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The Reasons Why Your Offer Was Rejected

You find the perfect house, start creating all of your Home Décor Pinterest boards and BAM – you find out that the sellers didn’t accept your offer. Your dreams of making dinner in the beautiful farmhouse kitchen are crushed and you’re wondering what you did wrong. Well here are a few reasons your offer could’ve been rejected that can help you next time you find a house you want to write an offer on.

PS – I promise your real estate dreams aren’t crushed. There will be another one!

Reason #1: You’re Missing a Pre-approval Letter – Not only is it important to have a pre-approval letter so that you know how much house you can afford, but the sellers are very unlikely to entertain offers without them. If you haven’t taken the time to get pre-approved and show that you are serious about buying a home, why would the seller risk taking their house off the market before knowing if you can even afford the mortgage.

How to Correct This: Talk with local lenders about your options and get a pre-approval letter from them that you have in hand, ready for your Real Estate Agent to scan over with the offer.

Reason #2: You’re Unrealistic – This could relate to a few things, one of them being that you have too many contingencies. Do you have a home sale contingency before even having your house up for sale with an accepted offer? Did you include a long list of items that your offer is contingent on in addition to the absolutely necessary ones. Did you ask for the wine fridge and pool table when the sellers said they are not included? Many items can be negotiated but if you really want the house, you need to be realistic and not over the top.

Another way you can appear unrealistic is to low-ball the sellers with your offer price. When this happens, the sellers may get offended of think you’re not serious. Have market data that backs up your offer price rather than throwing out a number that you think you want to pay if you want to be taken seriously.

One more reason you might be being unrealistic is that you gave the sellers an extremely short turnaround time to respond to your offer. This is a MAJOR turn off. Even if you are in a competitive offer situation, you should focus on strengthening your offer and submitting what you feel is the best you can do rather than pushing the sellers to respond in an unreasonable amount of time.

How to Avoid This: Stick to what is the most important to you when it comes to writing offer contingencies. Make sure you’re going over market data with your Real Estate Agent so that you’re backing up the offer price you’re putting out there. Lastly, give the sellers a reasonable turnaround time. Pushing them into a corner will not result in getting what you want and it will only get you off to a bad start with them.

Reason #3: The Seller is Difficult or Unrealistic – This one isn’t necessarily you can do much about but it could be the reason your offer didn’t get accepted. Unfortunately there are some sellers who are going to be very difficult to work with or unrealistic no matter how strong your offer is.

How to Avoid This: While this one isn’t entirely avoidable, it’s important that before starting your home search that you understand that some sellers are just going to be difficult. Having the expectation that not every seller will agree to what you offer will help eliminate a lot of frustration for you as a buyer when your offer is rejected.

Reason #4: Your Buyer’s Agent Isn’t Easy to Work With – You might be wondering what the buyer’s agent has to do with how much you’re offering the seller. Well the buyer’s agent actually plays a very crucial role in this process because whoever you choose is going to be the one communicating with and negotiating with the listing agent and therefore the sellers, throughout the entire transaction. If the listing agent has had bad experiences with them in the past, they may share this with the sellers, making your offer less appealing.

How to Avoid This: Make sure you’re interviewing your Buyer’s Agent before committing to working with them. Find out what their negotiating style is and get a feel for their personality. Do they seem easy to work with or like they’d make others mad?

Reason #5: You Didn’t Find Out the Seller’s Timeframe or Situation – If you and your agent write an offer without ever asking the listing agent what is important to the seller such as their timeframe for closing or any other factors that might be deal breakers, you might put yourself out of the running when the seller has to decide whether or not they want to accept your offer.

How to Avoid This: Make sure your agent takes the time to get in touch with the listing agent and find out any details that may help you write a more desirable offer.

If your first offer got rejected, there is likely a reason. The best way to make sure your next offer is accepted is to go in fully prepared. Following these guidelines will not only prepare you for what to expect but can help set you up for success! Soon you’ll be entertaining in that beautiful open concept space you’ve been dreaming of!

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5 NEGOTIATING TACTICS THAT KILL A SALE

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
  4. Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
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Random Acts of Kindness – Part 2 (Santa Style)

Ella & I have been showered with multiple acts of kindness in recent days. Example #2.

For the 2nd year we went to the Egg Nog Jog at the speedway, it’s a 5k through the Christmas lights the night before they open it up for the cars to drive through.

We went with Ellen Key and her thoughtful son Hudson. (Friends, why don’t more of you join us for this? It is really so much fun!) After the race (aka walk) they have fireworks and their Christmas Village is open.

Busy weekend, we were running late, although we were not alone. We hit the Start Line about 20-30 minutes after the actual start, which was ideal. It’s a very crowded event so it was nice to have space.

