Appreciation post: My realtor in Austin pointed out a huge mistake people make with earnest money

I kept seeing buyers in my area write a check for 1% of the offer price as earnest money, thinking it was standard. My agent explained that in a hot market like ours, 1% can look weak compared to offers with 2% or even 3% down. She had us put down 2.5% on our offer, and the seller's agent specifically mentioned it showed serious intent. Has anyone else had their realtor suggest going above the 'standard' amount to strengthen an offer?

2 comments

2 Comments

the_kelly16d ago

Absolutely do this. Our realtor had us add an extra thousand over asking and it made our offer stand out in a bidding war.

mason36115d agoMost Upvoted

Wait, an extra thousand over asking is what made the offer stand out? That's wild, where do you live that the market is that calm lol. In my area you're adding like fifty grand just to get your foot in the door. A single thousand bucks wouldn't even cover the cost of a new doorbell.