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San Francisco Real Estate Pre-Emptive Offers Part 2

How to Win at Real Estate Negotiation

San Francisco competitive real estate market

Motivated Real Estate Buyers

After a week, my motivated real estate buyers still want this San Francisco duplex in Potrero Hill.  I did my homework and called on a similar Pending Sale to see if I could find out the particulars. Wow, was I surprised when the listing agent told me their duplex, also with no rent control in the same neighborhood, went $350,000 over asking! If Terrence and Linda want to compete on Thursday, they will have to do the same. I broke the news as gently as I could.

Yes, my motivated real estate buyers did want to proceed and are willing to pay this huge price, knowing that San Francisco’s rents are just as exorbitant. Also, Terrence’s and Linda’s lender is confident with them putting in a larger down payment that we can go with a non-contingent offer. Together we collaborate on an updated and even more flattering letter to Ken and his real estate client, expounding on all the great qualities of this San Francisco property.

We go as far as including a photo of the kids in our presentation package. As we all know, a picture is worth a thousand words and makes a sale so much more personal. Who knows? Maybe this Real Estate Seller is inclined to sell to a nice family who will really appreciate their special duplex.

San Francisco Real Estate Is Competitive

I called Ken to let him know we are submitting a new offer. Ken was gracious, polite and professional, telling me there are 7 other real estate offers on the table. “Just let us know if you need us to sweeten the deal,” I say, “Terrence and Linda just gotta have this property.” I hoped he would be impressed with how pre-qualified my clients are, our super-strong asking price and how badly they want this particular property.

Ken called back a few hours later and wanted a few favors. “Will we use the Seller’s choice of a title company and would we close sooner?” Yes to both. We get the deal.

Have Patient Persistence

So my Pre-emptive Strategy didn’t work, right? Oh, yes it did! It gave Terrence and Linda some time to analyze how much they really wanted the duplex, and helped get them up in price. Plus, they got that 

This real estate transaction had a rocky courtship, but with a fairy tale ending. It pays in sales to hang in there and have patient persistence.

 

Be aware that any clients names have been changed to protect their privacy. Furthermore, Paula Pagano does not accept any liability for the content of any Blogs and this Website or for any actions you take or resultant consequences of actions taken based on the information provided in this communication. Any advice is my opinion after being a 35 year experienced real estate agent in San Francisco.

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