:
Seven. We talked about making that first deposit, right? Or the second deposit that deposit’s held in escrow until the closing. But after all the contingencies are met and the buyer basically is locked in and under contract. I haven’t done this one yet, but if you think that the seller has need, if they need the money, sometimes you could tell the seller really needs the money. Maybe they have HOA fees that are unpaid, or maybe they have other things going on in their life. And if you know that the seller needs money, maybe agree that a portion of the escrow money can be released to the seller in advance of closing. I mean, we see that people take commission advances, payday loan advances. Let the seller have a couple of bucks, $20,000, $50,000 either immediately or after inspections or after the mortgage contingency 30 days prior to closing. $50,000 of the escrow shall be released to the seller. And it still counts towards your closing process proceeds, but it’s money that was already paid to the seller. And really the only risk is if for some reason the seller doesn’t close. So that’s something I’ve been thinking about, letting the seller have a little bit of money. And maybe if it’s not 50,000, maybe if it’s even 5,000,
Staci Garcia:
Even moving money,
Matthew Maschler:
It’s a moving money. So yeah, you can put a provision in the contract that a disbursement of cash money from the escrow or not even from the escrow, make it a third deposit. And that will be paid directly from buyer to seller, still to be credited at the closing. But to give seller some of that money in advance, I think a $20,000 payment upon signing the contract. And I will tell you, I was thinking about using this one on your neighbor.
Staci Garcia:
Oh yeah,
Matthew Maschler:
That’s where I got this idea. That’s
Staci Garcia:
A good idea.
Matthew Maschler:
These sellers needed the money.
Staci Garcia:
They need the money, and it would’ve taken a lot of pressure off. I mean, it still would take a lot of pressure off.
Matthew Maschler:
And it was an extended closing because there were some school aged children. They wanted to finish the school year. So I was going to keep that. I was expecting the offers to go back and forth a little bit.
Staci Garcia:
So
Matthew Maschler:
In the next round,
Staci Garcia:
That’s a good one.
Matthew Maschler:
That was my plan. I was planning on making a direct payment to them to be credited at closing, but not to be held in escrow and giving the owners some walk around money. And that’s why peace
Staci Garcia:
Of mind is a really important, you can’t put a price on it, but maybe you can.
Matthew Maschler:
And sometimes people really need the
Staci Garcia:
Money.
Matthew Maschler:
So when I had that idea, we ended up not using it. But I wanted to round off my list because we’re trying to get to 10 and we’re at seven. So number eight, in Palm Beach County, the seller pays the title fees. Most of the country, the buyer pays the title fees. Palm Beach County and a lot of other counties in Florida. I don’t know if Florida’s half more than half is one way or another, but I know in Palm Beach County, I have a chart by county. But in Palm Beach County, traditionally the seller pays the settlement fees, the title fees, and if you want to learn more about that, we discussed it with Bob Schwartz a few weeks ago. He’s a 50 year real estate attorney, and he described how that came to be in Palm Beach County in an earlier episode, I think it was called The Best of the best. I’d like to change it to put Bob’s name in the episode.
But yeah, the seller pays for title fees. And when I buy a property, I like to pay the title fees. I want to choose the title agency and the title closer as the buyer title. I’m trying to protect myself from the seller. So I don’t want the seller to pick the title company title agency. So I’ve always, in my practice, liked to pay for the fees. And now more than ever, it’s a term that you can put in a contract to make your contract stand out over the other offers because it could be a five or six or $7,000 fee that you can relieve the seller of, and that would make your contract stand out. And one of the nice things about that is even if the property appraises or doesn’t appraise, it doesn’t affect this. So let’s say the property is $200,000 and instead of offering two 10, you offer to pay the settlement fees. Well, it appraises at 200. So the seller’s kind of glad, right? It was better that this fee was paid because now
Staci Garcia:
They don’t have to negotiate. You
Matthew Maschler:
Don’t have to negotiate because if it was an inflated price, so the buyer can offer to pay for the seller’s title fees or any other fee the buyer could offer to pay for the seller’s real estate agency’s fees or anything they want. We’ve seen in the past sellers crediting buyers, but you could have buyers crediting sellers, right? And what’s good about that is it doesn’t involve the appraisal issue at all. Plus it’s not part of the recorded sales price, which you’ll ultimately be taxed on. So if a buyer can offer to pay for a seller’s fee, it’s a good way for a buyer to get their offer accepted.
