This is a re-blog, so please visit Debe's post with your comments.
Here is another great post from Debe! What you find online is not always accurate ....
I’ve Already Done The Research Online; Now, Can You Write An Offer for Me?
I often get the question, “What information can you provide other than what I’ve already learned online?” Several recent buyers have requested that Offers be made for them as they have already ‘done the research’ and I don’t need to do anything but, write the Offer. On each occasion, the buyer wants to present incredibly low-ball Offers.
The numbers that they are obtaining from aggregate sites (national sites that have feeds from SOME of our data), are quite different than the actual data that is recorded in our own local areas.
These numbers can be askew as much as 35% and has been as little as 22% off--MOST of the time, on the low side. That is a staggering differential when it comes to an investment as large as a real estate purchase.
Mind you, I’m not representing the sellers of the homes that these buyers want to purchase but, here’s what happens when you don’t have accurate information.
With our market picking up and inventory decreasing, we’re seeing multiple Offer situations on many properties in many of our local communities. When a buyer presents an Offer that is 22-35% lower than the market value, the sellers do not take those buyers seriously. In fact, many sellers will not even respond to these Offers.
Suppose you find yourself in a multiple-Offer situation and you’ve presented one of these low Offers. If you were the seller, would you give any credibility to that Offer? Many buyers are bringing low Offers to Charlotte home sellers and those sellers absolutely refuse to respond, even when the buyer comes back with a reasonable Offer.
The data that you spend your time collecting is NOT always accurate. Let your real estate agent do his/her job by doing the research for you. This is what we do on a daily basis--we know the market inside and out; we know our market data and we’re here to provide accurate, detailed information for you.
We’re back to ‘who wins the bid’ on many Charlotte homes so, let us guide you through the Offer process. There’s far more research and knowledge involved in what we do than simply ‘submitting an Offer’ for you!