One of the problems facing home buyers today is that there is not a lot of homes for sale, but plenty of buyers looking to buy. This can cause situations where there are multiple offers on a home within hours of it going on the market. You may be wondering how you can stand out from the other buyers and actually place a winning bid. Here is how a real estate agent can help you do it. 

Show You Pocket Listings

A way to avoid the competition that comes with homes on the MLS is to show you pocket listings. These are listings that sellers give to real estate agents for private showings, but do not want to list them publicly. This could be due to the sellers not wanting to let others know that they are selling, avoiding an influx of traffic on their home when they are not ready for it, or simply wanting to feel out the market before they go public.

By viewing pocket listings with your agent, you will no longer have the pressure that comes along with dozens of buyers making offers all at once. This can allow you to make a more competitive offer with only those that have seen the pocket listings.

Use An Escalation Clause

Another option is to make a different type of offer by using an escalation clause. If you've found the home you want and don't want to lose it, then consider this unique method that will actually not have you list a price. 

The way escalation clauses work is that you agree to pay a specific dollar amount above the highest bid. While it leaves the final price of a home a bit of a mystery, it also guarantees that you did not overpay for the home a dollar more than you intended. The sellers will have to show you the top offer to verify that it exists, and you'll be offered the home for the agreed-upon price. Of course, sellers do not have to accept escalation clauses, and they can always ask for your best offer instead. 

Suggest A Cash Offer

While it is not always possible for buyers, it may be worth offering a cash offer to the seller to convince them to pick you. A cash offer takes away the mystery of whether you'll be able to secure financing, and it will help close on the home faster. This can help save the seller time and money by going with you. 

Share