A TOM (Time Off Market) Fee helped The Buyer Get The House He Really Wanted
Multiple offers on the same house can feel like a game you already lost. You find a place you love, and so does everyone else. Here is how one buyer I worked with beat out the competition and landed the little house he had his heart set on.
He Was Up Against Multiple Offers
My buyer really wanted this house, and he was not the only one. Several offers were on the table, and price alone was not going to set him apart. So Kim Leach, one of the associate brokers here at Swan Realty, suggested he make his strongest offer and add a TOM fee.
What a TOM Fee Actually Does
TOM stands for Time Off Market. It is a non-refundable fee paid straight to the seller, not into escrow at the title company. That is the whole point. The seller sees real, upfront commitment instead of just another number on paper. It works differently than earnest money, which goes to the title company and is usually refundable. When you are buying in a competitive spot, that kind of signal can tip a seller your way.
Why It Worked
The seller accepted, and he got the house. That extra commitment gave him the edge over buyers who looked fine on price but brought nothing else to the table.
The right tools, and knowing when to use them, are invaluable whether you are buying or selling. A good agent knows which one fits the moment.
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Have questions or want to learn more? Give us a call at 575-613-4243. We're happy to help.
Rob Swan | Qualifying Broker | Swan Realty Inc.
