If you listen, you will hear it off in the distance. "Why was my offer not accepted?" I am seeing a rash of both Buyers and Sellers seemingly doing what they want despite their agents advice. It is not new, but I see more of it here in the Manchester NH area. I have resorted to actually asking "where did you get that advice?" The answer is usually always, "online." Most will say it was on the Internet so it has to be true.
Let me give some examples I have seen from both sides of the aisle, as the listing or buyer agent. Today lets go over some HOME BUYER blunders.
Just last week, a new listing hits the market. A good ten showings the first day. A fist full offers and a seller with a smile ear to ear. However not everyone was happy. There was a couple of home buyers pretty ticked off. The first was ranting and raving why his offer was not accepted.
Well, lets take a look. The buyer made a quick offer, so why was it not accepted. First off, they did not include a pre approval letter, not even a basic pre qual letter. Secondly, they offered a good $30,000 less than asking price. They also asked for the seller to pay 3% of the buyers closing costs. But wait, they also asked for the seller to leave the lawn tractor, hand mower and not to leave out the full dining room set. That my friend is why your offer was rejected when 4 others were at asking price or higher. His response was the Internet told him to start low and ask for everything.
The Second Home Buyer was just as upset. No, there offer was not rejected though. They did not get their offer in because they wanted to wait to think about it. Their Internet advice was not to rush into anything. Their Internet advice was wrong. The correct advice would be to be prepared in a market with a shortage of homes for sale, to be ready to buy when you see a home you love.
In our last story, there was another buyer. They made a full price offer on a different home. It was contingent on a home inspection. The inspection went really well, so it was a great surprise when the buyer wanted the seller discount the home $35,000. Lets peak at their list. The roof has a 25 year life. The home is 13 years old. They wanted the seller to credit them for half of a new roof for when it needs it. (in 10-12 years). They used the same logic with the furnace. They added in for a future septic as well. The seller not only said no, he threw the buyer out of his home when they rang the bell to ask why they would not credit them anything.
that short cuts, schemes and Internet dreams do NOT work.
That every Buyer or Seller should not choose just any agent, choose the BEST agent for the job. Having an agent that works for you is a must.
My philosophy is simple, provide more personal and professional service to guide my 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. Those that hire me, find a dedication like no other.