Staci Garcia:
Next,
Matthew Maschler:
Number nine, we’re seeing more and more escalation clauses also called elevator clauses. And what that basically says is, here’s the buyer’s offer, but Mr. Seller, if you get any other offers higher, we will beat that offer by X number of dollars. It’s kind of like when you’re on eBay and you see an item for $15 and you bid 25, the item doesn’t automatically go all the way up to 25 right away it goes to 16. You’re the high bidder at 16, someone comes in and order 17, you become the high bidder at 18. It kind of proxy bids it up for you. And that’s exactly what the escalation or elevator clause can do it. You can be the high bidder and if another bidder comes in, you can beat them. I think you have to have a serious bid increment. If you’re saying, I’ll beat the next highest offer by a thousand dollars, maybe that’s not enough to move the seller. Not that a thousand dollars isn’t a lot of money, but you’re just kind of playing games. So maybe you want to be in $5,000 or $10,000, sometimes even a hundred thousand dollars bid increments. So using an elevator clause.
I’ll tell you, our broker at signature, Ben Schachter, he hates the elevator clause. He thinks it can be ripe for fraud. It can invite fraud. The seller can make, pretend that there’s this other offer and kind of bid you up.
Staci Garcia:
It’s like a regular auction, right?
Matthew Maschler:
Any other auction there can be show bidding. But here’s the thing that I’m thinking. If the property is asking $299,000, $300,000, let’s say I, and you want to come in, you would come in at three 50 by using an elevator clause. You can come in at three 10 and say, and we will beat the next highest bidder by $5,000 up to a max of three 50. So even if there’s real buyers out there and you beat them and you end up at 3 35 or three 40 or 3 45, that’s great. Even if they still bidded you up to three 30 or 3 35 or three 40, well your max was three 50 anyway,
Staci Garcia:
Did they say, well, we know they’re going to pay three 50, so let’s just get ’em up to three 50. Is that what the downside is?
Matthew Maschler:
That’s really the downside. If I make an offer that says 300, but if anybody else bids more, I’ll give you three 50.
Staci Garcia:
That’s the thing is you don’t know the max bid on eBay and that auctions, right?
Matthew Maschler:
So quite frankly, a lot of sellers who get that kind of escalator clause, they’ll just counter you and say, three 50.
Staci Garcia:
That’s what I’m talking about.
Matthew Maschler:
And that’s why it blows up, right? Oh, you’re willing to pay three 50. Exactly. Just pay us three 50. Yeah. But then again, it’s worth a shot, right? If you would’ve went to three 50 anyway, and you do the elevator clause, I think what’ll happen is maybe you don’t do it in the first offer, but then when they come back and ask for highest and best,
Staci Garcia:
I feel like you really kind of come in though with the highest and best. Because if you don’t come in with the highest and best right now, they’re going to say, well, sorry, the next person got it. And if you do have something in your pocket, let’s say a higher and better offer, you already just missed out. So it doesn’t really work.
Matthew Maschler:
And I think on the flip side, when you come in super strong in the first place, now you’re just
Staci Garcia:
Setting
Matthew Maschler:
The floor price
Staci Garcia:
Telling
Matthew Maschler:
Everybody else what they have to
Staci Garcia:
Be. No, I get that too.
Matthew Maschler:
And then you’re almost damped if you do, damned
Staci Garcia:
If you don’t, you are. Because first offer comes in and you think you’ve got the highest and best, and they use your offer
Matthew Maschler:
To, they shop the offer, and that’s what everybody else has to bid. So when you come in strong, you think you’re coming in strong, and really you’re just set in the floor. And that’s when buyer’s remorse comes in. When the person who ends up at the end of it says, wait, I did what?
