this is how it is for home buyers in Denver. there are many offers, many buyers looking and lots of activity making it hard to get a home. If a buyer sees a home they like they must bring a great offer if they want the home to be theirs. 

Via Rockie Marvel: REALTOR® (214) 801-0908, Rockie Marvel (Private Label Realty (www.RockieMarvel.com)):

I helped a buyer client recently with the purchase of a home.  As soon as we went under contract, the listing agent informed me that there were 2 other offers that came in and was sure to tell me that one was higher than ours and a cash deal. 

We conducted our inspection during the option period and a few items came up that my client asked to have repaired.  Needless to say, the listing agent/owner were not willing to negotiate on the repairs and proceeded to tell me if my buyers didn’t like it, that we could cancel the contract and move on.  They wanted us to cancel so they could accept the other offer.  We were finally able to get a “small” concession toward the repairs and we move forward with the contract. 

The way in which the negotiation was handled left a bad taste in my mouth.  I’m hopeful this is not what we can expect going forward with the low inventory and multiple offer situations we face.    

If there is a contract on a home, the parties should respect the other and negotiate it to the best of our abilities for the higher good of our clients…no need to be nasty.  It’s not about us…it’s about our clients.  Let’s be professional and work together towards a mutually beneficial transaction.

 

Rockie Marvel, ABR, e-PRO
Richardson Resident & Neighborhood Consultant                                                   
(214) 801-0908

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3 Comments on Is the low inventory of homes causing havoc for our buyers?

FEB
06
111,176 Points 6 Featured Posts Outside Blog

Great Post and so true, I didnt see a shortage of inventory coming. 

Randy
7:26am • #1
354,614 Points 3 Featured Posts Outside Blog Called Shot Master

Brian

A week ago there were 3 new listings in my company that were right in the sweet spot for hot prices here, $379,000 to $429,000. There were 20, 21 & 24 offers on the 3 properties. So the buyer in Rockie's story should be ecstatic. Some of the buyers here are giving up after having this happen to them numerous times, some more than 10 tries. cheers cvc
7:33am • #2
MAR
09
637,698 Points 53 Featured Posts Outside Blog Called Shot Master

Hi there.  Hope you can join us at the Colorado ActiveRain Spring Meetup on April 10th.

http://activerain.com/blogsview/3653713/colorado-activerain-spring-meetup-get-ready-

 
9:21am • #3

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