STOP! Please Stop 'Selling' My House!

Reblogger Patricia Kennedy
Real Estate Agent with RLAH Real Estate AB95346

Debe Maxwell has written a terrific post on continuing to show homes when they are under contract, and she makes some great points.

Original content by Debe Maxwell, CRS 228209

STOP!  Please Stop 'Selling' My House!

Please don't stop selling my house!How often have you heard those words come out of a Seller's mouth?!  I can honestly say that I've never heard a seller utter those words!

 

Many agents will 'call you off' for scheduled showings immediately following their sellers going under Contract with a buyer.  I always ask if the seller minds if we do show so we can bring a back-up Offer if my folks love the property.  Believe it or not, we're turned down about 90% of the time!

 

*Do I want to know that the property already has a negotiated Contract?  Yes, of course but, do your sellers a favor and KEEP SHOWING!

 

I recently had a dozen Offers on one of my listings and even had a bidding war on the BACK-UP Offer!  We have no provisions for a second back-up but, I did, very nicely, tell the remaining agents that we would love to be able to contact them if both deals fell through.  

 

Definitely seek that back-up Contract!I passed along Offers to these sellers, who continued to allow showings for weeks, well beyond their Pending date.  Why, you may ask?  Because, according to recent local stats, 35% of FIRST deals fall through!  Without a back-up Offer, the 'newness' of a just-listed property wanes when it has to go back on the market a second time. Rest assured, your chances of getting as outstanding an Offer as the first one, is fairly slim!

 

From a buyers' perspective, why NOT submit a back-up Offer?  It doesn't cost anything AND it saves a second bidding war and mad rush to compete as well.  

 

Sellers, why NOT seek that back-up Offer?  If it takes 3-4 weeks, so be it!  If your first buyer has lending issues, which include faulty appraisals, you have a second ready, willing and able buyer in line to move right into the buyer position.  

 

© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | STOP!  Please Stop 'Selling' My House!

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Rainmaker
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June Piper-Brandon
Remax New Beginnings - Baltimore, MD
Piecing Dreams One Home at a Time

In recent months I have  had several sales fall through so continuing to show isn't a bad ida. 

Nov 28, 2016 08:01 PM #1
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I missed this one but I have a few annoying agent who seem to always be a day late and a dollar short Debbie Reynolds

Nov 28, 2016 10:02 PM #2
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

June, I was surprised when Debe said they had a 35% kickout rate!

Nov 28, 2016 10:11 PM #3
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Paul,  most of our agents are pretty good, but once in a while you get one that's about as much fun as knee replacement!

Nov 28, 2016 10:16 PM #4
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

It's always been my policy to have at least one backup offer-preferably two.

Nov 28, 2016 11:24 PM #5
Rainmaker
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Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

From a sellers point of view, I totally agree that you need to do the best you can for your client and this is one way, to get a back-up offer if at all possible. In my world, the rate is much lower than 35% and it's hard to get a backup offer. Most buyers shy away from them. However, if inventory is so tight and multiple offers are the norm, the buyer has nothing to lose to become backup while still looking elsewhere.

Nov 29, 2016 08:02 AM #6
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Michelle, backups are good to have when you're the listing aget

Nov 29, 2016 09:17 PM #7
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hella, kickouts are pretty unusual here - they happen but rarely when there is a backup.  When the buyers know someone else wants the place, they want it even more and get territorial.

Nov 29, 2016 09:19 PM #8
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello patricia Kennedy,  I just had a deal fall last night but my seller wanted to stop showing even after I said always good to still show and get a backup.

 

Nov 30, 2016 11:40 AM #9
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Will, I'm guessing  when the next round of offers comes in, she 'll want a backup, and will take your advice!

Nov 30, 2016 09:04 PM #10
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thanks so much for the re-blog Patricia Kennedy!  Like you, I feel it's important to have a back-up as a seller.  As a buyer, why not get your foot in the door NOW!  ;-)

Nov 30, 2016 09:43 PM #11
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Debe, if the seller actually has a back up, it comes in handy to hold the original buyer's feet to the fire - if necessary!  I think if the buyers know someone else wants the place, they behave better. 

Dec 15, 2016 06:47 PM #12
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