Waging War . . . Real Estate Deals Where No One Wins!
ARE YOUR BUYERS DROPPING STINK BOMBS? This was a GREAT article written by a colleague of mine Carla Muss Jacobs explaining how misguided some buyers have become in their efforts to get a so-called deal steal. I am totally an advocate of bargain hunting, but there is a fine line when house hunting becomes looky-looing simply because there has been a pattern of lowball offers that will most likely NEVER get the buyers to contract. It's a total waste of my time, the buyer's time, the lender's time, the seller's time, see another pattern here?
After practicing real estate in my local market for over 12 years, I've seen all kinds of markets. From the fast-paced multiple offers, with escalation clauses -- just to get the buyer the home they wanted -- to buyers who are hell bent on getting the seller to bend over backwards and bark like a dog.
Both examples are extremes. The war is waged when the offer is in a bidding war. The war is waged when buyers cluster screw the sellers.
The house isn't the goal anymore, it seems. The goal is to get the seller to walk away with . . . well, as Mimi Foster writes in her recent post "Know When to Hold 'Em . . ." and I quote: "Buyers did not seem to understand that just because things were bad, that the point in making offers was not to figure out how insulting you could be, or how hard you could kick someone when they were already down. In many respects, the job that I had loved for so long had become markedly more stressful, and it became harder and harder to please anyone."
Recently, the deals have become so war-like, coming from buyers who smell blood. They aren't compassionate about the sellers situation . . . they just smell the blood in the water and seem to have the propensity at ripping the sellers' flesh off.
My job is to represent the client. I get that. But when I become the hired gun . . . and "hired" is used in the loosest sense, since the buyers pay nothing . . . it's become increasily more difficult to understand buyers motivations.
In one instance, I've witnessed sellers dropping price by, and I'm not making this up, over $300,000 -- and buyers still want to offer $50,000 off current list. I quickly became the enemy when they accused me of not "negotiating" for them -- because I laughed when they told me what they brilliant idea of an offer was.
I've had the . . . hmmmmm . . . pleasure of dealing with several buyers of late who seem to have no problem whatsoever with kicking sellers. I've had buyers who approach the seller as the enemy, and the only position they can have during negotiations is to undermine any attempts at being . . . human.
Sellers are dropping prices left and right . . . and buyers are still wanting more. The art of the deal has now become the art of the steal. What more can buyers squeeze from the sellers . . . the new buying mindset.
When do negotiations become a battle? The walk away from any transaction should be content and happy buyers AND sellers. It's becoming increasing "stressful" to work with buyers who see the seller as the marked target, and engage me to be their mercenary sniper.
-----------------------------------------------------------
~ Representing Buyers Since 1999 ~
Carla Muss-Jacobs, ABR, CEBA, e-PRO, Realtor®
Principal Broker/Owner ~ EBAPortland, LLC
YOUR Exclusive Buyer's Agent1722 NW Raleigh St., Suite 116 Portland, OR 97209
(503) 810-7192 / Carla@CarlaHomes.com
CHECK OUT www.EBAPortland.com for Home Buyer TIPS!
All rights reserved ©
Comments(0)