I have a great house listed for sale and I have been showing up for the showings to get feedback from the buyers and the buyers agents.
In the past week at 2 different showings with 2 different buyers, I was asked by the buyers if there was negotiating room in the price of the house as it was such a good deal. I told there was a little negotiation room, but the seller priced the home to sell, so do not make an offer less then $20,000 under asking.
The first buyer's agent sends over an offer $60,000 under asking. My seller counters back $5000 under asking to see if the buyer is serious and will negotiate. I get no response from the buyer' s agent even though I contact them 3 times. Finally, I get a response that the buyer will not buy the home unless the price is as it was on the orginal offer. I then find out this is the 10th low offer the buyer has made. Will he ever get a house? Maybe, but not this one. I was so frustrated with the agent who would go write this silly offers over and over and waste not only his time, bur our time.
The second agent calls me and says their buyer will only pay $70,000 less than asking as that is what she is selling here home in Minnesota for. I said I would present any offer, but this is too low for this house.
When will agents educate buyers as to the real market? I have comps in my listings. I think this shows the value. I feel it is up to us as agents to not waste our time and others too with unrealistic buyers.
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