Could you be doing something wrong if all your offers get out bid?

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

It is time for some hard talk if you are looking to buy a home and sellers keep choosing an offer other than yours. I am hearing from multiple buyers who keep getting beat out. The bottom line is two fold. You have to make better offers and get better advice. 

 

It starts with your buyer broker. They are notall created equal. YES, it does matter who you hire. 

 

I went on with my life listing and selling homes for happy clients when i got another call from this seller. His sale was falling apart and he needed help. He remembered something I said, "that the hardest part of real estate is getting the sale to close after accepting an offer."

 

"What went wrong?" he asked me. I heard him out despite his hanging up on me just 2 weeks prior. He sold his house "way under" what I told him it was worth because it was suppose to be a quick sale. The buyer had a home inspection after saying he did not need one. But it was on the contract, and the seller did sign it. The buyer agent had a list a mile long. He could not fix all this. The buyer asked for $50,000 off the price in lieu of repairs. But it was a quick closing so he agreed. 

 

Then came the clincher. Quick was not so quick as the buyer has a house to sell. It said 30 day closing but in the comments, it states 30 days after buyers commitment of the sale of their home. SO no quick close is coming.

 

 

IN SUMMARY, the price he agreed to was $75,000 lower than he would have received using me as a listing agent. He would have not been advised to accept such an offer. He also would not have signed anything without reading it. In his haste to save money on a near million dollar home, he finds himself losing money and in a perpetual delay. 

 

IN THE END: I gave him an option to list now and have me review this offer. To either get it closed or end it working with his lawyer. The moral of the story is a great listing agent like me works to go over every aspect of the selling process to try to avoid these stress full situations. Not to mention get the best possible price in the quickest amount of time. 

 

I leave you with my infamous thoughts, 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.

 

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 34 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. 

 

    

 

 

 

We stand by you through every step in selling your home
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Topic:
Home Buying
Location:
New Hampshire Hillsborough County Manchester
Groups:
"Whacked"!!!
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

There are agents here who are encouraging their buyers to use this strategy, and it's working, offer above price, cash, and no contingencies.  I just had a seller accept such an offer - 30K above the listing price. No appraisal either. No wonder they are beating out the usual offers with built in protections such as an inspection addendum. 

Jul 04, 2020 02:25 PM #1
Rainmaker
2,749,016
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

The cleaner the offer is written, the better the price, and the fewer contingencies, the better!

Jul 04, 2020 04:38 PM #2
Rainmaker
2,749,016
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Scott, on having this blog FEATURED in the Old Farts Club group!  

Jul 04, 2020 04:38 PM #3
Rainmaker
2,877,911
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Scott,  A case of mistaken identity - a seller thinking/believing they are qualified to sell their own home.  

Buyers need to understand what the market is doing - clean offers on the best possible terms are what gets an offer accepted. 

Jul 05, 2020 08:40 AM #4
Rainmaker
2,877,911
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Scott, The seller wants your advice and help yet he still does not want to list with you so that you can help him resolve the situation? 

Jul 05, 2020 08:42 AM #5
Rainmaker
5,821,314
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is a very good story to share.

Have an outstanding week.

Jul 06, 2020 02:40 PM #6
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Rainmaker
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Scott Godzyk

One of the Manchester NH's area Leading Agents
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