How to Stay Competitive in a Hot Spring Market
Success Story: How We Helped our Client Secure A Trophy Multifamily Out Of 17 Offers
This past spring, we had the opportunity to help a client—and friend—secure a beautiful multifamily property in the city. As many of you know, inventory for desirable multifamily properties is historically low, and this spring has been no exception. In this case, there were 17 competing offers, and with our custom-tailored strategy, we were able to secure the deal and deliver a trophy asset to someone who trusted us from start to finish. Here’s how we did it—and how you can stay competitive this spring:
1. Understanding the Competition
In a low-inventory market, success starts with intel. We tracked: Open house traffic Offer deadlines Listing agent updates on activity By gauging interest levels early on, we could accurately predict how competitive the situation would be, and adjust our offer strategy accordingly.
2. Pre-Inspection Strategy
Knowing we were entering a multiple-offer scenario, we scheduled a pre-inspection before submitting the offer. This allowed our client to: Understand the property’s condition in advance Waive the inspection contingency confidently Submit a clean, strong offer that stood out This move showed the sellers we were serious—and ready.
3. Escalation Clause
We knew the list price was below market value, and offers would come in well above asking. So, we used an escalation clause to stay competitive without overpaying. An escalation clause automatically increases your offer if a competing bid comes in higher—up to a set max. It protects you from overpaying while keeping your offer in the race. Thanks to this strategy, we landed in the top 5 offers and were invited to submit a best and final. That’s when we sealed the deal.
4. Strong Broker-to-Broker Relationships
Real estate is a relationship business. We made sure to stay: Responsive Transparent Easy to work with By showing the listing agent we were reliable and professional, we positioned our offer as one that would close smoothly—a major plus in a competitive situation.
In a market where every advantage counts, the right strategy—and the right team—can make all the difference. If you’re thinking about purchasing an income-generating property or want to get ahead of the spring rush, let’s connect.
