Avoiding Seller's Regret for NOT taking an offer

Listing Agents......There are some pre-offer things you can do to prepare the sellers for an offer off of the list price...(and I have to admit, I am a lot of times too busy doing other stuff to do this) But...Put your seller on the drip campaigns for similar properties...When they see the numbers come in on their computer, they are as overwhelmed as most buyers.

Also, one other thing I used to do and need to get back doing is to present the offers IN MY OFFICE. I think people feel comfortable in the house and in control of the whole thing there. This is a business decision, and should be recognized as such.

With each offer, present all the evidence the buyer has used to make his offer....meaning, the whole pre listing CMA all over again. Lots may change in a few months.

When the famous and horrible phrase "I won't give it away" comes into the room, ask them what price "giving it away" is? If they were buying today and right now with all that out there, would they buy their house for that amount....that is what they are doing....each rejected offer or lack of a counter offer is the re=purchasing of the property. They are "buying their own house back"..

Figure out the expenses (especially if they are in a condo and/or holding two properties). When you do this make sure you let them know there is money spent owning this property which is not equity building....For instance, the interest paid to the bank....which in most cases is most of the payment. Also, the fees for the condo assoc. And the taxes and the insurance...all non-equity building expenses. One other loss that most people do not add into this is the interest potentially earned on the money they would get from the house. (If they say they are paying off credit cards this is even better!). When people start looking at the sale as a business transaction, they are more likely to negotiate and get the business done.

And lastly, when they say that it seems that you are working for the buyer comes into the conversation....truthfully tell them that you do not want them to regret the loss of this buyer and to have to wait another six or eight months to get another offer...especially when it looks like prices are heading downward. You want them to be fully aware that this may be the only offer they will get for YEARS.....And that has nothing to do with the quality of their particular house. I have been known to ask if they want a big glass of water, cause this really is a hard "pill to swallow". You owe the seller the truth, and you need to let them know that some shark has eaten all the fish and you do not want to risk letting this one off of the hook.