Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Three Keys To Success In A Hot Market!

This is our entry into “Hot Market Strategies - An ActiveRain Contest” sponsored by Debbie Reynolds.

 

Debbie challenged us to “Share 3 strategies, tips or ideas that increase the chances your offers are noticed and accepted.”

 

Our market is not quite as "hot" as some other areas of the country...yet.

 

When it was "sizzling" - initially with prices clambering a hefty 45% in less than 12 months, followed by the collapse that saw some properties lose more than 70% of their value, there was a ton of activity - initially traditional sales - then short sales...

 

Regardless of whether your Buyer is interested in a "traditional sale", or a "short sale" property, similar rules for success apply.

 

One of the best ways to put your Buyer's offer at the top of the pile is to make it as attractive to the Seller as possible.

 

The first key is to follow "Offer Instructions" attached to the listing in the MLS (we provide this document in all our listings) and follow the instructions.  Understandably the Buyer may not want to follow those instructions completely - but - they will have up front knowledge that any wavering could hurt their cause.  If the listing  does not have "Offer Instructions" attached to the listing, consider contacting the Listing Agent to discover what elements, apart from price, are important to the Seller.  The more the Buyer can align the offer with the elements important to the Seller, the better the chance of success!

 

The second key is to demonstrate the financial strength of the Buyer.  This can be accomplished by submitting Proof of Funds and/or (here in Arizona) the Arizona Association's "Pre-Qualification Form" completely filled out by the lender and signed by the lender and the Buyer.  Here in AZ that is the same as "Pre-Approval" elsewhere.  Finally, a substantial Earnest Money deposit (at least 2% of the purchase price) demonstrates Buyer "skin in the game".

 

The third key is eliminating / minimizing Buyer contingencies in the offer.  While contracts differ from state to state, the submission of an "As Is" Addendum sends a message to the Seller that while the Buyer retains the right to inspections, they won't be coming back after inspections to "re-negotiate" the deal with the Seller - the Buyer will take it or leave it - or if it's a "surprise" the Seller may choose to make repairs.

 

So there you have it!

 

  

 

 

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About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty

Comments

Great tips...I especially like the 3rd one...get the offer as clean as possible!

Posted by Kristin Johnston - REALTOR®, Giving Back With Each Home Sold! (RE/MAX Realty Center ) over 1 year ago

Hi Tony and Suzanne

Those are certanly important strategies for any offer. Following any offer instructions, such as including a POF or whatever else that's noted, is pretty easy to do, at least one would think so. Sometimes buyers are so focused on what THEY want they forget that there might be things the sellers want, too. And in a competitive market that's the kiss of death.

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) over 1 year ago

Listing Agents always do best to put instructions and needed documentation in the MLS. for Buyer's Agents.  The ones that don't follow it immediately send a message and it isn't a good one.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) over 1 year ago

Tony and Suzanne - good post!  I'm seeing multiple bids in the under 350- market but not so much in the mid to higher end market.  We've gottten 5 to 10 bids on some homes this past year.  Now that the new contract states the home is being sold as is,  it thankfully has eliminated a lot of the craziness that was going on with the BINSR.

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) over 1 year ago

marti garaughty, abstract art, graphic design, marketing, WordPress consultant

Posted by marti garaughty, a highly caffeinated creative type... (garaughty.com) over 1 year ago

Thanks Kristin Johnston - REALTOR® and - thanks for stopping by with a comment!

 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

Agreed Jeff Dowler - always good to hear from you - thanks for stopping by with a comment!

 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

Agreed Chris Ann Cleland - thanks for stopping by with a comment!

 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

They still leave that door "open" unfortunately  Anna Banana Kruchten, CRS - with the new and improved BINSR - thanks for stopping by with a comment!

 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

Thank you for the honor marti garaughty and - thanks for stopping by with a comment!

 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

Following offer instructions seems like a no brainer right?  Yet we see them not followed all the time....-Kasey

Posted by Kasey & John Boles, Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties (Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com) over 1 year ago

Agreed Kasey & John Boles - thanks for stopping by with a comment!

 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

That would work in most situations in my mrket Tony. Thanks for sharing and participating.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) over 1 year ago

Thanks Debbie Reynolds and thanks for sponsoring this contest!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 1 year ago

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