NEVER GIVE UP TOO SOON

By
Real Estate Agent with Coldwell Banker Lake Tulloch

Talk about real estate deals these days..............Get this...............I spoke to an owner of a lake view lot ( a potential seller/listing. ) They wanted a price to list their lot.  I flat told them in this market it needed to be under $100,000 in order to get anyone to look at it.  Can you guess where this is going???????

I listed it for 195,000.  Some say it is a waste of everyone's time.  Well, I love a challenge and I am willing to work hard to keep clients and to get referrals and repeat business in the future.

A couple of weeks go by and low and behold.......an offer comes in.  An e x t r e m e l y LOW offer compared to the asking price.  I can't get into actual figures since it is still in escrow...due to close very soon.  My seller countered reluctantly (verbally).  The Buyers were firm.  About a week later after the offer had expired my Seller came back to me and countered a little lower (verbally).  Buyers were firm.  I think it happened one more time.  Buyers finally came up slightly AND we opened escrow.

The moral of the story is......WORK YOUR DEALS.  THEN WORK THEM SOME MORE.  NEVER GIVE UP TOO SOON.  LET YOUR CLIENTS KNOW THAT EVEN IF THEY GET A LOW OFFER THEY ARE THE LUCKY ONES IN THIS MARKET.  WORK IT...WORK IT....AND WORK IT SOME MORE.SOLD BY COLDWELL BANKER LAKE TULLOCH

 

Comments (32)

Cecily Parks
iMove Group, Knipe Realty NW, Inc. - Salem, OR

Great post. Just goes to show you that we need to look at things differently and work all of our leads even if they don't seem viable in this type of market. Thanks for sharing a success story.

Oct 26, 2008 03:50 AM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

Cecily.......Thank-you for your comment.  I am also trying to negotiate with a past Seller and a potential Buyer that has shown interest in the same property several times over the past year and a half.  The property is not presently listed.  We are closer now than we have ever been.  I won't give up on this one.

Oct 26, 2008 04:18 AM
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Sounds like it worked out, which is great.  You never want to just pass up a deal, unless it is extremely ridiculous.  Congrats!

Oct 26, 2008 12:35 PM
Leslie Stewart
Oregon Licensed Broker with Berkshire Hathaway HomeServices Real Estate Professionals - Stayton, OR
Realtor, ABR, CRS, Oregon Licensed Broker

It's the nature of real estate isn't it?  Way to stick with it.

Oct 27, 2008 04:35 PM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

John....It closed escrow for 90,000 today.  The asking price was 195,000.  Big difference.

Oct 28, 2008 09:20 AM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

Leslie........Yes, it is the nature of the beast right now.  Good thing there is really a real estate God.

Oct 28, 2008 09:22 AM
Denise Williams
Benchmark Realty - Brentwood, TN

Never burn a bridge; we never know when we may have to walk back over it! Good Luck!

Oct 28, 2008 02:17 PM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

Denise......Thank-you for your comment.  My escrow closed today for 90,000!!!!!!!

Oct 28, 2008 02:30 PM
Robert Vegas Bob Swetz
Las Vegas, NV

Roxanne, I have some news for you sweetheart.................

                                                   This ones for you Roxanne, geat job!    Featured!

Oct 28, 2008 05:53 PM
David Saks
(retired) - Memphis, TN

Good for you, Roxanne. Perseverance, tenacity and reason all played a vital role in the transaction.

Oct 28, 2008 07:01 PM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

Robert.......Love the picture.......Just Love it!!!

Oct 29, 2008 04:17 AM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

David....thank-you for your vote of confidence.  I really did work hard on that one, not that I don't on all of them, but reason really played a role this time.  You hit it on the head.

Oct 29, 2008 04:19 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Roxanne - Thank you very much and " Happy Halloween " to you and your family!

Oct 31, 2008 05:48 PM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

Robert....Thank-you and I hope you had a fun and safe Halloween.

Nov 01, 2008 05:37 PM
Cherimie Crane
Cherimie Crane & Associates - Beaufort, SC

Yay! Roxanne! Good for you. Persistence is key....to just about everything.

Nov 02, 2008 12:10 PM
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

Cherimie......What a gorgeous name!  Thank-you for stopping in and voicing your opinion.  I appreciate that.

Nov 02, 2008 12:17 PM
Melody Weaver
Coldwell Banker Residential Brokerage~A Premier Office - San Marino, CA

Great for you Roxanne!  I can tell that you love your job because you worked it, baby!

P.S.  I need help inserting pics into my blog..can you call me or email me if you have time?

Nov 06, 2008 09:33 AM
Lynn Krogseng
Keller Williams Premier Partners - Vancouver, WA

Okay - so part one, I don't want to take an overpriced listing because I believe it is a disservice to the seller. It's like giving them false hope.

Part two - well, your post made me consider two more points - the seller wanted to sell.  Your task was to help them sell, and even though the listing was priced over the market, you've gotten the seller into contract.  Thus, you did what we all are supposed to be doing - helping a seller sell and a buyer buy.  I think I will consider pondering my position on over-priced listings....

Nov 06, 2008 11:32 AM
Christina ONeal
At Home Real Estate Group - Ripon, CA
Realtor - Ripon California

I love it.  I agree with Lynn.  I normally don't take overpriced listings.  Well, I just did it 2 days ago.  My agreement with the seller was to revisit our price every two weeks & adjust as necessary.  Congratulations to selling it :)  By the way, I love Lake Tulloch :)

Feb 17, 2010 12:35 AM
Anonymous
Roxanne

Christina........I love Lake Tulloch too........especially when the weather gets warmer and I am out on the Lake.  thank-you for your comment.  It has been months since i have been on Active Rain.  Real Estate is keeping me VERY BUSY these days with all the foreclosures.  Stop by and see me the next time you are in our area.

Feb 17, 2010 03:21 AM
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