Giving Multiple Offers to the Same Sellers?

Question

So I live in NY and went to my first REA last night in NJ, it was amazing!  I met a whole group of people and it was twice as exhilarating to meet so many people.

I also realized I had been over complicating things and that getting started was going to be significantly easier than I had expected from having read too much.

While there someone mentioned a strategy I hadn't seen before - Giving multiple offers to the same seller. Essentially a house that's been sitting for a long time without selling, you give them 3 different offers at once, and they're more likely to say "which offer should we take" instead of "should we take the offer."

Not only that but you can give them a few different creative offers, the first could be seller financing, the second could be sub2, and the 3rd some other creative variation or maybe a lower cash offer.

I'm curious if anyone has done this and could perhaps explain an example for how to do it successfully.  Would a RE agent do this for me or would I need to get my own RE license since no self respecting agent would have time for this?

How much time goes into writing an offer?

Royce Jarrendt · Answer

I have not tried that strategy when making offers but find it interesting. I've written many proposals in my other job and determined that making a simple proposal and standing with a straight face was the best approach...negotiations were often the result but it establishes a strong starting approach. Translating to REI, my goal would be to make an offer to get their attention, then focus on their "needs" for adjustments in strategy. Knowing the seller's needs as early in the process as possible will give you an advantage in developing the structure of your offer and eliminate possible confusion with multiple terms.

Kim Vandermark · Answer

@Wesley Merville

Hi. Where in NJ was that meeting? We are in Orange County, NY and have only found one REIA group in our area. If that Jersey location isn't too far, we would be interested in checking it out.

I think Brandon Turner talked about that strategy in a podcast that I recently listened to (it might be an old podcast, as I am obsessed and listen to them constantly!) Maybe someone else knows which episode I am referring to?

Best of luck to you!