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Reverse Offers . . . it's worth a try!

Reverse Offers . . . it’s worth a try!

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Have you ever heard of a reverse offer?? Okay, let’s say that you have your house listed and it seems that you are having some second time showings or maybe third time showings. Maybe it’s time to ask your Realtor® about doing a reverse offer.

A reverse offer is when your Realtor® contacts the buyer’s agent(s) that have showed your property more than once to the same buyer's. Of course there must be some interest in the property because why would they want to see it more than once? Truth be known that there probably is one or several factors holding the potential buyer's back from making an offer.

Ask your Realtor® to look into a Reverse Offer.

To start a Reverse Offer your Realtor® will contact the buyer’s agent(s) to find out what is holding their buyer's back from making an offer. If for example they say the property needs new carpet in the master bedroom, the living room needs painted, and/or the buyer's need a fenced-in backyard….these are issues that can be worked out; if you are willing.

You can discuss, with your Realtor®, what you are willing to do to help alleviate the issues…thus creating an offer. Then your Realtor® will contact the buyer’s agent(s) and present the offer….well the Reverse Offer.

Keep in mind that if the buyer’s agent knows their client well and provides your Realtor® with useful information that sometimes these can work.

Hey what can I say….it never hurts to try!

Good Luck!

About the author:

Teresa Harris is a Lake Norman Residential Real Estate Broker who can assist you with the purchase and/or sale of real estate in Lake Norman and surrounding counties. Please visit www.TeresaMHarris.com for your relocation and/or your local needs. The information in this post is believed to be accurate but is not guaranteed.

Teresa Harris - Holbrooks Real Estate, Inc. - 704-458-1807 - Teresa@TeresaMHarris.com

Posted by Teresa Harris ~ Denver . Lake Norman . Charlotte on 03/11/2009 10:54 AM

Comments (17)

Reverse Offers in the Home Selling Channel

reverse offers, creative selling, real estate, realtor, teresa harris

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17 Comments on Reverse Offers . . . it's worth a try!

MAR

Teresa ~ A reverse offer is something I had never tried, have you? Would love to hear how it worked! Sounds like something you do in negations!

My friend Amanda Hall does this quite a bit in her market. I actually learned about it from her.

Terrie: I just heard about it last night on the news. I asked the owner of our firm this morning if he had heard of it and he said no. Well then I did a search on AR to see if anyone had posted about it and I think there was only two. I thought it was a pretty cool idea and if it works to help bring people back to a property for a third time just maybe they will decide to write an offer to purchase...

Jason: Like I was telling Terrie I just heard about this on the news last night. I say it's worth a try.

Makes sense. Why not be proactive instead of sitting and waiting? I'd like someone to present an example of when this has worked.

Great information! I've been doing that on a listing I have right now. The buyers don't like the garage conversation, and I told them that the seller would possibly be willing to take care of that, but then still no offer... you've gotta wonder if buyer's agents really know why their buyers aren't writing offers.

hey, teresa - i have heard of this and quite a bit actually! I have never done it but I have heard great success stories.

MAR

This sounds interesting. I will forward to my office manager to distribute. Thanks.

In this market a little creative marketing and thinking will probably help.

Thanks for the post....I will share this as it is valuable info! Cheers from Reno!

MAR

Libby: Yes, you had better be proactive in this market.

Donna: Good luck on your listing! Hope it works for you....

Leesa: At least it is one way to keep some communication going.

Paddy: Good luck and thank you!

Kevin: You've got it!!

Wendy: Good luck and thank you too!!

MAR

I'm actually writing one right now and this will be my first. We have had one buyer in the property 8 times in the last 8 weeks, so we thought we would help them and throw them the offer instead of the other way around.

My seller is willing to pay the closing costs, throw in 1 pt on the mortgage and even give her a one year home warranty just to get her to move in, instead of being a visitor once a week.

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