Please don’t shoot the messenger
There are times when a lower offer is justified based on the current sales in the area. if a seller has been on the market for 5 months they should expect the market to change and ask, if their agent hasn't provided them one, a new CMA or a list of recently sold homes similar to theirs. In this post it sounds to me like the owners didn't;t listen to their agent and went ahead and priced the home high. The fact that the appraisal confirmed this just made more angry instead of helping them understand the market and being open to negotiating. this seller is probably better off waiting this marekt out because they're not going to make that $25K up overnight.
Please don’t shoot the messenger, that is all I have to say about our local market right now. A couple weeks ago I had some clients put in an offer on a nice home in Beaverton, but we just couldn’t put in a full price offer based on the CMA I pulled. (There was a difference of about $25,000, but my clients wanted this home)
You see this home has already been on the market for about 5 months and is in amazing condition. (That should tell you it is overpriced right there) But, they stuck with their guns and their price and called me and told me that I as a well, I won’t use that word.
I was kind enough to continue the conversation and calm them down and asked them if they had looked at the CMA I provided. They said “No” and I told them please do that and you will see that my clients weren’t trying to insult you, they just don’t want to overpay for a home. Also, I told them I would call their broker and make some suggestions on how we can make this work and it best they talk to their agent and not me directly.
So, I immediately called their agent, told him what had happened and told him despite the flat rejection with a few choice words to go along with the reject that my clients still LOVED the home. I then suggested that he advise his clients that they pay for an appraisal and if that appraisal came back higher than we offered that my clients would be willing to go with that appraisal.
I know shock of all shocks, the appraisal came in with in $500 of our offer. The unfortunate part for my clients is that instead of accepting our offer, they then withdrew the home from the market. I guess they now had their answer and they weren’t happy with it. You see, in the last year, the Portland, Oregon area housing market fell another 9% since last year. I promise we aren’t trying to steal your home, we just don’t want to over pay either… So, please don’t shoot the messenger!
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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