After several showings, your buyer finally finds a home they want. For a new real estate agent, this is where things start to get interesting.
Your client is excited and ready to move forward, but before you start filling out the offer, there are several things you should discuss.
Preparing your client for making an offer on a house isn’t about telling them what decision to make. It’s about making sure they understand what goes into an offer, what choices they have, and what could happen after it’s submitted.
Start with the Property and the Market
Before discussing an offer price, take a closer look at the property and what’s happening in the area.
- How long has the home been listed?
- Have there been recent price changes?
- What have similar properties sold for?
- Are homes in that price range moving quickly, or are they sitting on the market?
This information gives your buyer some context before deciding what they want to offer.
The asking price is important, but it doesn’t tell the whole story.
Talk About More Than the Price
New buyers sometimes think an offer is simply choosing a number and sending it to the seller. There’s much more involved.
The offer can include the purchase price, financing terms, deposit, requested closing date, inspection provisions, and other conditions depending on the contract being used and the buyer’s situation.
Take the time to go through these items with your client so they understand what they’re agreeing to before signing anything.
If questions come up that require legal, lending, or other professional advice, bring in the appropriate professional rather than trying to answer outside your role.
Make Sure Financing Is Still in Order
If your buyer is financing the purchase, this is a good time to make sure nothing has changed since their initial conversation with the lender.
The price of the property, loan type, available funds, and estimated costs can all affect the financing side of the purchase.
Encourage your buyer to speak with their lender if they have questions about payments, loan terms, cash needed for closing, or how a particular offer could affect their financing.
It’s much better to address those questions before the offer is submitted.
Explain the Deposit
Buyers may hear terms such as earnest money or escrow deposit without fully understanding what they mean.
Explain what the contract requires, when the deposit is due, and where it will be held. Make sure your buyer understands that deposit deadlines matter and shouldn’t be treated as something to take care of whenever they get around to it.
The exact requirements depend on the contract, so review the applicable terms carefully with your client.
Discuss the Timeline
An offer contains dates that can become important very quickly once it’s accepted.
Inspection periods, deposit deadlines, financing requirements, and the closing date can all affect what happens during the following weeks.
Before your buyer agrees to those dates, make sure they’re realistic.
For example, a buyer who will be traveling during the inspection period or needs extra time for financing may need to think carefully about the timeline before signing.
Prepare Them for Different Responses
Submitting an offer doesn’t automatically mean the seller will accept it. The seller may accept the offer as written, reject it, or respond with different terms. There may also be other buyers interested in the property.
Talk about those possibilities before you submit anything. Buyers tend to handle the process better when they know in advance that there could be some back-and-forth.
Don’t Let Excitement Rush the Process
Finding the right property can be emotional, especially for a first-time buyer. It’s easy for someone to become so excited about a home that they want to sign immediately.
Give your client enough time to review the offer and ask questions. Make sure they understand the terms they’re agreeing to rather than simply focusing on getting the house.
Moving quickly when the market requires it doesn’t mean skipping the conversation.
What Happens After the Offer Is Accepted?
Once the buyer and seller reach an agreement and the contract is executed, the transaction moves into a new phase.
Deposits may be due, inspections may need to be scheduled, financing continues, title work begins, and several other professionals become involved.
This is where staying organized becomes especially important.
New agents should review the contract carefully, enter important dates into their calendar or transaction system, and speak with their broker if they’re unsure about what needs to happen next.
Your Broker Is a Resource
Writing your first few offers can feel intimidating… use your broker.
If you’re unsure about a section of the contract, how something should be completed, or whether a situation needs additional attention, ask before submitting the offer.
It’s much easier to correct a question beforehand than to deal with a mistake after everyone has signed.
Build Your Real Estate Knowledge at LEAP
At LEAP Real Estate Academy in Orlando, future agents learn the foundation they need to understand Florida real estate contracts and the responsibilities that come with representing buyers and sellers.
Once you’re licensed, experience will add another layer to that education. Every buyer, property, offer, and transaction will introduce something new.
Learning how to prepare clients for making an offer on a house is one of those skills that improves with every transaction. Take your time, explain what’s happening, use the professionals around you, and make sure your buyer understands what they’re signing before the offer goes out.
