There are plenty of reasons why an offer might not be accepted, especially in the competitive Twin Cities real estate market. Particularly, there are three common reasons to know about, so you can avoid them in the future.
- You come in too low. In an aggressive market with low inventory, it’s important to present a viable option to the seller. Your agent can provide you with invaluable sales data. You should come in low enough to score a great value if you have a strong negotiator, but don’t come in so low that the seller won’t take you seriously! Submit an aggressive, yet plausible, offer.
- The listing agent could be a jerk. Agents’ ego can interfere in transactions, which ultimately disservice to the whole real estate community. Yet, these people exist. They think their way is the highway and give poor advice to sellers. It’s important to match yourself with an agent who can handle these situations.
- That agent can have an offer themselves. This is a challenge. They might say things they shouldn’t. They might even have a buyer in their back pocket. In a multiple offer situation, step with your best foot forward and personalize your offer. I’d even recommend asking your agent to present the offer in person. That extra mile can make a big difference to a seller.
Hopefully, you find this information helpful when submitting an offer. You can always reach to me by phone or email. I’d be happy to help you in any way I can!