Hank Miller

Is That a Good Offer on My Home?

Sound decisions are unemotionally made and based upon the most reliable data available. For sellers, the “unemotional” part can be difficult; we have the advantage of not being emotionally connected to the transaction. This allows for our clients to see and have the data explained in the purest form possible – in a sense, just the numbers. Obviously sellers probably have more influencing the decision making process than just the numbers, but the most effective sellers will push those other issues aside and recognize that the single most important thing is an accurate analysis of the offer and development of the counter offer strategy.

It can be said with a very high degree of confidence that no other agents dissect offers like Hound Dog. The data crunching completed in the Reasonable Expectations packet carries forward once an offer is received. Our sellers will understand the offer, specifically:

• The key points of the offer – price, concessions, closing, due diligence, stipulations, earnest money, buyer “back doors”…..
• The strength of the offer – is it credible?
• How does the offer compare to current area trends? – Specifically sale to list ratios, concessions, price…
• What are the advantages to the seller in the contract?
• What are the disadvantages/concerns to the seller in the contract?
• Where are the potential land mines? – Appraisal issues, contingencies, any unusual stipulations
• What is the next move? – Opinions and suggested courses of action are given
• What is the best counter? – The art of the deal is negotiation, getting our client the upper hand is always the objective

Reviews are always written as this allows for the client to have the data in front of them. Along with all of the data is a written “overview”; this walks the client through all of the data, explains it and applies it to the situation. This information is sent ahead of a conversation where all questions are answered and concerns addressed. It’s our experience that clients do very well with this process and at this point understand the methodical data centered approach we take, much of the data has already been seen in the Reasonable Expectations package. We know, without exception, that no other agent or team prepares this type of detailed review; most will complete a very cursory verbal review and offer opinions. Like the prelisting analysis, using the standard “comparative market analysis (CMA)” and calling that a review is woefully inadequate and sellers should expect more. Here’s are examples of a past reviews, note just the narratives are displayed, the data isn’t included below but obviously is with the full review:

Note as well that we influence the situation with the other agent as the situation dictates. When advantageous to our clients, the same data is presented to the opposing agent accompanied by a cover sheet supporting our counteroffer. This is done to ensure that the opposing agent has the best data to show their client (even though we provided it), data that obviously supports our client’s position. During discussions with the opposing agent it’s made clear that we base our position on tangible data that an appraiser will see, not unsupported opinion. Many times we don’t need to push hard, our offers tend to begin well into the “normal” range demonstrated by the comps – at that point we simply look to push buyers as high as possible to maximize the net to seller.

Current and reliable data is the key to decision making in any business, including buying and selling real estate. It’s easy to see data is an integral part of everything we do, successful clients understand the value of this.

Please feel free to contact us VIA EMAIL or by phone at 678-428-8276 with any questions.