logoIt seems that recently all initial offers are considerably below listing price. Maybe it is because buyers assume everyone is desperately selling, or because competition is higher for certain price levels. It does present challenges when presenting these lower initial offers to your seller. Many sellers become almost offended by these offers at 15- 20% below list. If the selling agent has done their homework the pricing should be relatively close. It does seem that when you begin negotiating from these lower starting points you will inevitably end up with a lower sales price. The best a listing agent can do is get lots of comps from the area, which is becoming more difficult with less sales to utilize in marketing analysis. Agents should also inform sellers of possible potentially low offers so they don't think they are being manipulated. If possible gather your data from a specific price range and look further back in sales history to find more comps if your in a softer market. The more information that is collected the more accurate the market analysis will be, and the more accurate the listing price as well.

 

1 Comments on Lower initial offers on listings

MAR
21
2009
1,949,527 Points 155 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I think more and more buyers are looking at every home on the market like a short sale. Just throw the offers out there and see what sticks.

 

3:58am • #1


Spam prevention

To submit the form,
drag the umbrella to the circle on the side.

Image?id=06a9ea971155a3f354431d1a66eee161ae3c55f8 Image?id=0f70d90ab02ce4af3de59a8da4b0bfa5bedd148d Image?id=4ed57e635e4dcc48107c2d8fdeecce554440ee20 Image?id=14696fca440597744dfaf678d342ddc16cccebdc Image?id=16faad5b407962766d832361546df7e2115956cf

Accessibility option: listen to a question and answer it!

Type below the answer to what you hear. Numbers or words, lowercase:

Leave a response…


(optional)
Spam prevention

To submit the form,
drag the sunglasses to the circle on the side.

Image?id=51d1b9347bfcd3a8ba62dec5e7b927b64f4c6770 Image?id=b8aad988434a34aca83c117cbdf6572b19ea6864 Image?id=77d4fb6fa6b60a8c0ebddfe19d0922ae621ebbf9 Image?id=ca495c09b78915b60164cb1707b7dfeed4dc3256 Image?id=a84bd47a713605ddf2b491a39ad6a11613eb0e19

Accessibility option: listen to a question and answer it!

Type below the answer to what you hear. Numbers or words, lowercase:

 
Rainmaker_large

Todd Maxedon

Decatur, IL

More about me…

Brinkoetter and Associates

Address: 1610 E. Pershing Rd., Decatur, IL, 62526

Office Phone: (217) 875-4219

Cell Phone: (217) 254-0530

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find IL real estate agents and Decatur real estate on ActiveRain.