Back in March I wrote a post called: "I Can't Disclose That" Is Not Helping You Or Your Seller. This turned out to be a pretty controversial post when you review the comment section. For those of you who don't want to go back and read that post I'll summarize it for you.
It basically says: Buyers and agents working with buyers are quite possibly going to ask you how flexible the seller is going to be on the price if they decide to write an offer.
This is a passionate point in real estate today because many of us were taught. DO NOT DISCLOSE ANYTHING BUT THE LIST PRICE!!! When in fact we should've been taught. DISCLOSE WHAT YOUR CLIENT (THE SELLER) WANTS YOU TO DISCLOSE AND KEEP THE SELLER'S BEST INTEREST AT HEART AT ALL TIMES.
To even explore the option of taking the opportunity to talk with our sellers to get permission to disclose a different price other than list price is almost painful for some agents to consider. Take for example the beginning of this comment:
"My job as a listing agent is to get the most for my sellers and by telling a buyer..."
I guess it could be possible that every seller this guy has worked with was only interested in the highest sales price but it could be unlikely as well. Now keep in mind this is not a slam on that guy who said this it is just that there is a portion of many markets where seller's would prefer to close faster than saving a few bucks. Why? Because sometimes waiting for the higher offer means giving it up in carrying costs to hold. Now when we're talking primary residences...at least the seller's are getting something out of it. But what about all those other properties that were meant for second homes or investments? What about properties in depreciating markets? Do you think it's smart to punt a lower offer and wait for the next one? Sometimes....maybe.
In my market it is sometimes all about the fact that the owner simply don't want to own it anymore and it might be worth it to them to cut it loose now at a lower price.
I'M NOT LOOKING FOR JUST THE BOTTOM DOLLAR! I'm just looking for help to sell your listing!
These fact finding conversations are not just tied to bottom dollar either. Sometimes it's about other terms like posession and furniture. Will your seller flip out if we don't want the furniture although you're advertising it as fully furnished? Will they freak out if we want possession in 3 days? Hey, I've had to ask. When you get the Naples fever, sometimes you gotta have that Naples property right now!!! :)
Here are a few things I've heard and experienced lately that have been very interesting that reflect signs of really smart agents and have ultimately sealed a deal with my buyer.
1. Without asking the listing agent he turned to me during a preview and said something that sounded like, "Shannon, your offer needs to have a 2 and 4 in it. If it doesn't start with at least that, don't bother". (I changed the numbers to protect the exact scenario) What I loved about this is that what he was basically telling me is the seller was not going to be very flexible AT ALL. It just so happened that was the exact information we needed to get the deal done. So we did.
2. When I asked the listing agent about the seller's flexibility the listing agent replied, "we had an offer last year of this price which was turned down. I don't know if they will accept it now since it's been a year since they've seen another offer but I know they want to sell. That with a little more information about the seller's background was enough to get the deal done and since there were two properties these buyers were seriously considering, it was the exact information that listing agent relayed to us that made the buyers write on that property. The ONLY reason why that property is pending today is due to the intelligence of the listing agent.
Here's an example of something I heard that I greatly admire.
3. When I called to make a showing appointment today the listing agent said, "Shannon did you see the confidential remarks where it says that the price is firm"? I replied, yes...he said, "good. I just wanted to make sure you saw and understand that" Kinda cuts out the mystery don't you think?
Here's an example of an agent who has not done herself or her client any favors.
4. I was asked by my client to call the listing agent to see if the seller would entertain a low offer. At their request I called and said, my client who was in town a few months ago who did not think the house was a perfect fit for them wants to know if the seller would entertain "xyz price". Her response. No.
The house has been on the market for almost 400 days.
Now just to be crystal clear. I left nothing out of her response. It was just, "no".............................................................................the end.
Had she been a smart girl, she would've already had a chat with her seller. She would've said something like this:
"Shannon, I doubt seriously that number is going to work, but I think this number has a better shot. Are your people paying cash? Well, as a matter of fact they are. Ok, when do they want to close? They can close in three days or 3 months it's really up to your seller. Ok, let me call the seller and see what he wants to do, I'll call you back. By the way, do you think that's your buyer's biggest number?
or perhaps.
"I seriously doubt it, they paid xyz for it two years ago and put zyx into it on improvements. They really want qwx and he's turned offers down for *^%. Is that the best number your people can come up with"?
At least there's communication here. Smart girls know that we might not get this deal done but we may get the chance to work together again and I want you to help me sell my listings instead of continue searching for another agent's listing who offers more dialog.
Ok, so that's all for now! New buyers in town tomorrow! Whoopie!
:)
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