I've never seen such unrealistic buyer expectations as I've been seeing in the last few months. I keep telling buyers who want a "good deal" that the best way to achieve that is to find a property that's already priced aggressively--not to make an offer at 70% of the asking price! If sellers were that motivated they'd have already lowered their price to something near that number. In fact, I ran some stats for a recent buyer that showed nearly all listings in his area of interest had sold for better than 90% of asking price, and in fact NONE sold below 85%. I certainly hope we do not see the day when negotiating 30% off the asking price is considered acceptable!
Coldwell Banker Apex - McKinney, TX
Coldwell Banker Apex, Texas
Robbie,
I agree, that why it is our job to continue educate our clients on the market. They will start to understand when you submit those types of offer and do not get a response back.
Jun 06, 2008 09:11 AM
RE/MAX Top Properties - Coal City, IL
Grundy/Will County, IL REALTOR
Tough to say what's a good percentage to offer or not...if a seller has a house that is REALLY worth 300k listed at 400k, a 70% offer 280k or 20 grand lower than it's worth) wouldn't seem too ludicous to the ultimate goal. The problem with final selling stats is that if you're too far overpriced you rarely will see any offer (because sellers then moan and feel insulted by lowball offers)....so you start to see the offers come in when the price is reduced.
Now, I'm in your boat if a property is priced well (or well enough). There's little sense in even sitting down to write the offer- but we work for the client so have little choice if that's what they REALLY want to do.
Jun 06, 2008 09:22 AM
RE/MAX Services - Highland Beach, FL
Boca Raton Agent David Serle
We have been receiving some pretty low offers, but I still work with anything that comes in, and I try an put the deal together. Sometimes the buyers feel like they have to give it a shot, but are still serious buyers so I always make sure to have my sellers counter even if it is not much.
Jun 06, 2008 09:24 AM
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