Do you preach the important of negotiating your first offer into a contract? For whose who don't understand the real estate language, an agreement for the purchase of real estate is only an offer until both sides agree on all conditions, and if all agree, then it becomes a contract. The contract will or may have many contingencies that must be satisfield in order for the transaction to be completed, but it is a binding contract......by far, the biggest mistake that I have found with sellers is in being confident that all buyers expect a counteroffer. When a seller counters a buyers offer! What happens? Only three things can happen, right,,,,, one of them would be the buyer will not except the counter; the buyer can counter the counter; the buyer can reject the counter and get in there car and go home. This is certainly not to say that the first offer should always be accepted, but I have found that even strong first offers are rejected at a very high rate. Most real estate people believe among sellers, most buyers do not make offers in order to initate a protracted, emotionally draining negotiation. Think like this, the buyers just likes the property and really want to buy it for a fair market price. When a buyer presents a reasonable offer that should be accepted and instead it is countered, that always has a insult effect on the buyer. In some cases, particularly those who make strong, good first offers----do not expect a counteroffer.  Counteroffers can be counterproductive.

The best way that I have found is to always consider those first or early offers and work them to dead, rather than automatically reject or counter.... The offer that seem to have no hope may eventually may reach contract status...

 

Good luck

Jack

 
Post is included in group: Realtors®
Post is included in group: The Art Of Marketing You
Post is included in group: Almost Anything Goes
Post is included in group: Posts to Localism
Post is included in group: The Ninety-ninth Percentile

3 Comments on Turning your offer into your closing sale

JUN
24
2008

I always get a hold of the listng agent to see exactly what the sellers are looking for, and write it up that way.  It has saved a lot of headaches, and lots of counters.

9:23pm • #1

Jack, could not agree more. It has happen more than once where my clients have put forward a very fair offer and seller whether private or bank have countered it resulting buyer withdrawing because most of buyers shy away from lengthy negotiations and rather move on to another property especially when they have so much inventory to choose from right now. Counter for sake of countering or because it is expected results in lost contracts. Fair contracts should be given serious consideration first time around.

Ranjan Arora
9:34pm • #2

Jack, could not agree more. It has happen more than once where my clients have put forward a very fair offer and seller whether private or bank have countered it resulting buyer withdrawing because most of buyers shy away from lengthy negotiations and rather move on to another property especially when they have so much inventory to choose from right now. Counter for sake of countering or because it is expected results in lost contracts. Fair contracts should be given serious consideration first time around.

Ranjan Arora

Grace Pro Home Realty

9:41pm • #3

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Jack Climer

Springfield, MO

More about me…

Jack Climer Realty, LLC

Office Phone: (417) 773-3677

Cell Phone: (417) 773-3677

Email Me



Links

Archives

RSS 2.0 Feed for this blog

Find MO real estate agents and Springfield real estate on ActiveRain.