STOP! Please Stop 'Selling' My House!

By
Real Estate Agent with www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

STOP!  Please Stop 'Selling' My House!

Please don't stop selling my house!How often have you heard those words come out of a Seller's mouth?!  I can honestly say that I've never heard a seller utter those words!

 

Many agents will 'call you off' for scheduled showings immediately following their sellers going under Contract with a buyer.  I always ask if the seller minds if we do show so we can bring a back-up Offer if my folks love the property.  Believe it or not, we're turned down about 90% of the time!

 

*Do I want to know that the property already has a negotiated Contract?  Yes, of course but, do your sellers a favor and KEEP SHOWING!

 

I recently had a dozen Offers on one of my listings and even had a bidding war on the BACK-UP Offer!  We have no provisions for a second back-up but, I did, very nicely, tell the remaining agents that we would love to be able to contact them if both deals fell through.  

 

Definitely seek that back-up Contract!I passed along Offers to these sellers, who continued to allow showings for weeks, well beyond their Pending date.  Why, you may ask?  Because, according to recent local stats, 35% of FIRST deals fall through!  Without a back-up Offer, the 'newness' of a just-listed property wanes when it has to go back on the market a second time. Rest assured, your chances of getting as outstanding an Offer as the first one, is fairly slim!

 

From a buyers' perspective, why NOT submit a back-up Offer?  It doesn't cost anything AND it saves a second bidding war and mad rush to compete as well.  

 

Sellers, why NOT seek that back-up Offer?  If it takes 3-4 weeks, so be it!  If your first buyer has lending issues, which include faulty appraisals, you have a second ready, willing and able buyer in line to move right into the buyer position.  

 

© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | STOP!  Please Stop 'Selling' My House!

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Re-Blogged 5 times:

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Topic:
Home Selling
Location:
North Carolina Mecklenburg County Charlotte
Groups:
North Carolina Real Estate
Charlotte North Carolina Area
Buyer Information - What Buyers Need to Know in Today's Market
Advice for Sellers
Bananatude
Tags:
seller advice
agent tips
charlotte seller advice

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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thanks for stopping by, John Wiley and yes, wise, indeed!

Nov 25, 2016 08:26 PM #90
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Thanks, Lise Howe - you have a great weekend as well!

Nov 25, 2016 08:27 PM #91
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Ron Aguilar - I think agents don't understand how much they're costing their sellers - they don't get it themselves!

Nov 25, 2016 08:28 PM #92
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

OH NO!  It does happen, Georgie Hunter R(S) 58089 - thankfully you're still friends.  When they're ready, you'll be ready for them!

Nov 25, 2016 08:30 PM #93
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Dörte Engel - it certainly is worth the effort on both sides!  

Nov 25, 2016 08:32 PM #94
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

They're scary numbers, Lyn Sims - and likely, not as high right now but, when the market was a-buzz, we did see a much higher incidence of buyers terminating.  'Tis almost the season again!  

Nov 25, 2016 08:35 PM #95
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Michael Jacobs - Absolutely!  I had one that lost the buyer AT the Closing table - the buyer evidently lost their job and couldn't even come to the Closing!  With a vacant house and no back-up, they wound up having to pay for staging and still took a little less because they had, obviously moved out.  

Guess what?  They didn't want any further showings after they went under Contract and we could not get either of the other 2 buyers that were involved in the bidding war, to submit a back-up!  Had I had another week to work on getting them a back-up on the front-end, it could have saved them tens of thousands of dollars!  

Now, I share their story with my sellers who ask for no more showings!  "Just give me a WEEK!!"

Nov 25, 2016 08:40 PM #96
Rainmaker
315,883
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

Great post Debe - costs the seller nothing but a bit of time and inconvenience to keep showing after an accepted offer.   The reward?   Here, we don't have that high of a percentage of TFTs, but, still!    It's just plain prudent to pursue having another buyer in your back pocke,t just in case.

Nov 26, 2016 09:37 AM #97
Rainmaker
351,629
Diana Dahlberg
1 MONTH REALTY - Kenosha, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

 Thanks Debe Maxwell ... this actually happened to me last month.  I had 7 offers on a property and my buyer won.  After a few weeks (due to the seller not being able to fulfill) my buyer walked and all the other buyers had already moved on and we had to start from scratch.  We got it done, but it could have been much worse.  Your post was well written and I agree with your points.  We never know ... so why not continue marketing? No Loss! Only gain.

Nov 26, 2016 07:53 PM #98
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Absolutely, M.C. Dwyer!  That's exactly what happens and I'm shocked at the number of agents who don't get it!  Even in a hot market, starting over means more carry-costs AND a lower sales price.  

 

 

Nov 26, 2016 08:45 PM #99
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Diana Dahlberg - that has happend to us all before and it's ever so frustrating! And, I'm sure your sellers would rather have had that back-up than to have to scramble to re-prep the house after beginning their packing to move on to the next one!  

Nov 26, 2016 08:47 PM #100
Rainmaker
2,971,765
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Debe. I'm not a proponent of back up offers or continuing to show a property once a deal is made. I think it all uneasy. If the deal fails, then you can make the call.

Nov 28, 2016 01:49 AM #101
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Debe, wow!  35% sounds really high for a kick out rate!  But when you are the listing agent, it's always good to have a Plan B!

Nov 28, 2016 06:52 PM #102
Rainmaker
936,260
June Piper-Brandon
Remax New Beginnings - Baltimore, MD
Piecing Dreams One Home at a Time

In recent months I've had so many sales fall through that continuing to show is not at all a bad idea. 

Nov 28, 2016 08:02 PM #103
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Sheila Anderson - In our market, people will just move on to the next bidding war so, it's best here to get that back-up in the event that #1 falls through.  I know it's not the same in every market though!

Nov 28, 2016 08:04 PM #104
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

It really is, Patricia Kennedy - I'm all about the Plan B!

Nov 28, 2016 08:05 PM #105
Ambassador
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Agreed June Piper-Brandon!  When you're proactive, it saves a lot of headaches and loss of money for your sellers down the road!

Nov 28, 2016 08:06 PM #106
Rainmaker
877,878
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Very smart advice.  You never know what can happen in a contract, lending issues, repair issues and more!  

Nov 28, 2016 08:09 PM #107
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I had one that almost backed out at the 30-day mark (buyer) and the seller would never have gotten what my buyer Offered.  Thankfully the seller finally agreed to repairs and we are almost to the finish line!  My buyer would have been just fine to walk and the seller would have lost a lot more money than the cost of repairs, Jan Green!  I know their agent is glad as well - they did not have a back-up!

Nov 30, 2016 09:46 PM #108
Rainer
17,640
Daniel Dominguez
Realty Connect USA - Hauppauge, NY
I'm an RE agent serving Nassau & Suffolk County

Thanks for the great advice

Apr 28, 2018 07:20 AM #109
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