Mock Sell/Buy Phone Calls

Read the blog below:

Anthony: Hey, Judy, nice listing you have there. I know you’ve had a ton of people there, good for you. Listen, I just wanted to give you an update on my buyer. My buyer is totally a hundred percent pre-approved, they’re going to have a monster down payment. I’m going to be sending you an offer, but I wanted to give you a heads up that the offer is going to say subject to the sale of their home, but I just want to preface it with this. Their house is completely ready to go on the market pictures are done, everything’s loaded up into the MLS. If you want to see comparative properties in the neighborhood of their home, I’m happy to send them over, but we’re going to be listing their property for 799, everything in their neighborhood selling in the eights, so it’ll sell within a couple of days.

Then they obviously want to buy your listing, but I wanted to just mention that, I wanted you to hear the backstory so that you knew they’re totally ready. When I submit the offer to you, I’m going to send an updated pre-approval, all the offer documents, and I’m also going to put in a couple of comms in their own neighborhoods so you can show your sellers, so your sellers have confidence that their house is going to sell immediately.

If your sellers accept, and I’m going to write this in the offer, we will list the property within 12 hours of your seller accepting, and I’ll write that right in there in my email as well.

Okay. Now, I understand not every seller loves hearing that a sale is subject to, but I just want to point out that the subject to doesn’t really mean much because we’re going to list immediately, and you know as well as I do in that area of town that this property is in, it’s going to sell immediately. Then we’ll just set the closings up so that their morning and afternoon.

They’re going to– Believe me, you’re going to love our offer, it’s going to be over asking price. We’ll make it all work. Okay? Awesome. Thanks so much.

Hey, I just talked to the listing agent. She understood obviously they have other offers and they would rather get an offer that isn’t subject to but I explained everything. I promised them we’re going to list your house immediately. I told them how we have your house completely ready to be listed, so I feel pretty good about this. Okay? All right, I’m going to submit the offer.

Hey Judy, their offer’s been accepted? Oh my god, this is great. We’ll get the house on the market by tomorrow morning at the latest. Thanks so much for the call. We’ll get it listed right away. When do your sellers– Do they like that closing date? Because I think we can easily hit it on our side. If the buyer on our listing wants to close sooner, obviously I’ll tell you, but it does that work, that tentative date that I put in there? Okay, awesome, I’ll let them know.

Hey, congratulations. You got the house and they were happy with the closing date. They did say they’re open to a sooner closing date if we can get the buyers for your house` to close sooner. But we got to get on the market tomorrow morning, like we promised. Okay, great. All right, I’ll call you after and I’m going to send you the documents. Thanks.

You see that, my friends? That’s being an agent, that’s being a broker. The last five or seven years it wasn’t that hard to sell real estate, it’s gotten harder. Now, agents have to communicate, they have to explain things. You can’t just text your way to getting deals, you can’t email your way to getting deals, you need to make phone calls, you need to have relationships, you need to work with listing agents, you need to work with buyer agents. Super important that everyone’s working together.

If every realtor in the industry communicated at the level that they should, our inventory would not be as low as it is now. A lot of realtors aren’t communicating with one another to the extent that they should and realtors aren’t doing a great job communicating with sellers who want to list their homes for sale and buy another home. I talked about that in my training video a couple of weeks ago that we had 134,000 people watch. If you haven’t seen it yet, scroll down on the, Crush It in Real Estate page and check out that video and realtors are free to do that course.

Now, let’s think about the other conversation. I’m going to pretend that I’m a listing agent. Look, my microphone fell. I’m going to pretend that I’m a listing agent. I’m going to call the buyer’s agent and I’m going to talk to them about how my seller’s property they’re willing to sell, they’re willing to accept the offer, but it’s subject to the seller finding something. Watch this.

Hey, Mrs. Buyer’s agent. Yes, I got your offer, thanks so much. Our sellers would like to accept your offer. We’re attracted to how your closing date was further out, which gives our sellers more time.

There’s one thing now. They’re just not comfortable accepting your offer unless we put in a clause that says the sale is subject to sellers finding suitable housing. I promise you these sellers- I’ll just tell you where they’re looking. They’re looking on the upper east side. They’re looking for this type of property, three bedrooms, two baths in that whole neighborhood. It’s not like they’re looking in three streets, they’re looking in a big area.

These sellers are for real. They have a really good pre-approval. They’re ready to totally ready to buy. We’re willing to accept your offer, but you guys have to be willing to put in that of subject to the sale.

Okay. So that’ll create a domino situation on your side too, but that’s okay. As long as we keep each other updated all along. Once we find a property, they want to do this sooner, just so you know, they’d like to close in four to six weeks. What we could do is if we find something soon, we’ll make the closing date sooner, I’ll call you, we can make it sooner on your end and you can call the other side. Awesome. Thank you.

Again, then another example of what is necessary in this market. Realtors use this for what it was originally intended for. Pick it up. Buyer’s agents don’t get frustrated with listing agents. Listing agents, have some patients don’t get cocky. I’ve talked about that in past videos. Buyer’s agents, you got to understand, if you’re a listing agent, you get 20 offers on a property, it’s hard to talk to every single one. But if you’re a good buyer’s agent, and you’re making friends, and you’re getting to know people, you should be able to make that call, and you should be able to explain what’s going on.

Again, if more realtors communicated, explained, if more realtors worked with their clients, understanding their fears and we all work together, inventory will go up a lot over the next three or four months, which it’s going to go up a good amount anyway, as more properties get listed. But buyer demand is so strong, it’s eating up the inventory. But more and more sellers will list if more and more sellers are comfortable, and they’re going to get comfortable from realtor communication.

I hope those examples, those mock discussions, make sense to you all. Post your questions, comments, or anything else. Thank you very much. Happy home selling.