Offer Feedback Tool

Section Two: Review, Refresh & Recalibrate

Now Create Your Top 10 List. This can be anything that’s important to you (location, house details, views, etc). Write your priorities here:

Anything that reaches 6 out of 10 you should bid on, formally or otherwise.
Again, speak to your agent about the particulars of your market.

Create your list of properties you’re bidding on:

Now let’s move onto the process for each property you’re bidding on. It is critical to listen to what your body—not your head—is saying at each step:

Target Property: __________________________________________________________

The Big Hurdle: How scared are you just making the first offer? What are your concerns? Is there anything you need to do to be better prepared? What is your agent suggesting for this opening offer? Does it seem too high, or too low? Are you already worried about losing the property? Does the seller’s agent seem anxious, or confident, before you even submit it? Do you sense the mood trending in one direction or the other?

Notes _______________________________________________________________________

Starting Offer Price:__________________________________________________________

Your Offer’s Been Submitted.
How do you feel about it? Are you already anxious? Are you fidgety waiting for the seller to respond to you? Are you strangely calm?

Notes _______________________________________________________________________

Seller’s Counteroffer Price:_____________________________________________________

Learnings: What have you learned from the seller’s counteroffer? Any new insights about the market? How does this seller negotiate, in tiny steps or in big moves? Do they take a long time? Any insights about how to structure an offer in this market? Any surprising feedback? Is the seller more flexible than you think? Are you excited about their response? Truly disappointed at their lack of flexibility? Or do you feel nothing at all? This is the real litmus test of whether you really love a property or not.

Notes _______________________________________________________________________

Now What? You have a decision to make: Raise your offer, wait, do nothing, or walk away. How will you feel if you lose out on this purchase? How would you feel if you lost out over a very small amount of money? If you decide to do nothing, how long will you wait? What would need to change for you to change your mind? If you aren’t that into the property, it’s time to move on. Think through this with your agent, your friends and family, and your significant other.

Notes _______________________________________________________________________

If you decide to make an new offer or stay firm:

Buyer Counteroffer #1 _________________

Rinse and Repeat. Do you feel you’re moving toward a deal that you like? Are you feeling a growing sense of confidence? Or are you getting less interested in the property?

Notes _______________________________________________________________________

Whatever you decide to do:There are going to be takeaways from every offer you make, even if you lose out in a bidding war. Did you and your significant other agree on this property? If you did, do you feel more confident about your home buying experience? Do you feel your agent is guiding you correctly? Are you more educated about the market? Do you need to adjust your Top 10 list? Has something become more important? Has something fallen off the list? Are you surprised at what you’ve discovered? Make sure to capture all of your learnings!

Notes _______________________________________________________________________