Wanted to save money FSBO - Buyer wants a discount - What do I do?

By
Real Estate Agent with Godzyk Real Estate Services NH License 033394
http://actvra.in/56pk

Check out this unique situation. A home seller calls who was selling his Condominium FSBO. He said he wanted to save money. He said it has not been as easy as he thouht because buyers wont stop calling. He has sold his condo now on the 5th time. But none closed. This buyer he said, wants to offer less to take advantage of the seller not paying a commission, so the buyer thinks he should sell for less.

 

Before the would be seller could finish, i had him hold. This is a prime example of failures selling one's home theselves face.

 

First he has would be buyers looking at his condo that are not even qualifed to buy a home. 

 

Second ,he signed a contract from a buyer without even knowing they could get a mortgage. 

 

Third, he lost the spring and summer now selling to buyers who wanted to buy, but could ot buy. 

 

When it comes to this current offer, again it is something a FSBO faces, where a buyer wants to pay less. Therefore wiping out any perceived savings and look at the time off from work he lost and time. 

 

This condo is located in desirable complex, all similar units and a sales price that is near $200,000. I commonly get full price offers for my listings. The seller would net $190,000 and have the quick sale he wanted. In this case he is now asking $190,000. His condo is not in MLS, not being marketed to the most potential buyers and is attracting bargain seekers. His latest offer is $180,000 with 6% credit to buyers closing costs. He would net $168,000. 

 

His wife was writing like a machine, taking notes, writing numbers and yelled out they are losing $22,000 by the husband being "too cheap: to list and sell their home the right way. His will to save $10,000 is costing them $22,000 and a sale

 

He looked at me and asked "Could I sell his condo?" I sure can. Then came the however, he wants to keep trying until Labor day, then he is out of days of to keep showing the home, he did not want to give up on doing it himself.

 

Despite his wife's pleas and later walking out slamming the door on him, he said he will call me after Labor day. I thanked him for his time and let him know to call me when he is ready to sell his condo.

 

 

The lesson is that this is why a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.

  

 

 

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

  

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

We stand by you through every step in selling your home
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Topic:
Home Selling
Location:
New Hampshire Hillsborough County Manchester
Groups:
Bananatude
Bartender, Make it a Double
Crap-Tacular
Old Farts Club

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Rainmaker
919,237
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Ditto exactly what Nina Hollander said...you get what you pay for.  

Aug 08, 2017 11:16 AM #5
Ambassador
2,525,283
Anna Banana Kruchten,CRS,CRB,GRI
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Well.....what is that ole saying....when you don't know that you don't know at some point you'll wise you would have known or  listened to an expert and NOT to follow your own advice!

Aug 08, 2017 12:19 PM #6
Rainmaker
3,600,630
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I love your  post. I hope all fsbos will read it and learn.

Aug 08, 2017 01:16 PM #7
Ambassador
2,476,518
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Scott - And I'm sure he'll still be wanting to sell come Labor Day. This is a great example of the real cost of trying to save a few bucks by doing the wrong thing.

Aug 08, 2017 02:34 PM #8
Rainmaker
1,948,659
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Your title line is a testament to what many FSBOs experience.  While they are trying to save on commission, the buyer wants to discount price because of it.

Aug 08, 2017 04:17 PM #9
Rainmaker
1,948,659
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!    

Aug 08, 2017 04:18 PM #10
Rainmaker
2,151,315
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Scott.

Can't say I've ever had that happen to me however, they day is just beginning.

Aug 09, 2017 02:36 AM #11
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Every day is a new adventure James Dray 

Aug 10, 2017 06:28 AM #12
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Thank you for the honor Myrl

Aug 10, 2017 06:28 AM #13
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is so true and happens so often Myrl Jeffcoat , only if i can reach a seller thinking of going fsbo before they run into the same

Aug 10, 2017 06:29 AM #14
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is why i thought it was so importantto share Dick Greenberg , as it does happen very very often

Aug 10, 2017 06:29 AM #15
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I sure hope so Gita Bantwal , thank you for the comment

Aug 10, 2017 06:30 AM #16
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I could not have said it better Anna Banana Kruchten, CRS 

Aug 10, 2017 06:30 AM #17
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

So true Susan Haughton , thanks for the comment

Aug 10, 2017 06:31 AM #18
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is sad so many people learn this the hard way Nina Hollander , i share my story so others may learn from it before hiting the same pitfalls

Aug 10, 2017 06:31 AM #19
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It will stay that way as long as he has the same mind set Chris Ann Cleland 

Aug 10, 2017 06:32 AM #20
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

That is what i am hoping Belinda Spillman 

Aug 10, 2017 06:32 AM #21
Rainmaker
2,338,260
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is a tough lesson Jeff Dowler and cost money, time and sanity

Aug 10, 2017 06:33 AM #22
Rainmaker
1,840,240
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

So frustrating. Well from a wife's standpoint, let me just say that there will not be peace in that home for awhile. The greatest cost to him of all this just may be his relationship.

Aug 10, 2017 07:27 AM #23
Rainmaker
471,705
Karen Feltman
Cedar Rapids/Iowa City, IA Lepic-Kroeger REALTORS - Cedar Rapids, IA
Relocation Specialist

Selling your home by yourself can cause a lot of stress and anxiety in your relationships with your family, especially when they don't agree on the best way to reach their goals.  Too bad that he still wants to waste more time trying to do it on his own.  After Labor Day, everything slows down.  Best of luck to you and them!

Aug 15, 2017 09:26 AM #24
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