4 Ways to Win the Multiple Offer in Real Estate…
You have trudged through countless houses and finally, Eureka, you find the Perfect Home!
Now you and your Realtor rush back to the office to write up an offer, only to hear the disappointing news, “there are multiple buyers offering on the home.” How dare they? How can you give yourself the best chance to win the Multiple Offer situation?
Below are 4 Ways to help you Win with a Multiple Offer!
1) Be Prepared, Be Pre-approved! If you are not already pre-approved, winning this situation will be nearly impossible. Get a preapproval letter in hand before shopping! It’s also important to have a Pre-approval Letter from a well known and respected, Local Lender! Use the lender your Realtor suggests, or someone referred to you by a friend or family member who has obtained a loan from him or her.
2) Be Professionally Presented! It may sound silly, but the Visual Aspect of your purchase offer can impact the Seller’s decision. If there are 4 offers on a home and yours is a hand-scrawled, half-completed, nearly illegible jumble of paperwork without the proper page numberings while others are cleanly-typed, clearly organized with correct page numbering and easy for the seller to read, you are putting yourself at a disadvantage. Sign your name legibly and select a Realtor who uses good software and is very technologically forward in their operation. (I’m applying for the job!)
3) Be as Simple as Possible! If you can obtain the financing without asking for the Seller’s to pay any of your closing costs, this is the time to use that to your advantage! Sellers often have a hard time understanding the “3% back in closing costs” part of a purchase agreement. If it’s difficult to understand, it can easily be set aside in favor of a more straightforward purchase agreement. Plus the Listing Realtor may be cautious about the home getting an acceptable Appraisal and may advise against your offer. This is especially true in a multiple offer situation since the prices offered may already be higher than list price.
4) Be Flexible! If you can, allow the Seller to select a closing date that works best for their schedule. Many times, I have been the Listing Agent for Sellers who pick the lower dollar amount offer because of the convenience of flexible terms. Let the Seller be the decision maker on as many terms as possible including Personal Property to be included, the Closing Date, or Posession Date (offer to let the seller have 24 hours after to closing to vacate the home).
Shopping for a house is one situation where it really pays to be prepared. Be sure to discuss with your Realtor and shopping partner, if any, exactly what is the top dollar you can spend. Adjust your search criteria accordingly so you can avoid getting into a multiple offer situation where you just can’t offer enough money. Best of Luck!
If you would like any additional information, please give me a call at 612-889-6496 or Ask Me a Question here.
Sheryl Petrashek is a Realtor with Re/max Results. She is based in Apple Valley and Sells Real Estate in Apple Valley, Burnsville, Eagan, Lakeville, Farmington, Prior Lake, Savage and Rosemount MN.
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Sheryl was a great realtor to work with. She is incredibly knowledgeable about the market and worked with us to promote and sell our home. She is easy to work with and also has a great team working with her. We highly recommend Sheryl to anyone looking to sell their home or her assistance in buying a new home. She definitely takes great care of her clients.
Sheryl was such a pleasure to work with while selling our house and buying a new home. It is clear that she loves what she does and she is very knowledgeable about the market. She gave us some tips about putting our house on the market early in the spring to get a jump start and she was completely right - our house sold in just one day! She made what could have been a completely stressful experience smooth and enjoyable. She was always quick to respond to any questions and always made us feel like we were her most important clients. We highly recommend Sheryl!
I would like to THANK YOU for working with me to sell my property. Being in a different state, I thought that it might be a bit tough for me to sell my property but you always went that extra mile to ensure that things were taken care of. You gained my trust from fixing minor repairs to working with renters for showings when needed. I appreciate with the service you provided to sell my property and am definitely glad that it was done without me having to feel like I needed to fly out to do anything.
Working with Sheryl and her entire team has been a wonderful experience. We are so thankful for their knowledge, experience and willingness to help. It is clear that Sheryl loves what she does and she does it well! Sheryl was highly recommended to us and we will be happy to recommend her to our family and friends.
Sheryl and I have crossed paths several times over the years. We have worked on numerous transactions & they have all gone very smoothly. Her expertise in new construction made the process so easy & seamless. She is professional, honest & likeable. It's no surprise that a good portion of her business is repeat customers & referrals. I highly recommend Sheryl!
