How do you know when your offer isn’t going to go too far?
When the listing agent tells you, “I sent your offer to my sellers”.
Come on Jim, don’t you expect the sellers to read it? Yes, I do, but it would be nice if the agent also offered some advice. I always include my own opinion on why they should take the offer, because I know the other agent probably won’t.
As a result, this is the phone call the following day:
Agent: Did you receive the offer?
Agent: What did you think?
Sellers: We didn’t like it.
Agent: OK, thanks, have a nice day!
Of course, they didn’t like it because it was less than full price.
After all the showings during the first week on the market, the sellers were telling all their friends and family that they were going to have a bidding war, and sell for over list price.
But nothing materialized, and a few days or weeks later this snot-filled punk has the audacity to offer less than list price?
It reminds me of the Realtor Facts of Life.
It is best to be:
- The first-born child
- The second spouse
- The third realtor
Once sellers hear the same thing three times, they might start believing it.
It is easy to forget or ignore the truth about real estate. A property’s value is defined by what a ready, willing, and able buyer will pay for it.
Instead, we convince sellers that they determine the sales price.
I might have a solution though – stay tuned!