Seller Says The Price Is Firm-What Message Does This Send To Buyers?

By
Real Estate Agent with Integrity Real Estate Group

Seller Says Price Is FirmRecently my clients sent me a listing in Northern Virginia they were interesting in seeing.  The description indicated the owners were not willing to negotiate on price or provide any closing cost assistance to the buyers.  It made me wonder, is this the reason the house has been on the market for over a year?

There aren't any sellers I know who are happy to get a "low ball" offer on their home.  However an offer is an opportunity to negotiate.  By saying you won't go any lower are you keeping potential buyer's at bay?  Your home may be competitively priced and if so then standing firm on what you are willing to accept is perfectly reasonable.  However announcing you aren't even willing to negotiate may not be the best idea.

My buyers are mulling over whether to view your house or not.  They might have been more eager to see the house if you didn't tell them before they walked in the door that their offer might be met with a REJECT stamp. 

 

 

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If you are interested in learning more about the Northern Virginia Real Estate market including Alexandria, Arlington, Fairfax and Prince William Counties give Cindy Jones and Integrity Real Estate Group a call at 703-346-2213.

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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Ed-it struck me as off putting to state they weren't willing to negotiate on price.

Feb 08, 2012 12:01 AM #21
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Brenda-better to leave the door wide open for any offer and negotiate than slam the door before a buyer even walks in.

Feb 08, 2012 12:03 AM #22
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Tammie-so true.  Waiting for my clients to make the decision on showing.

Feb 08, 2012 12:06 AM #23
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Kristin-I've encountered a few sellers in the past who were firm on their price.  They still are in their houses. 

Feb 08, 2012 12:08 AM #24
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
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Karen Anne-as the buyer's agent I've looked at the comps and think the sellers are off by about 10-15K.  The market is dynamic and by saying the door is closed on negotiation prospective buyers may just say okay then I won't bother to look.  Hence the days on the market continue to climb.

Feb 08, 2012 12:10 AM #25
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Marte-you are right I don't think it's positive psychology to say you're not willing to negotate.  Every buyer wants to at least try.

Feb 08, 2012 12:11 AM #26
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Steve Shelton
RE/MAX Tri-State 256-810-4786 - Florence, AL
REALTOR, Florence, AL homes

Cindy,

Great post.

Have you ever noticed that if you extend your hand out to someone to shake hands with them that they naturally will reach out to you. I have illustrated this concept to a seller by doing just that. While I am talking with them - I reach out to them with my right hand. 99% of the time they shake my hand. Then I explain to them that this is the response we want from a buyer. Being firm on price does not cause buyers to reach out to you.

Feb 08, 2012 03:31 AM #27
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Price is firm plus outrageious number of days on the market translates to sellers are unreasonable. 

Feb 08, 2012 05:14 AM #28
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Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

This is so true.  I can't imagine what their agent is thinking.  Insanity.

Feb 08, 2012 09:09 AM #29
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Cindy Certainly not a good selling feature

Feb 08, 2012 10:01 AM #30
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Cindy

Some selling put their home on the market to sell and some don't.

Good luck and success.

Lou Ludwig

Feb 08, 2012 12:27 PM #31
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Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Interesting Cindy. when I see that on a listing, I want to be the first to see if the seller will negotiate.  I love challenges.

Feb 08, 2012 12:46 PM #32
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Holly Weatherwax
Associate Broker, Momentum Realty - Reston, VA
A Great Real Estate Experience

We have all met sellers like this. They obviously are not getting good advice.  There is more than one way to get to the outcome you desire. How about seeing if the buyer likes the house before you begin a negotiation?  If they don't like the house, not only has the seller not sold it to your buyer, but they have signaled to you, as a buyer's agent, that it might not be worth bothering with if you have other clients.

Feb 08, 2012 11:09 PM #33
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Steve-very true and a great response.

Feb 11, 2012 07:34 AM #34
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Chris Ann-after a home has been on the market for over a year and others are selling around you. you'd figure they might get the hint.

Feb 11, 2012 07:35 AM #35
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Suzanne-since the seller can't see the listing remarks the agent should take them out and deal with any offer that comes in.

Feb 11, 2012 07:35 AM #36
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Hannah-not one that is working well for this seller.

Feb 11, 2012 07:36 AM #37
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Lou-this should be one that would sell.  If they weren't turning buyers away before they walked in the door.

Feb 11, 2012 07:36 AM #38
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Kay-my clients did go see the house but it wasn't quite what they wanted.

Feb 11, 2012 07:37 AM #39
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Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Holly-even though our inventory is low sellers need to keep the door open to all buyers.

Feb 11, 2012 07:38 AM #40
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