Sheryl sold our home after the market crash. She was professional, enthusiastic, and, most importantly, knowledgeable. She was able to explain the intricacies of the offer and counter offer, the inspection, the bank's opinions. She knew my neighborhood, and had actually sold homes there before selling mine. She goes above and beyond in every area. I even recommended her to my cousin when she sold her lake property. I only have good things to say about Sheryl.
I was introduced to Sheryl a couple years ago when we purchased a new home. I am very impressed with her knowledge, professionalism and work ethic and I have recommended her to many friends. Sheryl always has a strong grasp of current market conditions and will take the time to share her knowledge and guide you through the buying/selling process.
I have worked with at least a dozen realtors over as many years in MN and none has shown the marketing acumen that Sheryl and her team applied to the sale of our townhome. I feel like I have received white glove service. Sheryl must have been developing her marketing strategies for some time. They report regularly on competition in the area so that I can stay informed and are not shy about telling me what I need to do to actually sell. Most importantly, they don't just rely on the internet or street sign to sell the property. They use their analytical capability to review data from the MLS and elsewhere and tailor postcard mailings and email campaigns to the most likely buyer (in my case it was reverse prospecting people who had...) My past brokers have done ok - they made sales - sometimes very good sales - but I felt like it had very little relation to their marketing capability (several of these are good friends now, in spite of my experience) Sheryl and her team earn their fee through intelligent and aggressive salesman(woman)ship.
Wow, we are so fortunate to have listed and sold with Sheryl...best team ever! Sheryl took the time to explain processes and how things work in today's market. Gave us honest answers and was wonderful with keeping us informed throughout the process. We would highly recommend working with Sheryl and her team.
We did a google search of realtors in our area and that's how we met Sheryl. We knew after our first phone call to her that we wanted her to be our realtor. Sheryl is incredibly patient and good at explaining what to expect in the home selling/buying process. When looking at homes, she took the time to educate us on the pros and cons of each home. She knew what we wanted when we often didn't know what we wanted ourselves. We also had the pleasure of meeting her husband Bo who was equally a joy to meet. We wanted to see a home on short notice and Bo stepped in for Sheryl. Her whole team is wonderful and they were always there to answer our questions. We really enjoyed looking at homes with Sheryl and will miss doing that now that she found us our home. We will definitely suggest her to anyone we know looking to buy/sell a home.
I have bought and sold three houses in Dakota County since 1992. I have never had such a great experience with an agent. The whole process from first interview, to closing was absolutely smooth and easy for me, because of Sheryl Petrashek and her staff. They never failed to keep me up on progress, and reassured me when I got nervous!
Sheryl was a true professional helping me sell my home in a fast and efficient manner. I had an offer within 10 days of listing my home and sold at the price that I wanted. In particular, she spent a great deal of time upfront helping me understand the market and getting my home ready to put on the market. She always responded back within hours and is one of the hardest working real estate agents you'll ever find.
Sheryl Petrashek is an amazing Realtor to have representing you. Sheryl not only helped us sell our home by working with us to create cost effective ways to maximize the value of our home. But she also helped us build our dream home. With the expected hiccups in a build, Sheryl helped keep the builder moving forward on our behalf and helped keep us focused on the end goal of our new home. I would strongly recommend Sheryl Petrashek as she will work so hard to help you sell your house and/or find your next home.
Sheryl is the definition of a professional realtor. She loves what she does for a living and it is evident in every phase of the buying or selling process. When we sold our home with Sheryl, she did a very extensive market analysis, provided input on how to ready our home for sale and communicated feedback each time we had a showing. When we had to make a price adjustment while selling, Sheryl provided hard data as to why that was necessary. Sheryl is a wonderful communicator and knows the business inside and out. I recommend her without reservation for any real estate needs.
A friend told me about Sheryl after I asked him to help me find an agent who can help sell my home. I worked with another agent before her, but got no result. Sheryl came in, gave me a professional assessment of what ‘s needed to market my home successfully. Her and her highly motivated support staff got involved and listed my home in every medium available. Sheryl made frequent follow-up with agents showing my home, and routinely adjusted her marketing strategy to move the house. At the end I got competing offers. Sheryl total involvement along the way was priceless, therefore I highly recommend her and her tireless team to anyone who is looking to sell their home.
We tried selling our house by owner first, then after 40 stressful days, I called Sheryl. We've known her reputation and felt it would be smart to connect with her and see what she brings to the table. The first thing she suggested was raising our price, take new pictures, stage the house and a few other things. As soon as she left, we knew we were in the hands of a true professional. Sheryl's extensive marketing and local connections soon found an offer after just 5 days back on the market. She managed this transaction with the highest level of professionalism and kept the stress down, always looking out for our best interest. If you want to work with the best in the business, call Sheryl!
