The Ugly Offer: How It Could Derail Getting Your Dream Home
You’ve heard of the ‘Cash Offer,’ the ‘Lowball Offer.’ Ever heard of ‘The Ugly Offer?’
What IS an ugly offer, you ask? Well, it’s the opposite of the ‘Pretty Offer,’ of course … the offer in a multiple bid situation that shines brightest, with a strategically crafted cover letter, unquestionably complete (best if in one nice, neat pdf too!). One favorite component of the ‘Pretty Offer’ has been the buyer ‘love letter,’ and that has become largely untenable, due to commonly breached Fair Housing laws.
An ugly offer may lack one or more necessary components, or appear to be thrown together haphazardly, with documents un-openable, or hard to view. The well-designed offer inspires the buyer’s confidence in their broker. It also HEAVILY influences the listing agent and seller on the receiving end.
Particularly when in a bunch, some offers are in danger of being summarily dismissed by an agent and/or owner if submitted ‘unwritten,’ or incomplete … if inarticulate, or yes, just plain unattractive in its presentation. The uglies may have been sent in incorrect order, or worst of all, their multi-page documents were scanned one page at a time. Perhaps they’re sloppily handwritten, with cross-outs, or yes, poor spelling or grammar. Or simply don’t highlight the buyer’s excellent qualifications or high level of motivation.
Bottom line, an ‘ugly’ would make me (and hence my buyer) look woefully less professional, less serious, less logistically capable of follow through to a gatekeeping listing agent, and this greatly decreases the chances of winning the competitive bid.
My job as buyer’s agent is to find out what will be music to a seller’s ears, showcase my buyer’s financial readiness in my cover letter and conversations with agent, and sell them on your ability to close a deal seamlessly. By demonstrating credibility and reliability as an agent, my goal is to position you as the ideal buyer in the seller’s eyes.
This is also the time to show we have anticipated any potential concerns or objections that may arise — the key aspect of a successful presentation. Done correctly, we have built trust on both sides, and have left little room for doubt ours is the best (prettiest) choice.
In these competitive times, be creative, be organized, and don’t let it get UGLY!
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Joni Usdan is a Sales Associate with The Bross Chingas Bross Team at Coldwell Banker. Bross Chingas Bross has been #1 in the sale of Weston and Westport homes, 2013-2023 YTD. The team ranked #33 in the U.S., out of all Real Estate Agent Teams at all brokerage firms per the Wall Street Journal, and #7 within Coldwell Banker globally, where they are recognized as an International Society of Excellence Team.