San Francisco Chronicle - (Sunday)
How to move forward after rejection.
Getting rejected is a part of life. We miss out on job opportunities, relationships and more. Getting turned down can be especially bitter for potential homeowners, especially when they’ve made a competitive offer on a listing.
So how do Realtors buoy a client’s spirits when they’ve missed out on a property they had their hopes set on?
Greggory OnzoTasher of Vanguard Properties said it’s best to be practical with clients, while remaining optimistic.
“It’s important to stay motivated and remember what you loved about that place, and keep looking for a place that makes you feel the way that one did — because it’s out there or will be. Guaranteed,” he said.
Jill Gumina of Compass suggested buyers ask their Realtor exactly where the deal went wrong.
“Ask them if your offering price was too low, or if you are asking for unreasonable contingencies,” she said.
Being a seller’s second choice isn’t necessarily a bad place to be, OnzoTasher said, as a deal with their first selection might not always pan out.
“Never be afraid of being put in backup position for a property,” he said.
He shared a story of a recent client who initially lost out on a property to a buyer with a sevenday escrow. He told his client to keep their offer intact, in case something fell through. Even though he didn’t expect the initial offer to fall apart, it did, and the client was ready with their financing and closed the deal.
“Put it all out on the table, exhaust all options and if it doesn’t work out, shake it off and full steam ahead,” he said.
“It’s important to stay motivated and remember what you loved about that place, and keep looking for a place that makes you feel the way that one did — because it’s out there or will be. Guaranteed.”
Consider writing a backup offer, just to be safe, said Anne Lawrence of Vanguard Properties.
“Ideally, the backup offer should be just over asking and have as few contingencies as possible,” she said.
Gumina said it’s vital for a Realtor to be a cheerleader for their client.
“Be persistent. If you lose one property, keep looking, don’t get discouraged,” she said. Astrid Lacitis of Vanguard Properties agrees.
“I too have been in the uncomfortable position of having to call my buyer with bad news,” she said.”The more data I can share with my buyer the higher the probability of succeeding on the next round. It is my hope that by being straightforward with other realtors they too will be straightforward with me when I need to ‘educate’ my clients.”