Sheryl is very knowledgeable about real estate in general and really excels at getting your individual house sold. She was great at identifying exactly the type of buyer that would be looking at our house. From there she told us what updates to make – which ones would really be worth our time and money. She also had recommendations on who could do those updates. Sheryl is an exceptional realtor to work with, you will not be disappointed!
Working with Sheryl & Bo Petrashek along with her team in the selling of our townhome in Burnsville and our home purchase in Apple Valley far exceeded our expectations on many levels. From our first meeting she put us at ease answering all of our questions. As I'm sure she would tell ya there were many. Also being easily accessible and just over all great having her in our corner working for us. To be honest now that we close this Thursday, the only downfall is that we will actually miss her. If the need ever arises where you're in the market to buy or sell I would highly recommend Sheryl and her team. I know she will always be my go to should we need an agent.
Sheryl is a dream to work with, she is very knowledgeable about the current market and was able to help us sell our home in Apple Valley. The entire sale was very smooth and there were no surprises as she walked us through every step! I highly recommend Sheryl to anyone selling a home! Thank you Sheryl!
From the moment we met Sheryl, we liked her. She has a personality that sets you at ease and a professionalism and knowledge that give you loads of confidence in her guidance. Our home values had been negatively impacted by neighborhood foreclosures and lack of comps, but Sheryl put her real estate expertise to use and was able to market our home in such an amazing way that we were able to sell our home for much more than we had hoped! (We had two offers in four days– one for asking price and one for more than asking!) I might also add that we were out of town for much of the time due to a work relocation, and Sheryl kept a close eye on all of the details in our absence and made sure everything ran smoothly. We would definitely recommend Sheryl Petrashek for any of your real estate needs. She is the complete package– friendly, professional, knowledgable, and detail oriented.
This is my second time working with Sheryl and she was every bit as thorough and knowledgable as she was when I worked with her the first time in 2006. It’s clear she really knows the process and had everything covered before anything ever occurred to me to ask her about. I’ll definitely look her up the next time I need anything handled in the realm of real estate, and certainly I’ll refer people I know to her as well!
Sheryl is a fantastic realtor. She always vey helpful at trying to find the perfect house you have in mind and then she will go the extra mile to make sure you get that perfect home. I have had the opportunity to work with Sheryl several times and each time I have been completely satisfied. This last home we bought required a lot of time and Sheryl was always great at keeping us informed of how things were coming along and explaining why it was taking so long. I always had lots of questions and Sheryl always knew the answer. Thanks Sheryl....you are the best!!! I will always recommend you to everyone that is going to be either purchasing or selling a home.
Sheryl has been everything I would have hoped in a realtor when we decided to buy our home. She came highly recommended from a co-worker, and I can definitely see why. Even though I am sure Sheryl has numerous clients she is working with, she always makes me feel like I am her only client. She worked day and night to help my husband and I find the perfect home, and we did! And even after that, she checked in with us to make sure we didn’t have any questions and we knew what the next steps would be. I cannot say enough how much easier our home buying process was because she was our realtor. She gets two huge thumbs up!
I could not have been more impressed with Sheryl (and also her husband Bo). This duo was super helpful, not only with their knowledge of the area, schools, and neighborhoods; but also with being able to understand our taste and lead us to the perfect home and community! They are by far the best experience we have had with a realtor. They were patient, responsive, always flexible and available, but most importantly they were a lot of fun to work with.
My fiancé and I had a great experience working with Sheryl! We started out looking at used houses in the Apple Valley, Eagan, Lakeville area and eventually settled on purchasing a new house in Lakeville. Her wide breadth of knowledge for both used and new houses really helped us feel comfortable in the decisions that we were making. She was always available for questions and was exceptionally helpful in helping us through a miscommunication that came up with the developer and the city. We highly recommend Sheryl as a realtor!
Sheryl did a great job selling our home, took only 14 days to get a purchase agreement. Communicated excellently between buyer and seller. She's very experienced and has seen it all. Highly recommend Sheryl, AAA+.
