In my last blog post, I shared with you a few reasons why having a Realtor in your corner in the offer process is vital. A subject many don’t really talk about, is what happens if you don’t win that offer? Is there an art to losing offers? What happens if the deal falls through? What happens when you have invested all of your emotional efforts to end up with an unfavorable result? It can feel like a sucker punch, and for some it can take you out of the game for a little while. More so, it could potentially spook you into not buying altogether, and/or sellers removing their listing! Its true, the emotional part of buying and selling a home is a bigger part to deal with then the transaction itself. As a Realtor, it’s one of those situations I wish I had a magic wand, and could show you the future. So, if there is an art to making an offer, then I want to follow up with a few tips that will help you overcome losing offers. In my experience, every deal lost, is a lesson gained. Here are a 3 tips that will make your next offer rock solid.

LOSING OFFERS TO AN ALL CASH OFFER

These offers are often more favorable for sellers, especially a motivated seller. It’s a clean, quick deal, and depending on the seller’s motivation, this is exactly what they were waiting for. It’s tough to compete with someone who is all in with a cash offer and a quick closing day.

TIP: In this scenario, unfortunately there is nothing you can do differently. It is as simple as, unless you have a cash offer as well, the competition is steep. Its ok. See it for what it is. If you don’t have a cash offer, then just move if your offer does not get chosen.

LOSING OFFERS TO A BUYER WHO HAS WAIVED INSPECTION CONTINGENCIES

In a competitive market, for some, removing the inspection contingencies from the get go is a big risk. This clause is there to protect buyers and sellers, and comes down to your comfort zone. Every circumstance is unique, and depending on your Realtor’s experience, they can advise you either way, or offer another option.I help my clients see both the up and down sides, and the unfavorable risks they could be taking.

Read more here for a Buyers Guide to a Home Inspection

TIP: Be very clear about the risks you are willing to take in this area. Weigh out the pros and cons. Don’t be afraid to walk away from a risk you can’t (or don’t want) to assume.

LOSING OFFERS TO A HIGHER OFFER

This is always a tough one. This loss is always disappointing on so many levels. Sometimes clients will relive how perfect this house was for them and their family, and that no other house will ever feel the same as this one. A few things come to mind. The first is, budget. I will always revisit this with my clients and prompt them to think about if we are shopping in the right price range. Depending on what the market conditions are, this is something that must be revised especially if properties are going for over asking price. The second (which goes with the first) is to ask if we are shopping in the right neighborhood that matches the budget. If we are, then the third is to look at the style of home my clients are looking for (size of home, bedrooms, etc.).

TIP: Sit down with your Realtor, and explore some new options. Be open to their expertise and experience here.

This is one of the hardest parts of my Realtor journey. It’s my hope to be a dream home matchmaker, but the ball sometimes bounces differently. In this emotional process, my goal is always to bring my clients an objective, professional opinion, and to help them see their real estate transaction from all the angles.