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How Much Is Enough?

By
Real Estate Broker/Owner with The Jordon Wheeler Group GA License# 264359

I'm working with a buyer presently, and we have looked at homes for the last 60 days or so.  Unfortunately we still have not inked a contract.  We got really close this week.  She found a home that she liked in a neighborhood that she liked.  She called me all excited on Sunday insisting that I find out if the home is available now.  I told her I would follow up asap on Monday with the Listing Agent.  The Listing Agent thought the home had to go through an auction site, but I told her the auction site did not show the listing any longer.  Not sure how the change happened so quickly.  The Listing Agent said 'send me a contract and I will see what I can do.'

I put the contract together after reviewing comps with a suggested asking price and sent it to my buyer.  The buyer responded back that she was upset because I had put in a suggested asking price.  Now mind you we had dicsussed the pricing in the neighborhood in general and the rcent comps.  I apologized to the buyer and advised her that we can offer whatever she wants to offer - just let me know so that I can prepare the paperwork.  Well, unknown to me the buyer had taken a friend to see the home and the friend commented 'there is no place for guest to park if you have a party.'  My buyer came back to me on Wednesday with this as a concern.  I was shocked.  She even admitted to me that she would rarely throw a party, but that was something she had to consider.

So today we had a meeting of minds because I just was not sure what to do after 60 days of showings.  She said to me that we have not seen enough homes.  I said to her 'we have seen over 40 homes.'  I'm still waiting for the pause to be over.

How much is enough?  At what point do you say 'Mr./Ms. Buyer enough is enough.'

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Jamie Maxwell
702 Ventures Inc - Las Vegas, NV
#LasVegasRealEstate

Wow 40 home viewings. You have to ask yourself..."is the commision worth it"? If so keep going! Good Luck.

Dec 31, 2010 11:23 AM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Jodron,

Wow, 40 homes is a lot. Maybe it wold benefit you to sit and write the criteria down, and to range from most important to least important

Dec 31, 2010 11:31 AM
Ken's Home Team LLC. | 360.609.0226 | Portland, OR & Vancouver, WA Real Estate Team
Ken's Home Team LLC. - Vancouver, WA
- SOLD IS OUR FAVORITE 4 LETTER WORD -

Jordon,  Wow we all run into this, my only suggesting is to not send an offer to the client unless they are an investor.  Put the offer together with her, and do it atthe time she want to put it in.  I would never wait till MOnday to submit an offer, if i was out of town I would have a team membert do it.   You are showing her a lot of homes, find out what she wants and pick out the best homes that meet the search and (explain that to her they are the best), then meet her and show her the homes and write it up right then and there at the house if need be.

I wish you luck.....

Dec 31, 2010 11:32 AM
Maya Swamy
Funds Available - Long Beach, CA
Ph.D. Long Beach, CA - fundsavailable.com

It is the time lapse that allows buyers to reconsider. With Zipforms and Docu-Sign and your laptop, you can go to the nearest coffee shop fill our the offer, email it to her for signature. She can then log on to her email on your computer and sign it immediately with Docu-sign. When all the paperwork is signed they tend to consider it more of a done deal.

Dec 31, 2010 12:26 PM
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Team Maxwell - yeah, I do have to consider the costs.  Thanks for commenting and best of success to you in 2011.

Jon - I have sat down with the buyer on two occasions and wrote down the requirements.  I have decided to give it 30 more days and if no contract is written, then call it quits.  Thanks for commenting and best of success to you in 2011.

Realty Check - good idea.  I will try to incorporate it into the process.  Thanks and best of success to you!

Jan 01, 2011 07:37 AM
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Ken - thanks for the advice.  The buyer's criteria has been a moving target where we find a house that meets the current preferences but then she throws in something new like more backyard space for a garden.  Best of success to you in 2011!

Jan 01, 2011 07:40 AM