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Reverse Offers - Wow What a Concept

By
Real Estate Broker/Owner with Key Real Estate Services & Property Management

Do you have a fantastic listing, gorgeous inside and out, with countless upgrades, lots of showings but no offers!  Sound familiar? When Real Estate gets tough, we have to get innovative.  Non-traditional marketing and pro-active methods become necessary.  exactly what the Innovative Realty Group does.  Waco is not a tough Real Estate market, but when you have a fairly specific property and don't have traditional buyer's looking at it, it's definitely a challenge!

Recently, a video from 60 Minutes, 20/20 or Dateline show aired about what Real Estate agents and seller's are doing to get homes sold in hard hit areas.  The video was about a family in California who couldn't sell their home, since everyone else in the area is trying to do the same thing.  They were priced well, had lots of showings but no offers.  So their agent suggested they do a "Reverse Offer."   In the video, the hopeful sellers had a family come through for a second showing.  Normally this is a sign that an offer is about to be made, but the potential buyer's were also viewing a home down the street for the second time.  Being innovative and pro-active, their agent suggested they make a reverse offer.  This is where the sellers actually make an offer to the potential buyers! 

Probably not something you should do every time you list a home and get a showing.  I know your thinking, sounds a little desperate.  Well if you a seller needs to sell a home, aren't they a little desperate anyways? 

Real Estate is not the same as it was 20 or 10 years ago and we need to keep the innovative ideas flowing, why must we play the same old game of lets list the price high so we can haggle down to what we will really accept, (frustrating everyone), why not just give your best offer to someone who may be interested to see what could happen, your not out anything.  Is this a desperate attempt to sell a house?  No, its a pro-active measure to get your clients home sold, and that is a Realtor's job. 

A reverse offer is to encourage a serious buyer to get off the fence and do something.  Sometimes people just need a little push!

Posted by

Malisa Spivey

Comments (1)

Jackie DeShazer
Montana Country Real Estate - Libby, MT

Malisa and Damon -

That is an innovative idea and it might come across a little desperate but being aggressive is not always a bad thing. Thanks for the great post.

Apr 17, 2009 06:23 AM