And goes to cancel the offer. I will say, we’re going to take a little break here. That was nine of my top 10 tips. I sat down and wrote these out. It was fun to do because it was just frustrating all these deals where people were getting, people were getting outbids. And that’s why I put pen to paper and thought about my 10 tips. Today’s episode of the podcast, we have to leave early because we have a showing appointment. And I was thinking to myself, one of the things I like about the podcast is I just like talking.
Staci Garcia:
So
Matthew Maschler:
If you noticed this whole episode, I’ve been talking very fast trying to get it all in and then go to the showing appointment. So any one of these tips I could talk about for half an hour. So I feel like I’ve been rushing. I’m kind of proud of myself that we’re at 33 minutes and I’m almost done because we allotted 40 minutes for today’s episode because we do have showing after this. So part of me was wondering, am I going to go so fast that I blow through all 10 tips really, really quickly? Well,
Staci Garcia:
There’s also other things. You didn’t get to number 10 though, right?
Matthew Maschler:
I didn’t get to 10.
Staci Garcia:
Okay. You
Matthew Maschler:
Ready?
Staci Garcia:
Yes.
Matthew Maschler:
And I don’t know if I started it. I said the number one tip, but it was just my list. I wrote a list one through 10. So thinking about it, thinking of all these tips on how to get Euro offer accepted in this market, all these creative tips, all these, some obvious, some non-obvious, I’m about to say the 10, but I’m thinking David Letterman, he always started at 10 and goes to number one. So even though this is the 10th tip and it’s number 10 on my list, I am going to say that this is the number one tip, the number one tip to get your offer accepted in this market. Pay a lot of money.
Staci Garcia:
Pay the most money,
Matthew Maschler:
Pay a lot of money.
Staci Garcia:
Pay the most money.
Matthew Maschler:
Pay the most money.
Staci Garcia:
Pay all your money.
Matthew Maschler:
Pay all the money. Pay all the money
Staci Garcia:
And get your offer. Make it a ridiculously high offer.
Matthew Maschler:
Make a ridiculously high offer and get your offer accepted because ultimately you could do all of these other things, but whoever offers the most money will probably win
Staci Garcia:
And have no contingencies with that,
Matthew Maschler:
No contingencies. And in a post occupancy agreement. And pay the
Staci Garcia:
Salad cheese. Make sure you get the roses and a pizza.
Matthew Maschler:
And yes, all you listing agents out there, please know that any deal that you do with me or with Stacy this year, we’ll have a steak dinner on the closing day at New York Prime or Texas Roadhouse. Depending on the price of the property and the amount of commission offered in the MLS, we will have our steak dinners at New York Prime or Texas Roadhouse or Steak and Shake
As a thank you for getting our offer accepted by using one of the first nine tips. If we use tip number 10, you can take us to eat. Well, maybe we split it. So if you are struggling getting your offer accepted in this market, you need to do something different. You need to make sure that your agent is aware of the tips. Play this episode for your agent. Have your agent call me or dump your agent and choose someone from the Real estate finder, team realestate finder.com team. Awesome. The Real Estate Finder podcast, getting offers accepted. It’s what we do.
Speaker 4:
The future looks bright and the stones pass by the sky’s dog. Blue. When it’s almost that time, light shows cameras flash when I pass living in the moment, forget about the past. They saved the best for last. Matthew Mania. We about to make a splash. Life is a marathon full of sharp turns, got to keep pace while the hands on the clock turns high stakes. Five star real estate. I run a show. You could tell the boss in plate electricity energy, if five I make dreams come living life, real clear view, give. It’s it’s time. It’s time, it’s time. You know what you know knows what time, what knows what time, what. It’s time, what time. It’s Matthew Mania. The time it says, you know what time, whose time? What time? It’s Matthew Mania. The time it says, yeah. Got him shook, scared. Can’t look. We’re not afraid of the big bad wolf first comes to right.
