User70184_4_t Susan Mangigian, West Chester PA Realtor RE/MAX Preferred, ABR Search for homes
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The current buyer's market brought back a memory of when I was newly married.

Many years ago, well, I'm not that old so it wasn't many, many years ago... well long enough ago, I had a garage sale at my old home.  I had a friend in the clothing business and he did liquidation sales for people. 

Well, our friend in the clothing business, Norman Levin, was a funny man!  Sales were a little slow that morning... apparently my junk was not someone else's treasure.  It was getting boring.... as all of my garage sales tend to be.  I am sentimental and hate to get rid of anything... I put too high a price on things.  I actually cried a few years ago when someone bought Max's Teletubby.  Max is almost 12 and hasn't watch the teletubbies in quite a while.  My neighbor told the buyer to run while she had the chance when she saw me crying... she thinks I'm pathetic, at least since we went to see a Rugrats movies years ago and I cried because Chuckie doesn't have a Mommy.

Sorry, I digressed.  We are at the garage sale many years ago... sales are slow.  As a joke, Norman had a sign that stretched across our lawn from the garage to the living room.  The sign said NAME YOUR OWN PRICE!  

name your own price

Well, the action really picked up then!  People were grabbing handfuls of my things and offering me 10 cents.  I was appalled.  This may have been my junk but every piece had a memory.  I ran outside and started yelling..."Norman, take the sign down... Norman!!!".

I think that in a buyer's market, sometimes buyers get the impression that they can "steal a property".  When people ask me what they should offer, I always suggest we look at the recent sales and see what a fair offer would be.  I don't want to help you find a "deal".  I want to help you buy a house, a good investment, a place where you will be happy to call home. I want you to get a good deal, but a good deal is always better when the seller also feels like he won something too.

 

 
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9 Comments on Name Your Own Price

Oh boy, Susan - I cried cuz Chuckie doesn't have a mom too!!!!!  Rhiannon always makes fun of me.  I told her when she has kids she'll know how I feel!  lol

05/21/2008 09:46 PM by Chris Fisher of StagersLIST.com Buy Stage Sell (StagersLIST.com)


Susan,

Don't ever worry about the "steal" thing, just remember it is always where buyer and seller agree!  Sellers are not usually afraid of saying NO!  Work your deals on both ends just as though you were kneading dough for bread.

05/21/2008 09:55 PM by Sara Homan, Realtor, Residential, 55+Adult Homes, & Farms (Coldwell Banker Ellison Realty Inc)


Susan, you are grabbing my thoughts from one state away - today I was driving up to a listing appointment and I realized our prices have gone from feeling solid to feeling like a very melty jello-ish condition...it's like buyers think they can just offer anything ridiculous and it might work.

Thankfully, it's just a feeling! Most of the sellers are smarter and more tenacious than that!!

05/21/2008 10:16 PM by Dawn Maloney, ABR (Geneva Chervenic Realty)


Susan - as one our agents has taken to saying, "the list price is just a guideline" it certainly seems that many buyers have the need for finding the ultimate deal.  Thankfully, many others are able to be realisitic and are willing to look at the whole picture when writing an offer.  Best of luck.

05/21/2008 10:40 PM by Lynn Johnson, Owatonna, MN Real Estate (Coldwell Banker Home Connection)


Susan,

I need to teach you a lesson:)))...first when you want to get rid of stuff at a garage sale...if you sell it in bunches it's a;ways easier to sell. We once had to clear out a house full of old furniture. We were doing a lot of renovations and seller didn't remove anything and left us with that. We stuck a sign out...everything free...but we still made people take one whole room instead of only one item...we got rid of the whole house in one day. Now as far as pricing on homes...exactly...go by the comps if your buyers are not really educated to our market...make a resonalbe offer and it will either be accepted...rejected or countered.

05/22/2008 07:06 AM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)


Susan, you and I are on the same page with what you said from a listing agent's perspective trying to build a win - win. I also want to build a win - win as a buyers agent. Apparently there are others out there today as buyer's agents have the name of Norman. Several agents who have sent strong low ball offers over the wall to me, I called them up and asked them prior to presenting it, and said, "Are you kidding?" They play the role of the messenger and say they are testing the waters for desperate sellers. I tell them, we're not THAT desperate. Apparently some sellers are. I chastise the buyer agent for not being more of a consultant and looking at comparables, but apparently they don't care. They are ONLY in it to get a deal done. They don't get it done on my houses. As far as crying for Chuckie, there you go again with that beautiful heart of yours ; )

05/22/2008 07:37 AM by Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty)


After a lot of well presented and documented advice on reasonable offer price, a buyers' agent in the end is obliged to present his buyer-client's offer, even when it flies in the face of all that good advice. 

05/22/2008 06:43 PM by Rosario Lewis, GRI ~ DDR Realty, Orange County, NY (DDR Realty)


Susan,

I could not say it better. Indeed just like you "I think that in a buyer's market, sometimes buyers get the impression that they can "steal a property"."

Few times I was approached by buyers (some that would call themselves - friends-) who would ask me to help them to " GET THE BEST DEAL" ... Nothing wrong here but later I found out that in reality some of them were after more than best deal... You know what I mean.

I always run away from people like this... No, thank you!

05/23/2008 02:20 PM by Arina S. Hanciulescu (ELITE REALTY)


Well said and I have to agree with you on getting rid of things at a garage sale with a "NAME YOUR OWN PRICE" was a little drastic! There are some things I've collected over the years and I know I would cry also if I had to part with them at a garage sale for 10 cents.

05/29/2008 12:19 AM by Todd Clark (Realtor), GRI (Your Washington Co. Real Estate Expert) (Kastings & Associates)


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Real Estate Sales Person: Susan Mangigian, West Chester PA Realtor RE/MAX Preferred, ABR  (RE/MAX Preferred, West Chester, PA, RS152252A)
Susan Mangigian, West Chester PA Realtor RE/MAX Preferred, ABR
West Chester, PA
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RE/MAX Preferred, West Chester, PA, RS152252A

Office Phone: (610) 719-1700
Cell Phone: (610) 299-6237
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