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.
Episode #22. Build a strategy to engage with valuable information instead of promoting yourself.
Episode #21. As a real estate trusted advisor how well are you at articulating your value proposition?
Episode #20 When it comes to your moments of truth what tool helps you standout virtually and so much more when listing a home?
Episode #19 How to be Authentic, think out of the box and live your life now. Real Estate and life harmonized.
Episode #18. Having a coach is important, but being coachable is just as important.
Episode # 17. Your true worth is determined by how much you give back rather than how much you receive in payment, Diana Patterson explains.
Episode #16. Starting in 2018 Kamila took Ninja right away, then started coaching. Listen how she can maintain an evergreen business by being herself.
Episode #15. There is an audience on Tik Toc that wants to see your value-added post. Kehaulani Keanaaina with Windermere Kona explains.
Episode #14. Not all communication is created equal. Focused, Direct, Compassionate. Nuggets from the book Your Time to Thrive.
Episode #13 How do Windermere Agents/Offices help the communities we serve? The power of giving back through our foundation.
Episode #12. The power of communication is determined by your ability to truly listen.
Episode #11 Can I have a great business and a full time assistant in three and one half years? Mark Chavez says yes.
Episode #10. Three strategies when it comes to having a balanced life and an evergreen real estate business based on referrals.
Episode #9. Are you a consistent go giver? Have you figured out how to not complicate things and just get it done? Well Erin Hoppe has some advice on this topic.
Episode #8. Are you using video today to connect and build relationships? Well Nancy Chapin is doing video and shares here ideas.
Episode #7. It is all about showing up professionally. Listen to what a true expert is saying when it comes to representing your buyer or seller in this frenzied market.
Episode #6. Use the 5 magic questions to tap into your clients’ future dreams and goals.
Episode #5. One aspect of getting and selling listings is keeping your process consistent and cutting edge.
Episode #4. The power of consistent Real Estate Reviews, with Sol Simmers.
Episode #3. You do not have 98% of your business be referral base by accident. It happens when you create quality long lasting relationships.
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