And the Oscar goes to…

This article is reprinted from Wine Country Real Estate, a special advertising section of The Press Democrat.

More than 36 million people watched this year's Academy Awards just to hear the conclusion of the phrase quoted above. While Hollywood's elite peacocked their way through the festivities, critics analyzed, dissected, and speculated their way through each movie hoping to predict the winners. All the nominees could do was wait, anxiously holding their breath until the golden envelope was opened.

All of which reminds me of my current buyers who are waiting, on seats' edge, for the proverbial envelope to be opened revealing whether they, too, are winners. Instead of an 8 lb. gold-clad statue, their Oscar consists of a 3-bedroom, 3-bath home on the edge of Sebastopol. Like the Academy Awards, there's been a lot of preparation and careful pageantry to get them to this point…whether it's enough to out-distance the other buyers will soon be revealed.

Real estate and the Oscars share a world filled with heroic stories, unexpected plot twists, and hopeful dreamers. First and foremost there are the stars—the sellers and buyers—all vying for attention and hoping their performance wins them a successful closing. Next there are the directors and managers—the real estate agents and brokers—hoping the direction and guidance they give to their stars is enough to propel them to the top. And finally, of course, there is the vast supporting cast of loan officers, inspectors, title officers, and escrow officers, who, like the make-up artists, costume designers, Foley and special effects artists of film, all combine effort to create a memorable and captivating performance.

Oscar-Worthy

Before becoming a real estate agent in 1993, I spent over a decade in the creative departments of several major ad agencies. If there's one thing I learned during that tenure, it's simply this: You have to get noticed to get sold. Getting noticed is the first step toward stardom, and for those daring to buy or sell real estate in 2015, getting noticed is the first step toward achieving your goal.

First off, realize there are only two ways to get noticed: in a good way or a bad way. It doesn't matter if you're the buyer or the seller, you (and your agent) are going to make an impression on the other side, and it better be a good one! It also doesn't matter if you have no competition or tons, you still are going to make an impression and it will translate into dollars in your pocket.

It has been a 'seller's market' for the past two years (meaning there are more buyers interested in buying than there are homes for sale) and many sellers think this means buyers will just naturally flock to their new listing. Not so fast! While they get noticed it may be for all the wrong reasons…the price is too high for the area, the house is dirty or cluttered, there are too many restrictions on showings, or the pictures showcasing the house are dark, unclear, or missing. I recently previewed a home that looked great online but when I stepped inside the odor of pot was so overwhelming I left feeling hungry. That house got noticed all right, but for all the wrong reasons!

A Real Stand Out

Making a good first impression is important for any home coming to market, but it's also important for buyers. Buying a house is like auditioning for a part in a movie… you need to be well prepared, act the part, and relate to your audience. In today's market, where numerous buyers are vying to purchase the same property, getting yourself noticed (in a good way) will help you achieve success.

So, when buying a property, how can you make yourself stand out from the competition?

Be prepared. Sounds simple enough, but you'd be amazed at how often offers come in that are incomplete. Items in the contract aren't checked properly, financing information is missing, or the offer is emailed over blind without a phone call or cover note. If you want to improve your odds of success, be sure you're working with an agent who is experienced, attentive to detail, and willing to invest the time and energy needed to help you make the best first impression. Being prepared includes having all of your financing worked out and clearly documented for the seller. Sellers want to know that you can actually deliver what you've promised (think of the movie Jerry Maguire, 'Show me the money!'). You'll need to include 'proof of funds' documentation and a loan approval letter from a local lender.

Be creative. Many agents and their clients use very standard terms when writing offers, such as a 30-day escrow with 17 days for inspections. While this is common, it's not very accommodating or very interesting. You can help set your offer apart by tailoring your offer to the seller's needs. Maybe the seller would like a longer escrow so they have time to find a replacement property, or maybe they'd like to close quickly but stay for a few weeks after escrow closes. Your agent can find out for you what would benefit the seller the most. You can also make your offer more noticeable by using unusual time frames such as a 23-day close of escrow instead of 30 days, or 12 days for inspections instead of 17. These are fairly easy ways to get noticed and set yourself apart from other buyers.

Be sincere. Sellers and listing agents want to know that you're serious about buying their house. With so many desperate buyers it's not unusual to discover that a buyer has submitted offers on two or three houses at the same time! Obviously they don't want to buy all of them, they're just so desperate to buy something they make offers on anything. It's not fair to anyone, including the buyer! A scarcity mind-set doesn't further your performance and it can give you a bad reputation among agents, further hampering your efforts to get an offer accepted. Focus on what you appreciate about the property and why that home will work for you. A positive outlook will get you noticed in a good way.

The envelope, please…