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    Yes, I know this was mentioned in a previous blog, but I've spent 20 minutes trying to find it so reference and link to it, but I can't. The point, though, was to tell you about a recent situation we had. We had shown buyers several properties, and thought they were going to make an offer on one of them. It had originally been listed at $999,000, a good price for that particular property, but was recently reduced to $949,900. The buyers liked the home, thought about it, but then decided to return to their home up north and think about the whole idea of relocation and retirement. 

    We received a call from the listing agent, to convey that the sellers were offering to sell our buyers the home for $899,000 if they would close in 60 days.  Wow!  We called the buyers and relayed this. They had almost conclusively decided not to move here, but said they'd think about the offer over the weekend.  On Monday they called back and said that they would be willing to pay $850,000.  That wasn't a happy call for the listing agent, but - professional that she is, she did not make a decision for the sellers. Result: the sellers accepted the buyer's offer and we're now under contract.

    In this particular case, the seller's strategy worked, though not at the price they'd hoped for. Had they not made an offer to the buyers, the buyers would not have purchased their home.  Perhaps it's an approach that bears more thought. We do need to think outside the box (what box?).

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area. 


 

 

11 Comments on Seller Offers to Buyers

Featured by Laurie because in todays market out-of-the-box ideas are often the difference between sale and no sale.  We have many newer Realtors who will appreciate this lesson.

 

Thank you for sharing Sharon. 

03/03/2007 12:55 AM by Laurie Manny, Long Beach Homes - Long Beach Condos (Main Street Realtors Long Beach California)


It just goes to show you, you never know for sure how a transaction will go.  I thought that the punch line was going to be that while they were thinking it over, someone else bought the house.  Happens sometimes.

03/03/2007 02:23 AM by Roger Stensland (Brio Realty)


Sharon:

 

You stated "...professional that she is, she did not make a decision for the sellers..."

Why does obeying the law make one a "professional" as a realtor?

I find it interesting (from a real estate auctioneers point of view) that realtors find it novel and new to tell the truth to clients and do what they are supposed to do?

My understanding of the agency agreement is EVERY bid or offer made is to be presented to the seller.

As auctioneers we deliver cash to sellers in about 6 to 9 weeks after signing the listing (meaning closed transaction) and do not have the luxury of puffing prices or playing negotiation games.

So when we list property for auction we tell sellers the truth about market prices which in this case was $150,000.00 below the listed or "wish sandwich" price.

realtors always ask me "how can you tell the truth to sellers about prices?"

I find it interesting that an industry with 2 million practioners find telling the truth and doing what they are supposed to do, new and novel ideas. called "Thinking outside the box"

Where does this come from?

Please explain why one would not present any bonafide (meaning written with deposit in hand) offer or bid to a seller?

Just wondering what drives 2 million people to base business on lies and illegal actions.

03/03/2007 07:26 AM by Billy Burke, CAI - AARE (Pax AuctionsThe Industry Standard)


Maybe you were thinking of my post?  Glad yours was featured. I think most agents have not considered this option.

03/03/2007 08:07 AM by Maureen Francis & Dmitry Koublitsky, SKBK Sotheby's - Metro Detroit (SKBK Sotheby's International Realty)


Good job, Sharon!

Seller gave a "Buying Sign," and you helped your clients acquire the property.

Buying signs can come from either sside, at any time.

03/03/2007 09:05 AM by Mike Jaquish Keller Williams Realty, Cary, NC (Keller Williams Realty)


This is a great post.  It reminds us that we should dig deeper and find out all of the things that are important to the buyer/seller in making a selling or buying decision -- it is NOT always about the money! Even if people state that it is.  The other important thing is not to prejudge what the buyer or seller will do.  Too often I hear "oh, my Seller would never accept and offer less than $$$$$."  Or, my buyer would never consider a closing date of ________________.   

03/03/2007 09:12 AM by Joan Whitebook, ABR,e-Pro,CEBA Southern New Hampshire (Buyer's Option Realty Services)


Weird things can happen in a market where people are panicked to move...

03/03/2007 09:57 AM by Boca Raton & Lake Worth Florida Real Estate Broker


Maureen - yes, it was your post, and thanks for including the link above. Obviously the reason none of my search terms worked it that your Secret Weapon was actually on your other website and not your ActiveRain Blog. I tried, and I'm glad you caught the post.

Billy - it was the sellers making an offer to the buyer that's "outside the box", not conveying the offer to the sellers. Of course it's the law, and of course we tell the truth to our clients. Unfortunately there are a few bad apples in any industry - and to be, any agent not obeying the law is "unprofessional" and a whole lot more! 

Laurie - you're welcome, and thanks not only for the featured post but for the reasoning behind it!

Roger - you're right. Every transaction is different and has many possible outcomes during negotiations.

Joan - that "too often" response doesn't make for a good relationship with the other agent, either.

David - weird things can happen in any market, not just when people are panicked to move... 

03/03/2007 10:37 AM by Sharon Simms St Pete Florida CRS CIPS CLHMS (RE/MAX Metro)


There's always a way to make a deal! Way to go Sharon!

03/03/2007 11:41 AM by Danny Smith (DISCOVER TEXAS HOMES)


WOW!  You never know what might happen unless you ask!  CONGRATS on working out a deal!

SK

03/03/2007 03:43 PM by Adam Tarr ABR,ePro, Assoc. Broker (RE/MAX Excalibur)


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Real Estate Agent: Sharon Simms  St Pete Florida CRS CIPS CLHMS   (RE/MAX Metro)
Sharon Simms St Pete Florida CRS CIPS CLHMS
Saint Petersburg, FL
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RE/MAX Metro

Office Phone: (727) 866-0048 Ext.: 112
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Information on Real Estate, Properties, Traditions, Neighborhoods, Market Activity and other items of interest in the Tampa Bay area (St Petersburg, Clearwater, Tampa, Bradenton) and the Gulf Beaches, Florida.