Real Estate Blog - Reverse Offers in Real Estate - A Paradigm Shift for the Northwest Indiana Market !

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Reverse Offers in Real Estate - A Paradigm Shift for the Northwest Indiana Market !

I've always felt while sorting through the many BLOGS here on AR, that this is a Big THINK TANK, a plethora of diverse information.

Like abstract art, some posts make you Stop and Think, others may even influence you further than thought,- they may impact your future actions.

Inspired by one such post: REVERSE OFFERS-Who Uses Them? by Jeff Payne, (a former Hoosier.. thanks Jeff :). His Description of the Process, along with the many positive comments from various REALTORS, encouraged us to consider this OPTION for our own Clients.

This concept, although widespread in other parts of the nation, is not readily practiced in Northwest Indiana.

After thoughtful consideration and some research, we decided that although this was a paradigm shift of how "Normal" transactions look.... Market Conditions of late, call for creative artful strategies :)

This weekend, after favorable second showing feedback reports from several buyers agents - we wrote 2 reverse offers!!

We met with the individual sellers (2 separate properties) and explained the process and they were very open to this idea, and luckily, so were the Buyer Agents involved ! One REALTOR even thanked us after going over the contact terms offered !

Alas, they are being presented this week, and nothing is for sure, YET.

But, instead of waiting for something to happen or wondering what happened, we can do one more thing.... To try and stimulate the Real Estate Market to Make Something Happen :) by presenting the Buyer with a Reverse offer from our Sellers!

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Jeff & Grace Safrin REALTORS - "Spouses Selling Houses' TM

F.C. Tucker Advantage Realty

Serving Lake County, Porter County, La Porte County, Starke County, Jasper County and Newton County in NW Indiana.

NW INDIANA remains a Great REAL ESTATE MARKET check our past---> SOLD HOMES !

Thanks for Visiting our Blog! To read more about local NW Indiana events, sports, and more, click our blog link below. For more homes for sale view our Other Listings @ www.safrin.net and client testimonials!

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This is just one in a series of Posts For Localism By Jeff & Grace Safrin, F.C. Tucker Advantage Realty, Serving Northwest Indiana...on HOMES SOLD IN A MARKET THAT's NOT SUPPOSED TO BE GOOD....

Other Posts in this series are:

http://activerain.com/blogsview/441172/Who-is-NEXT-Referrals

http://activerain.com/blogsview/439592/1st-BORN-2nd-Wife

http://activerain.com/blogsview/421935/Tri-Omino-Effect-on

http://activerain.com/blogsview/421330/IN-A-MARKET-THAT

http://activerain.com/blogsview/452527/A-Step-on-the

Disclaimer: The opinions expressed by The ActiveRain Network and it's members and those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided by The Active Rain Community.

Thanks for stopping by and reading our Blog about Life in NW Indiana, The Housing Market, Communities, Local Sports, Events, attractions & more @ NorthWestIndianaRealEstateBlog.com

Sincerely,

Jeff & Grace Safrin, Broker / Owners

F.C.Tucker 1st Team Real Estate - Independently Owned & Operated

13 Lincolnway Suite # 203, Valparaiso, IN 46383 Office # 219-309-9930

Posted by Jeff & Grace Safrin, Broker / Owners, Northwest Indiana on 04/07/2008 03:00 PM

Comments (14)

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Originally posted at: NorthWest Indiana Real Estate Blog: Reverse Offers in Real Estate - A Paradigm Shift for the Northwest Indiana Market !

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14 Comments on Reverse Offers in Real Estate - A Paradigm Shift for the Northwest Indiana Market !

APR

2008

Hi Jeff and Grace, excellent post about reverse offers. I have recently started that myself the last few months. Nothing has come from it yet, but I believe it is a wonderful strategy and will keep using it. Thanks for sharing your thoughts on it.

Hi Jeff & Grace, I wrote a post on this same subject. The reason I feel it works so well is that someone actually moved forward in a positive step. With all of the inventory out there now buyers have so many to choose from. Good post.

Jeff & Grace, I love the artwork and the music. I have never heard of a reverse offer and hope I understand it correctly...if I do I think it's a wonderful idea.

APR

2008

Jeff & Grace, nice ThemThem to Jeff Payne, thanks for sharing.

Maybe, I am not getting it, isn't the ReaL Estate for sale the original offer? WEll, it does make some sense if you haave somone come in a couple of times to look at the property to offer them a reduced price to entice them, but I would think that would make the buyer counter-offer at a lower price

Hello Denise- Please send us an email if you post a Blog about your experiences with this as we are also interested in keeping this strategy in our repertoire before evaluating the results of it's effectiveness.

Thanks for taking your time to stop by and share by commenting.

Sincerely,

Grace

Hello Keith & Robin- we are going over to your Blog asap to find this post and read up on it- we were hoping someone like yourself with more experiences in these matters would share and thanks for pointing out your post to us and for taking time to comment. We appreciate it.

Sincerely,

Grace

Hello Carole- We never heard of it till a few months ago by another Blogger here on AR and YES it is a wonderful idea - thanks for taking time to stop by and for your compliments :)

Sincerely,

Grace

Hello Duane - Thanks for stoppng by and commenting - oops...you just reminded me LOL - I should email Jeff Payne that I mentioned him in this post - I'm sure he has been very busy out listing and selling - especially since he is using this strategy !!!

Sincerely,

Grace

It's worth a try and if there is positive feedback after several showing's by the same buyer, but no offer yet it is a forward step of progress rather than doing nothing.... time will tell Dave - but it is different that the usual & customary way of practice for sure- thanks for taking time to stop by and for your comments.

Sincerely,

Grace

Hi Jeff and Grace, thanks for stopping in on our post. We have used this tool with success in our area and have come up with a formula we use. All our listings are on a lock box that we can track on-line. Multiple showings bring a call to the agent to find out if their client is Pre-Approved. If so we contact the seller and write it up full price and include all seller concessions and send it over. So far we have a 98% SP to LP. We have only done this with move-in ready homes that are priced right. It does not always work out but by being proactive in the process you increase the sellers needs. Hope it works for you, it does make life long clients. :) Happy Selling

APR

2008

Thanks for adding this very informative tip to our Blog posts comments- it has given us more insight and I', sure it will help others that stop by here as well. We will try your formula here in IN :)

Thanks again Keith & Robin - appreciate it!

Sincerely,

Grace

NOV

2008

Great way to think outside the box in this trying time...i need to look into this more because my area doesn't have any idea about this and i would love to be the first...

Hello Tim - just do a search on Google or right here on AR for REVERSE Offers and you will be amazed at the plethora of information available on the topic!

My last CRS instructor said it is a concept that was around years ago in slow markets, but vanished in the 90's during the real estate boom - time now to dust it off and bring it back :) we encourage you to be the first in your area- find some open minded lsellers and co-operative agents and try with buyers who see properties twice and like them, yet no offer?

even with 50/50 odds - it's better than doing nothing and waiting :)

Have a great thanksgiving

Sincerely,

Grace

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