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Today's benefits.

By
Real Estate Agent with Crye-Leike Realtors

It is imperative today that the buyers in this market understand multiple benefits for them in today's market and economy. 

First of all buyers need to realize the time that it takes to properly negotiate a contract.  There are huge financial advantages to going back and forth with a seller.  The risks do include the chance of someone else purchasing the house, but the gains can put your family ahead for life!  This is especially true of higher priced homes in our area of Northwest Arkansas.  I'm not doing any sellers a favor by sharing this information, but the absorption rate (the rate homes are being bought vs. how many are on the market) shows that sellers for homes above $300k are waiting up to two years to sell!  This is part of negotiating and making the seller aware of this rate can show them that they had better take the current offer seriously.  That said, the buyer must be ready to see a counter offer that may not appear fair...don't stop yet!  A counter offer is the start of negotiating, not the end! A seller is in a very difficult situation by even having their home on the market during these economic times.  Instead of throwing your hands up counter back!  This time include various reasons as to why the offer is what it is.  For example, maybe the home just isn't very clean, or the counter tops are not what you would choose.  The point is, it doesn't have to be that the roof needs to be replaced!  It can just show that you are making concessions on what you want and in return you want a lower price.  Be ready to hear back again, but you will be suprised 9 out of 10 times...the price will be lower!  Keep it up.  Don't stop yet.  It doesn't cost you to keep offering.  Chop away at it.  There will come a time when all parties will know that the seller has done what they can and are ready to settle.  At this point be ready to sign.  There is no reason to beat a dead horse. 

Last month I closed on a $425,000 listing that I negotiated for my buyer down to $375,000.  This took a little over a month to accomplish, but I've never had a $50,000 month!  In essence, that is exactly what happened for the buyer.  Instantly, they gained $50,000 equity in their home by taking the time to negotiate.

Please do yourself a favor and give yourself time to negotiate.  Getting in a hurry will cost your family thousands.

I will post more benefits next time, but this one is extremely important.  Make sure your are represented and your family's well being is cared for!

Call me if you need an aggressive negotiator to help you buy the home your family wants!

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