How long should a Seller wait for a Buyer to decide if they like it?

By
Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

A buyer wanted the Seller to "swear" they would not accept any other offers until they decided if THEY were going to make an offer. To set the scene, I listed a condominium. I had 7 appointments the first day it went on the market. The seller not having a set of keys made yet, met me to get me inside and went to get the some keys made. 

 

For the next 2 hours the 7 buyers came and went. After the last buyer was leaving the seller came back. He gave me the keys so i could put a Lock box on the property. I updated him on the showings when buyer 7 and their agent came back. The agent and their buyer asked the seller direct if he would wait to answer any offers until they decide if they will make an offer too?

 

Kind of a strange request as they said upfront they just needed time to think about it. Fast forward to this morning. Well... no time to think, 2 offers were already emailed over night. The seller agreed to give that buyer an hour and asked me to come over to go over the offers that were in. Time will tell how serious they are. 

 

The moral of the story is time waits for no buyer. A buyer in this market should have everything in order. When a new listing hits the market, they should be prepared to make their best offer before anyone else. Had they made an offer yesterday, they may have been accepted this morning. 

 

 

The MOST IMPORTANT thing in real estate for me, is to provide great service. To stand out from the crowd by being there through each step of the buying or selling process. My message that I want to share in Real Estate, is that my philosophy is simple, to provide more personal and professional service to guide clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest.

 

To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .

 

About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 32 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties. 

 

    

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
New Hampshire Hillsborough County Manchester
Groups:
POSITIVE ATTITUDE for the Weary Soul
Bananatude
Bartender, Make it a Double
Crap-Tacular
Old Farts Club

Spam prevention
Show All Comments
Rainmaker
1,593,477
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I'd say "You've got a New York Minute" and then I'd have a talk with the Seller. If they have to think about it then they are thinking about making an offer less than full price. With 6 other showings in the first 2 hours I wouldn't hold out for anyone Scott Godzyk 

Oct 04, 2018 07:48 AM #5
Ambassador
2,302,041
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Sounds like they are going to miss the boat on this one.  At least they didn't put in an offer and then change their mind.

Oct 04, 2018 08:32 AM #6
Rainmaker
1,026,929
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

It's actually a little insulting - hey, we like it but not enough to jump on it.  Sorry, you snooze, you lose. 

Oct 04, 2018 12:04 PM #7
Ambassador
2,839,137
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Scott how ridiculous! The buyers agents needs to be explaining to the buyers that they're in a sellers market and need to make a quick decision.  They've got one chance out the gate so they either take it or lose.

Oct 04, 2018 01:27 PM #8
Ambassador
3,837,459
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Scott- It's understandable that a buyer wants to be sure when they are buying a house but they also have to be reasonable. They cannot expect a seller to wait. 

Oct 04, 2018 05:28 PM #9
Rainmaker
3,053,650
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Scott... indeed, time waits for no buyer... then again, that's our current market... since everything cycles the day will come again when sellers might have to wait.

Oct 05, 2018 12:36 AM #10
Rainmaker
2,883,145
James Dray
Fathom Realty - Rogers, AR
Exceptional Agents, Outstanding Results

Morning Scott.

Wish I had a dollar for each buyer who went home to sleep on it, only to find out they lost their dream home.  

Oct 05, 2018 01:24 AM #11
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I thought the seller gving them an hour was more than they needed as they had a whole night Lise Howe 

Oct 05, 2018 05:17 AM #12
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Those that lost a previous dream home tend to act quicker and wrte their best offers Myrl Jeffcoat. I try and tell all buyers this 

Oct 05, 2018 05:18 AM #13
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Exactly Barbara Todaro , thank you for the comment

Oct 05, 2018 05:18 AM #14
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

That is a good way to put it Carol Williams 

Oct 05, 2018 05:19 AM #15
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Well said Bob "RealMan" Timm , thanks for the comment

Oct 05, 2018 05:19 AM #16
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

That is true Belinda Spillman and yes, they did miss out

Oct 05, 2018 05:20 AM #17
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I love sayng that too Susan Haughton 

Oct 05, 2018 05:20 AM #18
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

You would think that woul dbe one of the first thing the buyer agent talks about Anna Banana Kruchten CRB, CRS 602-380-4886 , but not in this case

Oct 05, 2018 05:21 AM #19
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

That is a ket word Kathy Streib , being reasonable and i add common sense

Oct 05, 2018 05:22 AM #20
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I hope not soon Nina Hollander , but it is changing

Oct 05, 2018 05:22 AM #21
Rainmaker
2,971,958
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Same here James Dray , thanks for the comment

Oct 05, 2018 05:23 AM #22
Rainmaker
3,573,227
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good afternoon James. My immediate answer after reading your title was never. Nice post.

Oct 06, 2018 11:03 AM #23
Rainmaker
528,731
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

The problem with “sleeping on it” or thinking about it is this: If you need to sleep on it, you might not be sleeping in it! Buyers need to understand their competition because the other buyers that made the offers may have already lost a property that’s they loved. They won’t  make the same mistake twice. Some buyers never learn. Thank you for the he post 

Oct 07, 2018 05:47 PM #24
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,971,958

Scott Godzyk

One of Manchester NH's Leading Agents
Ask me a question
*
*
*
*
Spam prevention

Additional Information