We had a prime spot for the fireworks. After we finished we went to the Christmas Village. It was so late (in kid time) by the time we were ready to head out. Before the drive home Ellen & I took turns running to the bathroom while the kids watched Santa talk to kids on his sleigh.

Of course, while I was in the bathroom, Santa walked over to visit with Ella. I heard about it when I returned. But they didn’t know what Ella wanted for Christmas and couldn’t figure it out. I told Ella we would write him a letter and probably see him again before Christmas to tell him. She didn’t like my answer but didn’t fight leaving.

We were headed to the parking lot when we were chased down by an Elf. Santa wanted to see Ella. And here comes Santa, outside following us. He had wanted to see her again after I was out of the bathroom to see if I could help him understand what she wanted for Christmas – and to have a free photo opportunity with him. Ella & I were able to tell him exactly what she wants for Christmas ❤️

And did you know that one of Santa’s favorite books is Go Dog, Go!???

Example #2 was the same day as Example #1 and this mama’s heart is overflowing with joy. I believe in the genuine kindness of people. I challenge everyone who reads about our experiences to spread this kind of love and joy! #eggnogjog

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Random Acts of Kindness – Part 1

Ella & I have been showered with multiple acts of kindness in recent days. Example #1.

I picked up fantastic out-of-town clients fairly last minute who had a window to see homes Saturday morning. I scrambled to line up childcare but being so last minute, none of our 7 caregivers could cover it.

I was going to pass the clients to another agent in our firm when the firm owner told me “I’ll watch her”. I laughed but he wasn’t joking. Referring the clients to another agent would have been the EASIEST thing to do for everyone involved.

Leaving out many logistical details, between my friend Nina and her husband, another Realtor Brooke Harrelson and the owner of Yancey Realty, Franklin Yancey, Ella had a blast and was well cared for from 8am-2pm! And I have happy clients who don’t know these details but are excited about their move to Charlotte and know that I kick-ass at this real estate thing!

Understand that my daughter is a smart, silly, sassy delight to spend time with; she also has quadruplegia cerebral palsy, she is tube fed and non verbal (not to mention Short Bowel Syndrome, google it). This makes getting any random sitter impossible and makes this gift all the more special to me.

I’m still feeling blessed and overwhelmed. There was never any doubt I joined the RIGHT firm, the best one in Charlotte in so many ways!

Seriously friends, if you know anyone thinking of selling or buying in the Charlotte area, direct them straight to Yancey Realty. We do whatever it takes to satisfy our clients and get the job done!

Stay tuned for Part 2 later this week. Happy Thanksgiving!!

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YOUR Thanksgiving dinner table!

We are a little more than a week away from Thanksgiving, I thought I’d share my thoughts on the dinner table. My memories of Thanksgiving was a looking forward to eating foods we only ate for that one special day of the year. I loved watching my Mom prepare the homemade potatoes for the most deliciousss mashed potatoes I’ve ever had in my life. Watching her seemingly perfect timing of cooking each part of the meal so that everything would be hot & ready at the same time… I marvel at my Mom’s ability to cook amazing meals with what I perceived as great ease.

Me on the other hand, is a quite different story. I somehow missed the “domestic” gene. Maybe sound familiar? I’ve always felt kind of bad for my kids, that my mashed potatoes weren’t as “perfect” as Moms were… that I didn’t prepare every part of the meal from scratch. Know why? Because my gift is different than Mom’s was. I love design. I love fashion design, interior design… home design! So each year I get jazzed to come up with a unique dinner table that gets noticed, using my creativity. And over the years I’ve gotten the kids involved too. For example, I remember asking them how we should display the names by each place setting and every year they came up with a new way. And to the best of my ability, I would do what I could to get them whatever they needed (i.e. leaves w permanent marker, corks with safety pins, blank cards we folded over into homemade place cards with each family member writing their name and decorating their place card and so many more ideas)

And ya know what I’ve come to realize? It’s A-OK that I don’t cook with the finesse of my Mom!!! My family enjoys a meal together, we celebrate all that we’re thankful for… together and it’s a beautiful time. I AM creating memories that will last long after I’m gone. It’s the togetherness.. the love… the thankfulness that counts the most!

So what are you planning for this year’s Thanksgiving? Are you an amazing chef like my Mom? Or are you the creative type that plans Thanksgiving day games? Or are you the one who starts the thankfulness statements going around the table?

Thanksgiving dinner is a time to reflect on how thankful we are on that day and every other day in the year. Focusing on your family, creating special bonded moments will last a lifetime and there’s no one right way to create them. So this Thanksgiving, may you thoroughly enjoy this special day with those you love, with no pressure, just enjoying all that you’re thankful for. What a beautiful holiday!

To your beautiful Thanksgiving!