Offer presentations can be a challenge, especially for REALTORS® new to the profession. Questions abound, such as when should you present the offer and who should attend the presentation?
Your role in the offer presentation will vary depending on whether you represent the buyer or the seller.
Following are some guidelines for effective offer presentations, regardless of whom you represent.
Attending the presentation
Follow your brokerage’s policies regarding offer presentations. In addition, follow your real estate board’s rules and regulations regarding presentations at all times.
Presenting the offer
Present in person (unless the sellers live out of town) – You represent the interests of your buyer clients, and you can do this more effectively when you’re face-to-face with the sellers.
Focus on the positive aspects of the offer – If the price your buyer clients are offering is less than the asking price, focus on other positive aspects of the offer, such as the closing date, no conditions, and well-qualified buyers
Anticipate objections – Unless your buyer clients are giving the sellers everything they’ve asked for, be prepared to address the sellers’ objections. For example, if the offering price is below the asking price, have an updated comparative market analysis available that validates the offer price.
- If there is an offer, present it at the earliest practical opportunity. This is a requirement of the REBBA 2002 Code of Ethics (Ontario Regulation 580/05).
- Your client’s interests come first. Your client makes the final decision whether to accept or reject the offer.
- Be prepared. Many negotiations fail because of inadequate or poor preparation.
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