Admin

If You Like It, Make An Offer

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

Have you had a buyer who was surprised and even shocked to find out that a property they had been watching went under contract? They were sure it would not sell quickly and wanted to wait a bit.

No matter what kind of market, properties are selling, so if you see a home that suits your needs, it's important not to hesitate to make an offer.

Encourage buyers to submit a bid even if there is a concern about insulting the seller or the other agent. A contract should not be considered an insult but a starting point for negotiation. Remember that a buyer's agent works for the purchaser, and the seller's agent works for the owner.

Preparing and presenting a net sheet showing the seller's proceeds is key to the negotiation process. It would be best if you prepared a couple of net sheets:

First:

In a perfect world, this one would show a listing price with no contingencies, and the seller could choose a settlement date.

Second:

This one shows the actual offer in the real world. It is the offer we have to work with.

From there, provide what the proceeds would look like with various negotiations. 

Always include the good and not-so-good points, such as price, date, contingencies, financing, and what the seller has to work with. Negotiating can be a complex process requiring much experience and skill. Sometimes, it's about price alone, while other times, it's about terms, timing, possession, repairs, or exclusions.

And frequently, it's a mixture of all these things. Remember, negotiations don't start until someone makes an offer. So, to all buyers and agents, don't worry about making an insulting offer. And please don't say you don't want to waste time.

Remember, the seller has two choices: accept or reject. A counter is a rejection and allows the buyer to walk away.

The goal is to negotiate a fair deal for you, the client.

 

Note: the buyer's agent works for the purchaser, and the seller's agent works for the owner.

Buying or selling a home

Call Margaret Rome

 

 

Posted by

Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


Sell Your Home With Margaret Rome

Radio Host ALL ABOUT REAL ESTATE
Sundays 12 noon.

Author: Real Estate The Rome Way

About me
My blog
My website
My radio podcasts

(410) 530-2400
CALL OR TEXT

EMAIL ME

George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Margaret the only bad offer is the offer that is not made.

May 08, 2024 02:23 PM
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Hot enough for ya?

If you like it you shoulda put a ring on it.

May 08, 2024 03:09 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

How many times do we see this?? A buyer really likes the house and waits. I always tell them if you really like it you can bet other buyers do too! I always tell my sellers they have three choices when an offer comes in Accept, Reject, or Counter. I tell them its negotiation time!! There are some offers that come in  are total Rejects and will will write in big bold letters in red REJECT! But some you can really look at as a starting point and let the negotiations begin!

May 08, 2024 04:00 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

That is a perfect example of the saying: He who hesitates loses.  If the buyer's agent does a little work to arrive at a reasonable price, the offer should not be an insult.

May 08, 2024 05:03 PM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

 If you like it, make an offer...or put a ring on it!

May 08, 2024 08:37 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Margaret - while I understand the importance of rest and reflection, it's also important to remember that snoozing can lead to losing.  That's not a mixed message but one where combining thoughts come into play.  And while real estate is not a game, the competitive aspect of it can't be ignored.  

May 09, 2024 02:50 AM
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

I just recently had a farm for sale that went under contract, two other agents who told me they were going to do something dragged their feet on getting their Buyers to make an offer. The Sellers liked the terms of the first offer and decided not to wait, both of the others are now putting in back-up offers. Moral of the story , you snooze you loose.

May 09, 2024 03:44 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

The saying, "If you sleep on it, you won't sleep IN it" rings true!

May 09, 2024 05:21 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Margaret- it's as simple as that. If you like it make an offer. When looking for a home in 2004 in Northern VA, it was difficult. Once, Larry had me pull up a listing (I was still in FL) He'd viewed it. He said if you like it, I'll make an offer. 

May 09, 2024 05:22 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Margaret,
Knowing how quickly a property will (or won't) sell is impossible. If you like it, make an offer.

May 09, 2024 09:37 AM
Roy Kelley
Retired - Gaithersburg, MD

Prospective home buyers who select a waiting mode will often miss some opportunities.

May 09, 2024 11:16 AM