Humanizing The Buyer and The Offer
A fax to email showed up the other day and I opened it to find a cancelation of an offer for one of my listed properties. Having buyers get cold feet isn’t that unusual these days. Heck, if the Dow goes down 200 points on a random Tuesday buyers are prone to temporarily panic and then hold back their offer.
What was unusual about this cancelation of an offer was that I didn’t even have an offer on the subject property. I called the real estate agent as a courtesy because I thought he had just faxed the wrong person.
It turns out that there was an offer prepared precisely five days and two hours ago and it was faxed but never went through. The agent had taken the time to show a property to a buyer fifty nine miles away from the address on the fax cancelation letter, burned a boat load of time with a buyer and never followed through and fought for the buyer to get the property.
During those five plus days was the buyer on pins and needles wondering if he’d get a counter offer or an out and out refusal? Was that buyer was riding a one man emotional roller coaster and on about day four and a half he became so angry waiting that he decide to cancel his offer? It makes me wonder.
Here the thing about dumping an offer to purchase in a fax machine or scanner, walking away and expecting it to take care of itself; it’s not in the best interest of the consumer. Even if that fax was actually delivered and presented to the sellers of that property an injustice is done to the buyer to not have the offer conveyed properly.
There are plenty of circumstances when sellers don’t give a lick about the buyer, what their motivation is and why they want to buy the property. There are more occurrences when they do, though.
It may be relevant information, especially with multiple offers, to let the seller’s side know that the buyers are as good as gold with a loan and they’re sporting a 780 credit score. It probably wouldn’t even hurt to mention that the buyers are looking forward to raising their two year old twins in the home. You can bet that if there is a choice to be made between buyers the faceless, generic buyer has a disadvantage over a buyer and their family who has been sold to the seller.
Not every seller cares, but if you’re the buyer and you want to make sure you stand the best possible chance at getting your dream home don’t you think your real estate agent should attempt to endear you to the listing agent and the sellers? Maybe explain your credit worthiness in detail? Maybe explain how the buyer is willing to bend time frames and closing dates? There is just more substance to placing an offer besides shuffling papers and faxing them away.
It’s the tipping point for sellers when buyers get turned into real people. At the very least when the buyer’s agent calls to present the offer they might find out the fax never went through.
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