I am a Realtor I have had a listing for about 8 months now, orginally we priced the home close to it's apprasied vaule.. after months and months on the market with no offers the sellers lowered the price. Yesterday we got TWO offers one was very low and not even to be considered the other one was only $5000 away from the asking price.. I agreed to take 1% off my commision to make it a difference of only $2800.
The sellers have a daguhter that is willing to move into the house now so they are not that desperate to sell but I ask this.. if you had the opporutnity to sell for a difference of $2800 would you??
What else could I do as the agent to help them? I don't really want to see them go thru this again when the daughter moves out in a year or so..
Thanks!
2007-06-15 03:38:30 · 7 answers · asked by Rosie 4 in Business & Finance ➔ Renting & Real Estate
I am not trying to force them sell but I am trying to offer them my best advice. The home was apprasied around $330 the asking price was $275 and the offer was $270. My point is that an apprasial in only one person's opinion.. a home is going to sell for what some one else is willing to pay for it.. and after 8 months and no other offers it would seem it is worth $270 at this point..
2007-06-15 03:53:12 · update #1
UGH. After all these months, the daughter steps forward to rent the house? I wonder if they made some sort of agreement that she could "rent" the house, later buy it from them and this comes out when she is worried they will sell it.
My two cents, present your offers. Review them as you would with any client. When the resistance starts, I would remind them of the time frame to find a buyer this time, and that you would hate to see them miss this opportunity to sell. Don't make it personal by stating how much work we all know you did to find a buyer, make it about their money, their investment, their time.
Good luck and keep us posted on how this comes out.
2007-06-15 04:20:56 · answer #1 · answered by godged 7 · 0⤊ 0⤋
I'm not a seller, but a broker. Your time is valuable. First off, I would present the low offer as well to protect yourself, unless you were told not to present offers lower than some amount. I would sit down with the sellers and go over the high offer with them. Ask them why they would not consider this offer. If they state because of the daughter's situation, ask them if the offer were to come at full price, would they accept it or not. If they hesitate and/or say no, then I would suggest to them to take the listing off the market until they are ready to sell. If they say yes, then counter $2800 higher. Either way, find out what is preventing them from accepting the offer and find a solution to this.
Also, just from experience, you might have stumbled across an empty nest situation in which the wife (it's usually the wife) gets lonely and likes to talk to agents and uses the tease of we were thinking of selling our home and buying a smaller one. The truth is they just like the attention you give and provide. I even bet the daughter is not moving back in, but just the small chance of that happening makes the seller happy and relunctant to sell. I suggest you move on (while saying "hi" once in a while) and see if you can qualify the daughter to buy her own home. I'm a therapist for most of my clients!
Regards
2007-06-15 11:12:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would sell for the difference of 2800 if there were other factors involved. Greater deposit amounts being one. In regards to swinging your client to sell rather than sit on the property for their daughter...well, not so easy. You are dealing with emotion on the sellers part. I would advise the sellers to consider the process they just went through and having to repeat that. also, paint the picture of when they go back to list it after she moves out that buyers will be advised by their realtors that the house has come on and off the MLS and the sellers may be perceived as not serious or fickle. Good Luck. BTW, I wouldn't cut 1% off your commission unless these people were family!
2007-06-15 10:50:34 · answer #3 · answered by rocco c 2 · 0⤊ 0⤋
It sounds like this is a house in the $225K range, if I backtracked on commissions correctly. After eight months on the market and NO offers, I'd jump at this, were I the sellers.
If these sellers don't take this offer after all your work, I'd be quite annoyed, if I were you. If they end up rejecting, cover your backside legally to insure that they don't try to sell it to these offerors after your listing contract expires. I've seen it happen. Not everyone is honest when working with a realtor.
2007-06-15 10:47:48 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
I would just tell them that the difference of the $2800, verses what they would be paying for the year...utilities/mortgage...is not worth it...the way the housing market is, they might never get near their asking price again...Also maybe tell the buyer that if the seller accepts this offer, the buyer is then responsible for the inspections as well...
2007-06-15 10:43:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I wouldn't push them to sell or they will just wait until your 3 month contract is up and get a new agent,I have done this a couple of times as it rubbed me the wrong way when a stranger tries to dictate my financial decisions.
2007-06-15 10:43:59 · answer #6 · answered by JOHN D 6 · 1⤊ 0⤋
As a agent you should try the Agent's seller
(aka) www. theagentsseller .com
After all you have to help yourself before you can help others!
2007-06-15 13:18:15 · answer #7 · answered by Anonymous · 0⤊ 0⤋