We feel fortunate to have worked with Sheryl and her entire team! They spent so much time and energy showing us houses and explaining
the process. As first time home buyers we had many questions and Sheryl was always available to answer them and make sure we understood everything . We feel confident that Sheryl's experience , confidence , and skillful presentati on is what helped us get our dream home and made the whole process run smoothly. We are very grateful to Sheryl and her whole team and highly recommend them to anyone looking to purchase a home
Sheryl and Bo went above and beyond expectation with ideas, personal attention and services for enhancing my buying experience on both the buying and selling side of the equation. They were organized, professional and set expectations that ultimately proved to be spot on.
Sheryl Petrashek has been our realtor for many years. She has helped us with several real estate transactions, both buying and selling. Sheryl is extremely knowledgeable, experienced, and very professional. We would highly recommend her to everyone. She and her wonderful team have gone above and beyond to ensure a very smooth process with each of our real estate transactions.
She was communicative, efficient and worked very hard to help us sell our home! Our townhouse sold faster than we thought and we got what we wanted for it. She was very helpful!!
Sheryl and her team helped us sell a difficult piece of property, a condominium we owned for quite awhile. They were wonderful! Her team handled the complicated sale extremely well! They were always responsive and thoughtful. Sheryl especially, helped walk us through the process and always communicated what the next steps would be so we could stay prepared. I really felt that they put our needs first and they did it with a smile. Even though they were busy, we always felt like we were their only clients. Sheryl was the perfect Realtor to sell our home. We will definitely use her again for our future real estate needs and we would recommend everyone we know to her and her team.
We have used Sheryl to sell and buy two homes in the last 15 years and have found her to be the ultimate professional. From tips on preparing our home right down to negotiating a PA. She was always a phone call away. We have also referred her to two different family members over the years and would not hesitate to refer her again.
I had a great experience with Sheryl and her entire team. She was available for questions anytime I had them and was flexible in scheduling time to view properties. I'd highly recommend her to anyone else I know that is purchasing a home as her knowledge and expertise made my home buying experience fun, exciting and most of all, painless. Aaron, Maple Grove
This was our second house with Sheryl, she's done a fantastic job both times. She and Bo are very knowledgeable about the sale and purchase of homes. We will definitely be using them again for the third house! Thanks again Bo and Sheryl!
Sheryl is a great realtor. She had great resources and go to people for project work. I appreciate her marketing approach. Her website was great. The photos of the house were done nicely. She was willing to help us with anything we need and explained the sales process well.
This is a second time that I worked with Sheryl in purchasing my home and all I can say that both times I felt like I was her only client. I had specific need for a particular floor plan and she was amazing at finding exactly want I needed/wanted. She puts time and effort to make her clients fully satisfied. She is extremely knowledgable and gives great advice.
Sheryl was such a joy to work with when selling our first home! She made the process very smooth and my husband and I knew we could trust her with every detail. She was upfront and honest so we had very real expectations when listing our home. She exceeds the competitors in marketing and knowledge of the market. We always knew Sheryl was on our side and in every situation she represented us with integrity and professionalism. We would refer all of our family and friends to her and we will definitely be customers of hers again. We had an offer on our home in 3 days and sold our home more quickly than we imagined! Sheryl and her team are wonderful!
Sheryl leveraged her strong knowledge of the real estate marketplace and her negotiation skills to obtain a lucrative price for the home we recently sold and assist us in the purchase of our new home. She took care to ensure that all aspects of the sale and purchase processes kept progressing on a timely basis and handled obstacles skillfully to support our best interest. I would highly recommend Sheryl’s services to anyone and everyone in need of a professional who gets the job done!
Sheryl is a very caring agent.She will do everything she can to help you. She also found us a home. She is the best you can find. Thanks for everything. By the way Bo is great too.
Sheryl - You represent the essence of what we feel a realtor should be. Your commitment to the sale of our home was always present as we felt completely assured that everything was under control. Your knowledge in the market and explanations to our questions were always communicated in a prompt response weather it was directly from you or one of your assistants in your office. Thank you for making us feel as though we were your only client even though we were aware of how perpetually busy you were. We have and will continue to recommend you to everyone we know!! Blessings!
I recently sold my home and used Sheryl and her team as my realtor. Before the transaction was even complete I was already recommending her to my family and friends. She has such a broad understanding of the market and has a passion for what she does. I really appreciated the one on one time she spent with me to explain the market conditions, my home’s value and all of the options available to me. Sheryl is my realtor for life!
