Either the owner or agent doesn`t want to sell.

By
Real Estate Agent with Optimar International Realty

After going back and forth for the past 6 days with an offer i finally told our buyer that it`s impossible to get the seller to budge from their asking price. The buyer is ready to move forward, the offer is strong, great terms, no contingencies and we can close in less than 30 days. Problem is the seller refuses to come off the asking price of $435,000.

The comps are running closer to $425,000, which is our offer. The sellers agent who`s been around for a long time and maybe just a bit too long feels that the seller is justified in their asking price and her feeling is that $435K is the only price the seller should receive.

In many cases i understand that an owner of a home can get too attached to a home, but in this case, the Realtor representing the seller has made little or no attempt to assist in closing this transaction. It`s not like she has 3-4 offers for this home. My associates feel that she`s looking to sell the listing herself, which is part of the issue. The buyers don`t want to comply with the sellers wishes of a long term closing date either, so it`s just as well. It`s hard to understand that in a buyers market, the seller hasn`t been advised properly. It`s a shame that another Realtor would make little or no attempt to  want to close.

 

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Comments (5)

Carlos "Chaz" Mena
RE/MAX Premier Associates - Weston, FL

Erika,

I think you are correct, although we would all like to have the opportunity to have both sides of a deal, you have to provide good service to your client. I don't know if you know this or not but real estate laws in Florida allow you to present your own offer directly to the seller. I think you should try this tactic, if the Realtor says no you can reprot him to FREC.

Chaz Mena
Remax Hometown
954-804-1284

 

Aug 30, 2006 07:26 AM
Omar Camejo
Florida List For Less Realty,Inc. - Ocala, FL
Actually it`s easier to file a complaint with your local board.. 
Aug 30, 2006 07:42 AM
Teri Isner
Keller Williams Realty at the Lakes - Orlando, FL
GRI, CRS, CIPS

Something is going on here.  Have you specifically asked the other agent if there are any other offers?, and if she presented the offer.  Ask your buyers to write a letter to the seller expressing why they would still like to move forward on the house and could they meet each other half way? ( if this works for them as it won't add that much to the payment)  Be sure to put salesprice or appraisal whichever is less in the contract if the comps are coming in at 425.  Some sellers are just stubborn though and it is frustrating as dickens to deal with them.

Aug 30, 2006 09:50 AM
Alexander Harb
Knights Investing - Mesquite, TX
Dallas, Texas Real Estate Investing

Erika,

I think one word sums it up best in this situation....Greed.....plain and simple........

Aug 30, 2006 11:00 AM
Eddy Martinez
Nationwide Funding Group - Highland Park, CA
Like Mr.Harb said its just a greedy agent.................
Sep 24, 2006 07:17 AM