Even before the SF Chronicle “Hot Property” article appeared, we knew this was the one. After searching far and wide for a home on at least an acre, with a pool, guest accommodations, a walkable community, and magical-feeling outdoor spaces, my clients were well aware of how special and rare this property was. After hearing that a “pre-emptive” (early) offer was expected from another buyer, we decided to pre-empt the pre-emptive offer, and got our offer into the listing agent’s hands by 9 AM on the day following the Open House.
Usually, an “offer date” is set for after the second Sunday open house (about 2 weeks of marketing), to give all interested parties the chance to fully prepare for potential offers. This delayed offer date frequently results in a bidding war, as the expected offer count rises and interested parties raise their stakes. A “pre-emptive” sale, on the other hand, is generally the result of a single party presenting an early offer that is strong enough (they hope) that the Seller will feel compelled to accept it rather than waiting for the offer date and the expected bidding war.
In the case of this property, we found ourselves in a hybrid of the two scenarios — a pre-emptive bidding war! The Seller did feel compelled to consider our early offer, and in addition, they put out word that any and all offers should be submitted by 6 PM that same day. And by day’s end, we were competing with a total of 7 bidders.
Over many years representing Buyers in these competitive situations, I have learned that there is so much more than price on the line when a Seller is considering offers. Every Seller has a wish list of what they are looking for in a Buyer, and every Seller’s agent has a wish list of what they are looking for in a Buyer’s agent. It’s crucial to hit every single target if one wants to win a dream home in this crazy market!
I am so pleased to represent the winning offer for this amazing property, and to be part of the happiness shared by the families of the Buyers as well as the Sellers.
My clients say: “We got our dream home — and sold our lovely first home for a record breaking amount for our neighborhood. You can tell Holly loves her job, which makes her a joy to work with.”