Do You Really Want To Have This Discussion?
Lately, it seems that we are forced to engage in verbal negotiations when offers are submitted on our listings.
Offers come in under the list price. As the listing agent, we meet with our sellers and prepare a counter-proposal and send it back over to the buyer’s agent. Low and behold, we get a call from the buyer’s agent stating that they can’t go quite that high but would the seller’s be willing to accept $xxx. They usually end the conversation with – Let’s do this verbally until we come to an arrangement.
That is my cue to go back with more than what the seller will settle for to try and get more for the seller since they didn’t take the time to write another contract.
Almost everytime, we end up agreeing on a higher price than what the seller says is their rock bottom price.
You see, if the buyer submitted another written offer, it is likely that the sellers would just sign it to get on down the road. However, when the buyer’s agent opens up the forum for a game of volleyball, we feel that there is more than one opportunity to massage the price.
Because the buyer’s agent doesn’t take the time to write up another offer, our sellers usually come out way ahead.
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