Keys to Representing a Buyer

by Dirk Zeller

1. Your first step is to guide your clients toward a competitive offer. Perform at least a quick competitive market analysis, or CMA, to determine the value of the property. Among the factors you'll want to weigh are the home's current value based on the value of comparable properties, regional housing inventory levels, and the competitive nature of the current marketplace. Your findings will help your clients arrive at a reasonable price decision and help you to counsel them as they make a competitive offer.

2. Once your clients have arrived at a competitive price to offer, your primary job as their representative is to properly prepare the contract you will present on their behalf to the sellers. Your goal must be to protect your clients by writing terms and conditions that convey their intentions and meet their goals.

For most people, a home purchase represents the largest investment they make, the biggest purchase in their lives, the greatest and longest-lasting debt they assume. The purchase agreement you write must protect them by addressing every issue – the price being offered, the items to be included in the purchase price, the amount to be deposited, the closing date, the date the offer becomes null and void, and any condition that accompanies the offer, including contingencies based on the outcome of inspections, approval of financing, and personal property transferring with the sale or other issues.

3. When you're ready to present to the sellers, present the offer and your buyers as the best in the marketplace. Presenting the offer favorably to the seller can mean the difference between your clients or other bidders buying the house. The stronger you can position your buyers by presenting their financial capacity, superior commitment, motivation, and even a human connection, the more you will swing the negotiation in favor of your clients.

For some sellers, a human connection is the tipping point in choosing one set of buyers over others. For example, an offer from a family the sellers imagine will re-create their cherished memories in the home may trump another offer that is absent the human connection, even if the offer results in equal or even slightly less money.



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