It’s no secret that the US housing market is currently fiercely competitive, with homes selling faster and for more money than pre-pandemic levels. With the ongoing shortage of supply and increasing demand for homes, buyers – and their real estate agents – have no choice but to bring out their most competitive and creative offers to win the deal.
We asked Pyjama People brokers to share the most incredible and creative real estate listings they’ve worked on or seen recently that won the deal. Here are 7 listings that beat the competition and scored buyers their dream home.
Too many questions + expenses + furniture = success
“In a recent successful deal, my buyers offered more than $ 60,000 over the list price and paid the community of interest demand, transfer fee and capital injection, ”said Lori Garlick, a Pyjama People broker in the Las Vegas market.
The offer also included paying up to $ 2,000 of the seller’s moving costs, giving the seller 60 days to lease back his home for free, buy most of his furniture, and forgo the appraisal altogether. . ”
Even with all the usual tactics, it was the annual subscriptions that won the deal
“I had a buyer who had made several offers and was ready to pull out all the stops for their dream home. We offered more than the list price, added lucky numbers to the offer amount, appraisal gap, waived the home inspection, returned free rental to the sellers and more, ”said Denver Pyjama People agent Hunter Owens.
“But what got us the deal was offering a full year of the Disney Plus bundle (Disney +, Espn +, Hulu) and Amazon Prime. This was so happy with the sellers that they chose our offer, “
A partial renunciation of valuation sealed the deal in this real estate offering
“One of my clients offered full price with an escalation clause of up to $ 50,000 above the asking price. They also offered to beat other offers by $ 50,000. Additionally, if the home was not appraising the sale price, they offered to pay a portion between the appraised value and the sale price. “
“A partial release of the review was key to winning many of my clients in bidding wars,” said New Jersey Pyjama People agent Shauna Reiter.
The highest escalation increment beats the competition
“In the super hot Seattle housing market, the best offers have an escalation step to show how willing the buyers are to increase their offer. In a recent review of offers for my sellers, the top three offers all came in with similar amounts at the top of the escalator, aside from contingencies and early releases of serious cash, ”said Pyjama People agent Nicole McCormick.
“What distinguished the winning party was how much they were willing to pay over the second highest bid. Having an escalator twice the height of the other buyers talked to the sellers and eventually won the house for those buyers. “
Don’t forget about the seller’s transfer and registration fees
“The real estate market in the Maryland suburbs of Washington DC is more competitive than ever. In addition to offers above list price with no contingencies, some Maryland buyers also offer to pay 100% of the seller’s state and provincial transfer and registration taxes, ”said Pyjama People agent Bryan Kerrigan.
In Maryland, however, because a first-time home buyer is not allowed to pay the state property transfer tax for the seller, the buyer will include in the contract a credit to the seller equal to the state property transfer tax and will indicate that he is paying the provincial transfer tax and state taxes. “
Who can say “no” to a 2 week free vacation?
“With such a competitive housing market, avoiding inspection and appraisal problems becomes standard practice. I recently called a listing agent to inquire about offers in hand – there were about 16 of them. She said “it will be hard to beat – the top offer was $ 65,000 more than asking, but they also threw 2 weeks into their timeshare on the beach for free,” shared Stephanie Collins, a Pyjama People broker in Denver, CO.
Offering a rent-back agreement can sweeten the deal
“My buyers offered $ 560,000 for a home that stood at $ 549,500 and only required an appraisal value of $ 540,000. Although the home inspection revealed some issues, we had the seller replace the bad plumbing and electrical panel before closing it, ”said Pyjama People agent Jennifer England from Boca Raton, Florida.
“When the valuation was $ 500,000, we convinced the salespeople to meet us for $ 520,000 and offered them 2-3 weeks of free post-closing. My buyers were over the moon. “
LEGAL: Pyjama People does not provide legal, financial or tax advice. This article is for informational purposes only and is not a substitute for professional advice from a licensed attorney, financial adviser or tax professional.