Home : Blogs : Robert Monk Florida Real Estate : Robert's Blog

Overpriced? Make an offer!!

How can we as Realtors educate buyers and investors that it is okey to simply make an offer, any offer?

If buyers are interested in a property, and they think it is overpriced, they can just make an offer at the price they believe is correct..

Why is that not happening?

Are the asking prices so far out of reality that buyers and investors have become completely disconnected?

It is all about supply and demandm and today, there is just too much on the market.

Builders are suffering and competing with pre-existing houses.

A thing there is not too much of is LOCATION, LOCATION, LOCATION.

We've got low interest rates, the economy is in pretty good shape, so...

Maybe Location is the key to jump-starting this market again.

What are your thoughts?

Posted by Robert Monk Florida Real Estate on 10/01/2007 09:38 AM

Comments (7)

florida real estate, location, price, market, florida, preexisting homes, house, builders, offer, make an offer, asking price, interest rate

Post is included in group: Make an Offer

7 Comments on Overpriced? Make an offer!!

OCT

2007

Yes, we've been wondering the same thing here, 'why don't we even get an offer?' Too many people see the listing price say its out of their budget and don't even want to look at it. Gee, looking at it is free and everyone is eager to show their listings.

Right now buyers are few and far between and people are worried about the economy.

I encourage my buyers to make an offer if its something they really like, even if its not full asking price at least its a starting point for the negotiation.

My thoughts are unprintable.....but I agree with you in theory. There's little empirical justification for this situation. The rates are down, there's product everywhere, but it's like the first one to jump into the cold water. Who's going to do it?

Location, Location, Location, is never really the issue, it is always Price, Price, Price, and buyers do not like to make offers on homes which are more than 5% over priced, and that is just reality. You want offers you have to be within 5% of value or you will likely get no offers.

Sometimes there is just not a buyer for a specific home. I am beginning to think that for one of my listings which is on the fringe of a neighborhood, and price 60K lower than anything has sold in that neighborhood but still will not sell.

We try to explain that any offer opens the door to negotiations and is a starting point - basically 'let the games begin' - any offer is better than doing nothing!

OCT

2007

Robert - Too often buyers just go on to the next one if the house is overpriced, even though the comps show otherwise. I try to tell them to make an offer, if nothing else, hopefully to get a counter offer.

Simple answer is listing agents, don't overprice them to start with. If you aren't getting showing then get the owner to drop the price or as an agent you can drop the listing if they are unreasonable.

OCT

2007

I think it never hurts to haggle on a property as long as there arent many others interested. With the market a bit slow, I say why not make an offer. Yet most people assume that the asking price is firm and that they will at least need to come close to it in order to purchase the home. Also there are so many houses to see that most people will just stay inside their price bracket and ignore everything else. I offered 20 thou under cost for my current house And I never thought I would get it but loved the house enough to try and bring it into my price range. They came back with a counter offer of some 15 off and I took it. I was pleasantly surprised and had my Realtor to thank for her encouragement in the matter of making an offer.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?