So How Much Will The Sellers Take?

Reblogger
Real Estate Agent with John L. Scott MPV 104970

How much will the sellers take?

Patricia answers the all-to common question..."How much will the sellers take?".

I've heard this question, sometimes it takes different forms or is worded differently but essentially its asking the same question to get the lowest possible price they want to know "How much will the sellers take?"

Do you REALLY think we know that? If we did, do you REALLY think we'd tell you? Patricia addresses this one...

Original content by Patricia Kennedy AB95346

If you are thinking about making an offer on a house you like, chances are you are planning to make an offer for something less than the asking price.  And chances are you'd like some idea of what the magic number might be - the absolute least amount of money the seller will take.

Well, if you are thinking about asking the listing agent for this little piece of information, save your breath!  If she knows, she can't tell you.

But guess what!  She doesn't know.  She doesn't have a clue.

And guess what else!  The sellers don't know either.  They won't have a clue of what their bottom line is until they are faced with an offer and go back and forth a few times with the prospective buyers.

So if you are wondering what the sellers will take, make an offer.  If your number is too low, the worst thing that can happen is that they will reject your it.  In this market, however, they are more likely to make a counter-offer.  After a little give and take, you will get your answer, and if you can reach a meeting of the minds, you'll have a new house.

One of the great things about buying in a buyer's market is that you can negotiate, and most sellers are willing to do a little horse trading to sell their homes. 

If you wait until the market turns around, you could find yourself having to compete with other buyers who all want your house!

Comments (5)

Stephanie Reynolds
Integrity First Financial Group, Inc. - Santee, CA
East County San Diego Homes 619-838-4408

This is funny! It really will depend on the day, the offer, their mood, how long it has been on the market, if they need to make the mortgage payment, if the dog is sick....who really knows!

Mar 09, 2010 12:54 PM
Ken Jansen
REMAX INFINITY - Overland Park, KS
REALTOR, CRS, 913.908.2215

I think the reason some folks ask is that sometimes the listing agent actually answers. And sometimes they tell you something useful, and  sometimes not. When I work as a buyer broker, I need to ask. When I work as a seller broker, I need to not answer. It is like the military phrase, our job is not to die for our country, our job is to make the other guy die for his country. Our job is to look out for the clients interests and sometimes that might mean asking to see the other guys cards at the poker table.co

Mar 09, 2010 12:58 PM
Howard and Susan Meyers
The Hudson Company Winnetka and North Shore - Winnetka, IL

So simple yet so true. 

Mar 09, 2010 01:00 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Jeff,

And still I call every time and I find it very beneficial. I would ot get the exact amount, I know that. But I will know whether there are other offers, or whether they have rejected low offers before.

It is especially important when I deal with people who are here to steal. i get a pretty good feel whether they would be able to do it, or not.

I can then tell them that they may end up wmpty handed.

You will not get the exact amount, but you will get a lot of useful information, details on the property or the area that are not in the listing agreement.

So, don't just write an offer. Call first.

Mar 09, 2010 01:13 PM
Jeff Rainwater
John L. Scott MPV - Maple Valley, WA

Stephanie - Thats true. Lots of factors go into it. I've seen offers that have been laughed at and 3 months later they are asking for that person's phone number.

Karen - I suppose some people don't think about the fact that we are under contract to represent the seller's best interests.

Ken - Well said. Don't ask and you may never find out. I recently asked a listing agent "So how much is the other offer?" and she told me! Well I bet you can guess how that turned out.  =)

Howard and Susan - Yep, basic logic

Jon - I ALWAYS call. As a CNE (Certified Negotiations Expert) you learn to ALWAYS call about the listing before making an offer. Why stab in the dark? You can learn a lot by calling and asking a couple questions then just shut up and let them talk. Even if you know the answers already, call and ask anyway.

Mar 09, 2010 02:08 PM