so, this is in part an update on my article "here's another example" from yesterday.

In the article I was explaining that the seller of a property that we were writing an offer on, was offering a $1,500 bonus to the buyer's agent (me)... and what a waste of money that was, because here we were writing an offer on the property, and we didn't even realize a bonus was in play.

So, we asked the seller to take the bonus, and redirect it as a credit to the buyer... to be used toward closing costs... at closing.  They were surprised, but agreeable.

No sooner had we written the offer (in fact we hadn't even had time to fax it over) than we found ourselves in a multiple offer situation... (yes, yes.... in today's marketplace, when properties show well, and are priced well... we do still find multiples)... so I consulted with my buyers' and we raised our offer to our "highest and best".  We went for our maximum approval (just for example's sake, since I don't want to give away any private information... let's just call it $350,000... that was our maximum approval).

As we waited through the day, as you can imagine, I had several phone conversations with my clients.... they were anxious... she's pregnant, due any day in the next few weeks.... it's their first house... he's a veteran... they're excited... "What's going on?   How do you think we'll do?   When do you think we'll hear?  What should we do if we don't get it?"

and then a very interesting one "Well, if we don't get it... I have an additional $4,100.00 that I was going to put toward repairs, but this house doesn't seem to need any repairs... so we could always offer them an extra $4,1000."

I guess I hadn't done a very good job of explaining to my client that they were asking for our "highest and best" and we were likely to have only the one shot at it.  We probably weren't going to be allowed to come back after the fact and say... "oh, we lost.... well what if we add $4,100 to the pot??"

So, I suggested that if they were really enamored of this house, and would be devastated if they lost it...that we offer the $4,100 NOW, before a decision has been made.  They agreed, and I called the listing agent to add our $4,100.  So now our offer stands at $354,100.00.  I know... not much of a difference, but I've seen small increments make or break a deal before.

Well, finally a couple of hours later than we expected, we hear from the listing agent.  We got the house (my clients are ecstatic)... BUT (there's always a "but" isn't there?)... we have a couple of changes to the contract.

"okay, let's hear them".

1) We want to exclude the draperies in the Living Room and Dining Room.

I consult with my clients... that's fine.

2) We want to change the tax proration to 100%  (a savings to the seller of about $300-400).

"you know", I say "I'm not really comfortable changing that at this stage... "we gave our highest and best...."

"just a moment" she says "It'll make sense in a minute".

"Okay...."

"And" she continues "we know that you were turning the tax credit over to your clients to help them out.  We know that they said they love the house, and loved it enough to throw an extra $4,100 on the offer."

here it comes

"We'd like to accept their offer at $350,000 with zero bonus".... the other offer, by-the-way- was for $355,000.

dull silence on my end... (although I could swear I heard someone mouthing the word "WOW")

The Sellers have just effectively given up $2,600... or as much as $5,000 (from the other buyer)... why?  According to the seller's agent, because they liked my clients description (they never met them)... they liked the fact that we wrote a letter... stating how much we loved the house... that we were at our maximum... that we're pregnant, and due soon... that he's a veteran...

all of that resonated with the seller, and they want someone like that... someone who loves the house to get it.

dull silence.

In today's marketplace???   Really??  a Seller who doesn't only have their eyes on the money!?!

"WOW".