Your home is only going to sell for fair market value, Mr. Seller, and buyers determine what the market will bear.  It’s what a buyer will pay, and if you don’t agree with that opinion, you’ll sit and wait.  What you’ll wait for is the market to catch up with your opinion.  Prices are still declining, even though the numbers of sales have increased. 

Negotiating is a game we all have to learn, and it is a game.  We can play cat and mouse, but that usually results in nastiness; we can be told the bottom line from the seller and try to get more than that number; or we can go to the bottom line in the first round; and the game will be over with "take it or leave it." 

My method as a listing agent was to get the bottom line number from the seller, and I would negotiate until it was over.  Many times I exceeded that number and the seller was thrilled; if I hit the number, the seller got what he/she asked for; and if I didn’t, the seller had to decide whether to take it or wait for the next buyer.

I think there are many buyer agents who have convinced their buyers that an unrealistically low number could result, and once the negotiating starts, it ends quickly.  Many buyer agents are desperate for a deal and want their buyer to step up to the plate, so they paint a scenario that’s not probable.  Builders become infuriated because it’s a personal thing with them; homeowners also get upset; and it’s best we don’t describe what listing agents go through to maintain a sense of calm with everyone. 

A good buyer agent has control and has the buyer’s confidence to take the direction suggested by that agent.  Buyer agents can make or break a deal depending on how much faith the buyer has in them.  As a listing agent, we can always tell who has it and who doesn’t!!

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36 Comments on Some Have It And Some Don't...It's Easy Enough To Detect!!

20 Most Recent Comments Displayed Show All

MAY
24
1,516,082 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Jerry..... there has to be some direction accepted by the buyer from the agent.....

Reuben....there are many factors contributing to lowball offers.....but the buyer's agent has to have some influence in getting the buyer on track...
2:02pm • #19
940,760 Points 26 Featured Posts Outside Blog Attended Rain Camp

My clients trust that I will take them to the closing table. I negotiate and cooperate with the listing agent to close deals.
2:03pm • #20
1,516,082 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Larry.....I think you have it down to a science.....

Harry.....that's the goal....closing deals....
2:08pm • #21
370,361 Points 10 Featured Posts Outside Blog Called Shot Master

HI Barbara - I am having more and more buyers who 'know' more about the market than we do, and if I suggest X amount as the lowest amount we should bid - Many buyers from overseas  are looking for the best deals...and will then proceed to bid lower than that suggestion. I recently had one buyer who calculated how long he would spend in the finished basement, and how long it would take him to get into the city, thus depreciating the value of the house accordingly (for him)....  It was hard to reason with someone like that...I totally agree with you that a good agent will negotiate and negotiate tog et the deal done... but  it does require a buyer who will listen! LOL G
2:44pm • #22
1,516,082 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

I understand, Gay....just as I know that you and Carla are top shelf buyer agents.....there are many who are not and could have some control over their buyers.....
2:48pm • #23
758,507 Points 105 Featured Posts Outside Blog Called Shot Master

Barbara, I work with both buyers and sellers. I use the same CMA for both. All my listing price suggestions and buyer's offer suggestions are based on recent comparable sales. But as Carla mentioned, buyers sometimes think they know better than we do.

I have two listings that recently went under contract because the buyers presented low-ball offers. While they were countering back and forth with my sellers, another offer came it from different buyers who offered their highest and best. The first buyers lost out in both cases.

One of the buyer's agents came back to me to see if they could re-submit but by that time it was too late. Too bad...those buyers really wanted the house. They should have either listened to their agent or gotten better counsel.
3:23pm • #24
1,516,082 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Tammie..... yes, there are always exceptions....  and maybe they had a good agent but didn't listen or maybe the buyers' agent encouraged the lowball offer and that would have been poor direction.....
3:28pm • #25
547,229 Points 9 Featured Posts Outside Blog Called Shot Master

Barbara:

No matter what their agent says, some buyer will not relinquish their belief that they must offer a very low price and negotiate up.  As an agent, I would say goodbye to those buyers.  They are not realistic and not amount of lecturing will change their attitude.
3:50pm • #26
1,516,082 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Evelyn.... there are buyers with that mentality.... and that's a good resolve.... there are also buyer agents who encourage that low offer as a way of establishing more confidence in the agent by the buyer.....
3:52pm • #27
270,830 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

Barb you are so correct hit the nail right on the head. I would love to discuss with you in detail how you list your properties and set your price points as of today Me and my assistant hold 60 active listings we both work hard and really enjoy listing property now to get them sold sold sold. Have a blessed day

If you would not mind talking to me that would be awesome I love to read your blogs they are great
4:02pm • #28
1,516,082 Points 275 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Hi Laura..... let's talk next week..... have a safe weekend....
4:04pm • #29
324,199 Points 88 Featured Posts Called Shot Master

Barbara,

 

I generally find that losing out on a few offers, changes what a buyers agent client tends to think about offers. It isn't a fun lesson to learn, but one that many just have to, before they change their ways.
6:32pm • #30
1,113,901 Points 115 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Trusting your agent - it's what is boils down to.  Your statement says it all: Buyer agents can make or break a deal depending on how much faith the buyer has in them. 
6:44pm • #31
243,126 Points 22 Featured Posts Outside Blog Called Shot Master

I think you also have to consider who may be giving the buyers advice on how to negotiate.  Sometimes it is Zillow, or a friend that just bought a house, or the parents that are assisting them with the down payment.  The buyer may trust you as their agent, but they have many voices in their ear telling them what to do to "get the best deal" and they are not always the best advisors. 
6:51pm • #32
1,151,923 Points 86 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Barbara, when the buyers insist on a low ball offer and then see the house get sold to someone else, they get a lesson. If they are thick, they need a few harsh lessons before they finally realize their agent is trying to help them get a good deal, and cannot make a miracle happen
6:55pm • #33
417,113 Points 13 Featured Posts Called Shot Master

I agree Barbara, trust in your buyers agent is essential to making the best offer.  I have a lot of trust in my agent after working together for years, but for many it is the first transaction and the agent is being paid more if the offer is higher, the system doesn't promote trust due to the inherent conflict of interest built into the payment plan.
10:46pm • #34
MAY
25
1,064,817 Points 67 Featured Posts Outside Blog Called Shot Master

You are correct....a good agent for any buyer is not the one who beats up the Seller....starting a relationship on that note often ends it quickly....without a sale !
4:03am • #35
643,306 Points 111 Featured Posts Outside Blog Called Shot Master

Without the client's or customer's confidence, it is with certainty that it will be a rocky road from the start.
5:51am • #36
589,023 Points 99 Featured Posts Outside Blog Called Shot Master

HI BARBARA!  I do believe Charita read my mind - I also think that it sets a tough road ahead with the co-op agent!  Relationships start with your client and you build it more with those you work with on the other side.
10:33am • #37
627,100 Points 8 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

In our market, I know a lot of good agents and when one of them shows our listings, we welcome them with open arms.  A disgruntled agent always makes for a difficult closing.
7:36pm • #38

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Barbara Todaro "New Franklin MA Homes"

Franklin, MA

More about me…

RE/MAX Executive Realty

Address: 445 Franklin Village Drive, Franklin, Ma, 02038

Office Phone: (508) 520-9881

Cell Phone: (508) 918-9148

Email Me

The Kuney-Todaro Team is the "#1 team in Franklin's #1 office." Our expertise is in marketing new construction and resale properties. New construction is our niche and we have sold 40 subdivisions in the area of Franklin MA.


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