Sheryl Petrashek & her team were a great support through our downsizing this last year. From the beginning Sheryl listened and made wonderful suggestions to what updating was needed to get our house ready to sell. Her expert knowledge with the market analysis and explaining to us in layman terms so we could understand was much appreciated. She never pushed us to sell sooner than we were ready. She gave us all the pros & cons for what season to put the house on the market was best, and when we were finally ready it happened in the Fall and Sheryl was all in! Once the house sold, her whole team jumped into action, with helping us find a new place to live and working out all the little details to get us to closing. We will always be grateful for choosing Sheryl to represent us in the journey that we’ve been on. When we sell/buy our new house Sheryl will be the one we call. OUTSTANDING!!
Sheryl has been a godsend to us in the last few months. Not only has she helped us sell our old home in LESS THAN A WEEK, she is also helping us in the process of building our new home. Sheryl is everything you want in a realtor: personable, knowledgeable, honest, a great communicator and she has great integrity. She hasn't just been our realtor but she's also become a friend; it says a lot when you look forward to meetings and conversations with your realtor! If you want someone you can trust who will also make the process fun you need Sheryl!
The Petrashek Team was great. Very organized and excellent about keeping us informed. This was the first opportunity to work with Bo and he too was spot on about his recommendations. He gave us sound advise on different aspects of each property we chose to review. When we put our house on the market, Sheryl was excellent at what we should ask and what we should expect to receive. She was right on the money. I'm so glad we partnered with this team again. I hope to be in this house a long time, but if anything should change, I would only call on Sheryl Petrashek for the outstanding results we have received.
Sheryl has handled multiple transactions for me and members of my family. Each time she has outperformed in her analysis of the market condition, her preparation of the home for sale, marketing the property through on-line, traditional marketing resources and in person efforts, hosting multiple showings, handling multiple offers, negotiations, and ultimately the closing. I have worked with many Real Estate Agents personally and in a professional capacity in the past. Because of the number of properties I have been a party to the sale of, I am often asked for recommendations. Sheryl is the only Agent I recommend. I appreciate her market knowledge, her no nonsense attitude, her willingness to discuss and consider strategies, as well as her ability to handle all parties including seller, buyers, renters and other interested parties. She has consistently gone over and above to get the home sold for the highest possible price
I am beyond delighted with the services I received from Sheryl, and her team! Sheryl’s marketing strategies for the sale of my townhome were incredibly well thought and professional, and as a result, my townhome sold very quickly. In a competitive market, Sheryl ensured that I was able to see new homes as soon as possible during my search for a new home. Sheryl, and her team, remained in constant contact, and they were always there to answer any questions that I had, or schedule a showing at the drop of a hat. The selling, and buying, processes were beyond smooth and I couldn’t be more grateful for the services I received. Sheryl’s years of experience, marketing strategies, and communication made the selling, and buying, processes painless and easy. I would highly recommend Sheryl’s services for your selling and buying needs. Thanks for everything to Sheryl, and team!
Sheryl and Bo are a great team and put together an outstanding marketing plan for our home. The result was seven showings and multiple offers in three days on the market and a sale for more than our asking price. The follow through on the details has been outstanding. We would highly recommend them to anyone looking for a great agent.
Sheryl has been great throughout the entire process of finding and negotiating the purchase of our new home. We feel as though we have always been her top priority. Her responsiveness to our questions and concerns and her dedication to our project has been outstanding. Her knowledge of the local area and the constructions methods and terminology is impressive beyond compare. She has made the entire experience very pleasant and painless. We will highly recommend her to anyone planning to buy a home.
Sheryl was referred to us for our unique home buying experience. Her understanding our of needs ensured that our initial property purchase would ultimately allow us to fulfill on our home building goals. Sheryl market knowledge with property visits were always spot on and informative. She always had her information prepared and outlined to provide the best options a property had to offer. Sheryl's candor navigating those options was very much appreciated, as she always kept our long term goals in site. Sheryl is an "all-in" agent. She will ensure that your expectations - start to finish - will be met, and that your home buying experience will be a pleasant one!
Sheryl is absolutely wonderful! In this economy I thought selling our home would be next to impossible but Sheryl made it so easy! Sheryl will go that extra mile for you. She is extremely knowledgeable and offered great advice and recommendations to get our home ready for showings. She is not only very professional but very likeable and friendly. I highly recommend Sheryl and look forward to working with her to buy my next home!