Something to REALLY think about!
Question: Are Cutthroat Home Buyers Causing Home Values To Decline More?
While you're working with a buyer, when they write an offer, do you just let them write it where they want? Do you let your buyers write low offers just to get that desperate seller to give their home away? Are you writing multiple offers to see which sellers are desperate?
If you're the agent that plays the multiple low ball offer game with your buyers to get the best deal, did you know that deal just caused all the neighbors properties to decline in value?
Does your buyer care that he just set the first domino in motion of a large decline in neighborhood values where he/she just purchased their "investment" property? Does he/she realize when they try to flip and sell that home in six months, they to will lose money because of this domino affect?
Does buying a home at bargain prices really net you more money? When a buyer pays a bargain price on a home, the next seller in that neighborhood has to use that comparable when they sell their home.
The lower price the buyer gets, the lower price the seller has to sell for. And since they had to sell lower, the next home seller in that neighborhood will have to do the same thing. And the dominoes start to fall, and fall, and fall. How does this affect the value of the property you just bought?
Should we be educating our buyers on this domino affect? Do I even know what I'm talking about? What do you think? What about you home buyers? Are you cutting your own throat by pressuring a desperate home seller into selling below market value?
Platinum Real Estate Group
Please Help Carolyn Capalbo