Special offer

“Is there any room on the price?”

By
Real Estate Broker/Owner with Pareto Realty TN #251071

 

What’s the use of asking:

“Is there any room on the price?”

The answer of any exclusive agent who honors fiduciary duty to the client will answer: “NO!” every time . . . because the asking price is the price.

If you want to know if there’s room on the price, go to the “trouble” to compose an offer, put a serious amount of earnest money with it, and sign your “John Hancock” . . . You’ll know within hours if there’s “room on the price.”

What this question communicates to me as a Listing agent is that there’s a “bottom fishing” buyer swarming around looking for a deal . . . and the agent “doesn’t want to waste time” writing an offer that the Seller will just reject.

All I can say is that I will present any and every offer that shows up . . . and I can promise that regardless of the offer relative to the price, I will be sure that the seller will respond . . . and will most definitely negotiate price and terms when a real, live offer shows up.

Be that real. live offer . . . and I’d gladly work with you through any negotiation that ensues.

There ya have it

:-)

Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

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Wika Hutchinson
Eugene, OR
Broker, CRIS, SFR, CDPE
Barry, I think sometime people want to get an idea from the listing agent. When people ask me that kind of question, I would tell them to bring me a written offer and then we can go from there.
Mar 23, 2013 01:50 PM
Eric Crane -- Your Full Service, Discount Fee Realtor®
DPR Realty LLC - Gilbert, AZ
Greater Metro Phoenix Arizona

Hi, Barry -- your points are well taken.  However, sometimes a question is asked to see how the other party will respond.  I know I have asked questions in the past that some will not answer, but others have given me a wealth of information (whether they should have or not).  one never knows what one will learn by asking a question.  All the best and have a wonderful weekend -- Eric

Mar 23, 2013 02:03 PM
Joel Weihe
Realty World Alliance - Wichita, KS
Helping you to use your VA home loan benefits

I hate that question, especially when I'm the buyer agent. "I don't know, why don't you put in a serious offer and see". And I know there's not supposed to be any such thing as  a stupid question but....

Mar 23, 2013 02:25 PM
Larry Riggs
Century 21 Redwood - Frederick, MD
GRI, SRS Your Frederick County Specialist

Interesting but common discussion. When I'm teaching I share the perspective I got from an attorney who works for our state association. As a buyer agent I'm required to ask. As a listing agent I'm required to represent the property at the listed price unless I have permission, in writing, from the seller to say something else.

Jul 30, 2013 09:04 PM