Last time, I discussed nine tips to help your buyers win in today’s crazy market. Today I’m back to continue that discussion with two more tips for success:
1. Increase the earnest money deposit. In this market, I propose that you increase your earnest deposit to be in line with your down payment. To be clear, if they’re putting down $20,000, try having them put it all in their earnest money. That money goes toward their down payment anyway, and with any built-in contingencies, that money isn’t at risk should your buyer decide to cancel. I’ve seen contracts recently where the buyer put $100,000 down; that’s the sign of a very serious buyer who shouldn’t be taken lightly.
2. Lead with your best offer. That might sound obvious, but you’d be surprised at how many offers I see come in that could have been higher and better. When you’re representing buyers, be sure to educate them and encourage them to put their best offer out there right from the beginning. You never know what you’re competing against in this market.
If you have any questions about how to help buyers win in our current market, reach out to me. I’d love to help you. Until then, have a productive week!