Blog Stories How To Win The Bid

How To Win The Bid

By Kim Parmon, February 13, 2020

The first quarter of 2020 has shaped up to be a HOT seller’s market.  It seems like most properties are getting between three and thirty offers right now!  This can be overwhelming to buyers.  Do you really have to go 100k over asking price to win the bid right now?  Will this insanity ever end?!  (I know that’s how my clients feel and, people, I get it!)

Here are the five major factors that contribute to an offer being accepted:

  • Price.  This is a no brainer.  Your agent will help you look at the comparable sales in the area and strategize about where your offer needs to be.  Sometimes the list price is artificially low in order to drive interest.  Don’t lose heart!  Your agent can guide you and let you know what a realistic price looks like.
  • Terms!  Are you able to close an appraisal gap?  Can you shorten your inspection period?  Are you able to allow the sellers time after closing to stay in their home before they close on their next purchase?  If you can be flexible with the terms of your offer it can make a huge difference.  Talk to your agent and see if they can find out what the seller really wants.  If you’re comfortable giving it it’s a win-win!
  • A personal connection.  Sometimes writing a letter to the seller can put your offer over the top.  I once had a client write a love letter about a seller’s garden and all of the things she was excited to take care of if her offer was accepted.  She loved plants too and there was an instant connection between the two parties.  It really helped seal the deal!
  • Work with a reputable local lender.  This matters more than a lot of people understand.  Yes, that online company or giant bank may be able to get you a super low rate but will it matter if you can’t get an offer accepted?  List agents want to know that a buyer will CLOSE.  This means that the lender needs to know their stuff and not make false promises.  If your lender has a good reputation in the local community it can make a big impact on the way your offer is perceived.
  • Work with a reputable agent who knows their stuff!  It’s not just the number that matters in a competitive situation, the whole presentation of your offer makes a difference.  This includes your team!  Chose an agent that has a stellar reputation and is a great communicator.  It can seal the deal in a multiple offer situation!

Best of luck to you buyers out there!  Most importantly, don’t lose heart.  The right property will come along at the right time.  If you need help navigating this hot market I’d love to help!  Call me at 503-438-5101 and let’s talk strategy.

Kim Parmon

Principal Broker | Earth Advantage Certified | OR

She/Her

Kim Parmon Principal Broker  Lead Listing Agent Earth Advantage Certified | OR kim@livingroomre.com Oregon is the fifth state that Kim has called home in her life, and this one is sticking!  After moving multiple times in her childhood, Kim fully understands how empowering homeownership and having roots is.  She loves waking up every day in this beautiful place and wants everyone to experience what it feels like to live in their dream home. As a kid, Kim spent her free time wandering through open houses and exploring construction sites for the fun of it.  After careers in the professional ballroom dance world, the entertainment industry, and the service industry, Kim stumbled into real estate as both a passion and a profession through the purchase of her first bungalow.  After renovating it with her husband and selling it for enough of a profit to pay off their debt as well as buy a new house to live in, everything clicked: she decided to get her real estate license and help her community experience the emotional and financial benefits of homeownership.  Kim put down roots in Portland in 2015 and has cultivated a referrals-based business throughout the years.  She understands that real estate is a service and the experience she gives her clients is first-rate.  She works hard to anticipate needs.  She is responsive, thorough, empathic, and a skilled negotiator who enjoys market analytics and strategy as much as she enjoys connecting with her clients.  Her ethics and reputation are the cornerstones of her business and the happiness of her clients is the yardstick that she measures success against. Kim merged her business with the best agents in Portland at the beginning of 2022, which has allowed her to give her clients more resources, more advocacy, and a top-notch real estate experience.  She is honored to be a part of her incredible team and feels lucky to go to work every day. In her free time, you'll find Kim enjoying lazy evenings by the fire with her husband, daughter, and rescue dogs.  She loves dancing, live music, exploring all of the beautiful places around us in the PNW, enjoying a cider and a good meal with friends, and browsing Powell's for a great new book. Andee Ziegler  Licensed Listing Team Operations Manager andee@livingroomre.com Loving where you live will change your life. Everyone deserves that joy. For me, real estate has been a way of nurturing my community and doing what I can to help people find stability, grow generational wealth, and create a little space of their own in the world. For 15 years I found the most joy in helping first-time homebuyers, guiding my peers through their first major investment and dreaming up what home means for them. I’ve done restoration work on homes from a variety of eras, 1894 Victorian farmhouse to classic 1950’s ranch. I enjoy empowering new homeowners with the knowledge I’ve garnered over the years, from systems to finishes.  In 2022 I joined forces with some of the best realtors in the biz and shifted my focus to operation management for listings. This welcome change opened up space in my life: more cake, less pants.   Andee Zeigler | Licensed Listing Team Operations Manager | andee@livingroomre.com Jessica LeDoux | Lead Buyer Agent | Broker Licensed in Oregon | jessica@livingroomre.com  Karim Alaeddine | Operations | Principal Broker Licensed in Oregon | karim@livingroomre.com  Jenessa VanZutphen | Buyer Operations Manager | Licensed in Oregon | jenessa@livingroomre.com 
Read More
  • T: 503-438-5101
  • kim@livingroomre.com

You might also enjoy

Hello, its Real Estate by Julia!

Julia Robertson

Let me re-introduce myself. Hello, I’m Julia! Real Estate Broker in Oregon, Washington and Utah. I’ve...

REAL ESTATE NEWS: LIVINGROOM SPRING NEWSLETTER!

Aryne + Dulcinea

THE LRR SPRING NEWSLETTER IS HERE! Check out Living Room Realty’s Spring newsletter full of stories,...

Just Listed! Rose City Park Jewel Box!

The Twin Team

3325 NE 73rd Ave Portland, Oregon 97213 Redesigned, reimagined and restored to perfection! This sweet sized...

PORTLAND NEWS: 12 SEASONS OF PORTLAND

Aryne + Dulcinea

12 SEASONS OF PORTLAND THIS IS A FUNNY ONE! PORTLAND IS KNOWN FOR (4) SEASONS. BUT...