Michael Fanning Podcast host talks to Anders Ibsen and Stevi Fanning about the details on contingent offers.
- Stevi Fanning is a real estate agent in Idaho.
- Anders Ibsen is a real estate agent from the greater Tacoma area with Windermere Real Estate.
Bullet Points:
1. The podcast discusses the power of contingent offers and the difference between types of contingent offers.
2. A contingent offer means buying and selling a property at the same time, where the buyer needs to sell their current home to buy the next one.
3. There are two types of contingent offers in Washington state: Form 22B (buyer needs to accept an offer on their current home) and Form 22Q (buyer has already accepted an offer on their current home).
4. Form 22B is less competitive in multiple offer situations but allows more flexibility in timelines.
5. Form 22Q is more rigid in timelines but more competitive as the buyer is already under contract.
6. Educating clients on their equity position, competitiveness of their home, and occupancy situation is crucial in contingent offer scenarios.
7. Listing agents should actively communicate with the buyer's agent to ease the seller's mind and build trust.
8. Buyers can initiate negotiations on the terms of their home listing, such as reducing the list price if no offer is received within a certain period.
9. Bidding wars can be won with awareness of what it takes to win, emotional preparedness of clients, and a competent agent.
10. The competence of the other agent is crucial for a successful contingent offer transaction.
11. Reputation and ability to work well with other agents can sometimes outweigh the strongest offer on paper.
12. Being in a collaborative and educational environment as a new agent is important for learning about complex transactions like contingent offers.
13. Firm culture and emphasis on professional development play a significant role in an agent's competence.
14. Continuous education on changing contract forms and building trust and confidence with clients are essential.
15. Clients should choose firms and agents dedicated to producing successful, productive agents rather than treating agents as mere sources of monthly fees.
Season 8 Episode #1. "Navigating the NAR Settlement: Strategies for Transparent Buyer and Seller Conversations."
Season 7 Episode #10. "The Swap Until You Drop Wealth Strategy: Mastering 1031 Exchanges with Tax Nerd Russell Marsan"
Season 7 Episode #8 How to Massively Increase Your Real Estate Business Through Referrals: Agent-to-Agent and Sphere Strategies.
Season 7 Episode #7. "Realtor Social Media Mastery: How Patrick Uses Facebook and Instagram to Build His Brand and Get Referrals"
Season 7 Episode #6. "The Open House Master: How Christopher Rigby Turns Open Houses into Client Goldmines Through Unparalleled Preparation and Professionalism"
Season 7 Episode #5 The Sustainable Real Estate Agent: How to Shift from Transactional to Referral-Based for Long-Term Business Success
Season 7 Episode #4 "Get Comfortable with Being Uncomfortable: The Proven Benefits of Embracing Daily Challenges"
Season 7 Episode #3 Becoming a Client Whisperer: Lessons on Service from a Generational Agent
Season 7 Episode #2. "RISE and Shine: Boosting Your Real Estate Business with Consistent Professionalism"
Season 7 Episode #1. Unstoppable: The Keys to Consistently Winning 40+ Weeks and Achieving Your Goals
Season 6 Episode #9. Preparing for Your Real Estate End Game: Succession Planning Strategies to Future-Proof Your Business
Season 6 Episode #8 "iPhone and Android Tricks to Work Smarter: Sean Werner Shares Tips for Real Estate and Mortgage Pros"
Season 6 Episode #7 "Supporting Families in Need: The Windermere Foundation Comedy Night Fundraiser"
Season 6 episode #6. Relationships Over Transactions: A People-First Approach to launch your career in Real Estate.
Season 6 Episode #5 28 Years Building New Homes: Dana Adams on Working with Builders and Developers.
Season 6 Episode #4 Thriving in Turbulent Times: How Real Estate Trusted Advisors Outperform the Market.
Season 6 Episode #3. Authenticity Sells Homes: How Real Estate Agents are Using Social Media to Attract Their Ideal Clients.
Season 6 Episode #2. Building a Real Estate Business on Referrals and Relationships with Jeanette Eide.
Season 6 Episode #1 Leveraging AI to Enhance Real Estate Marketing: Insights from Industry Experts. Todd Steinberg and Sandy Dodge.
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