Are selling agents part of the problem?

[Wrangler]

JWM,

I don’t mean I gave a price above the offer, but there are people out there would pay more because they want to get the house. Just like what I just experienced. Then if this go through, the neigherhood price will be droven higher. Am I wrong about it?

It is frustrated to decide how to make offer.

[raptorduck]

I think it is good advice to write an offer anyway. I will be firmer about that. I note that I often hear agents say that if you want to write a low ball offer, it my upset the seller too much so you should test the waters first. I don’t think this was such good advice as I once did. We all learn and I am still learning how to do this buying thing.

Some of these sellers though, 100, 200, 300 days on market and not a single price drop. I figure if you let your house be for sale that long, you are rich and don’t need the money anyway and it is probably your vaction home anyway.

[raptorduck]

I think it is good advice to write an offer anyway. I will be firmer about that. I note that I often hear agents say that if you want to write a low ball offer, it my upset the seller too much so you should test the waters first. I don’t think this was such good advice as I once did. We all learn and I am still learning how to do this buying thing.

Some of these sellers though, 100, 200, 300 days on market and not a single price drop. I figure if you let your house be for sale that long, you are rich and don’t need the money anyway and it is probably your vaction home anyway.

[JWM in SD]

Ah, I see what you mean now. Yes, that is what happened in the run up in 03 to 06.

[JWM in SD]

Ah, I see what you mean now. Yes, that is what happened in the run up in 03 to 06.

[VoZangre]

Learning Curve….

This confirms alot of what I am thinking via all the information I have been processing these past two months…

vewwy intewesting!!

[VoZangre]

Learning Curve….

This confirms alot of what I am thinking via all the information I have been processing these past two months…

vewwy intewesting!!

[justbought]

I’ve had an offer that was verbally accepted by seller’s agent (“we have a deal” was the phrase), which was then turned down by the angry seller 2 hours later. You’d think that the agent would ask the seller before making such decisions…

[justbought]

I’ve had an offer that was verbally accepted by seller’s agent (“we have a deal” was the phrase), which was then turned down by the angry seller 2 hours later. You’d think that the agent would ask the seller before making such decisions…

[raptorduck]

When writing an offer, I mean a low ball offer. The point earlier on offers helping push up prices and creating a bidding situation I agree with. That is why one of my rules is to immediately withdraw if another offer is comming in. Or that was one of my rules.

What I think now is that it would have been good to write a low ball offer anyway, if that is what my offer really was. If another offer is really in, they will just ignore mine and it should not push the price up. If they were bluffing, they have mine on the table and even if they reject it, at least they know have a better idea of what the market will offer for the house. At some point, as would have happened in the cases I described, the seller will see that my offer was actually the best one they had, after it is too late of course.

Either way. I have a price I am willing to pay for each house and I stick to it. Where that falls compared to the asking price or what the seller is willing to accept I can not control, so to speak.

If I find the house I want listing at the price I am willing to pay for it, I will pay asking. If I think it is slightly under priced, I will pay above asking to get it. I did that once, or tried to anyway. But once the seller wants more than I am willing to pay, I need not play games, I just move on. With this kind of inventory, I can afford to.

[raptorduck]

When writing an offer, I mean a low ball offer. The point earlier on offers helping push up prices and creating a bidding situation I agree with. That is why one of my rules is to immediately withdraw if another offer is comming in. Or that was one of my rules.

What I think now is that it would have been good to write a low ball offer anyway, if that is what my offer really was. If another offer is really in, they will just ignore mine and it should not push the price up. If they were bluffing, they have mine on the table and even if they reject it, at least they know have a better idea of what the market will offer for the house. At some point, as would have happened in the cases I described, the seller will see that my offer was actually the best one they had, after it is too late of course.

Either way. I have a price I am willing to pay for each house and I stick to it. Where that falls compared to the asking price or what the seller is willing to accept I can not control, so to speak.

If I find the house I want listing at the price I am willing to pay for it, I will pay asking. If I think it is slightly under priced, I will pay above asking to get it. I did that once, or tried to anyway. But once the seller wants more than I am willing to pay, I need not play games, I just move on. With this kind of inventory, I can afford to.

[SD Realtor]

Raptor I have been out of town and just got back…

First off… ALWAYS PUT THE OFFER IN WRITING!!! No matter what your agent tells you, or what the listing agent tells you, or no matter what anyone tells you…. put it in writing. If it is not in writing it is not an offer. Period and there are no fuzzy areas here.

Per Rustico’s post submit backup offers to the homes you are interested in if YOU REALLY WANT them. If you have done your due diligence and seen them, then yeah give it a shot. Note that submitting a lowball offer as a backup lends itself to a low probality of acceptance but it cannot hurt and is painless to do.

As to why none of the other properties you were interested did not pan out… well they never had offers submitted. Just make sure that you tell your agent, okay I like this property let’s write something up. Be firm, and it will happen. The agent works for you, not the other way around.

SD Realtor

[SD Realtor]

Raptor I have been out of town and just got back…

First off… ALWAYS PUT THE OFFER IN WRITING!!! No matter what your agent tells you, or what the listing agent tells you, or no matter what anyone tells you…. put it in writing. If it is not in writing it is not an offer. Period and there are no fuzzy areas here.

Per Rustico’s post submit backup offers to the homes you are interested in if YOU REALLY WANT them. If you have done your due diligence and seen them, then yeah give it a shot. Note that submitting a lowball offer as a backup lends itself to a low probality of acceptance but it cannot hurt and is painless to do.

As to why none of the other properties you were interested did not pan out… well they never had offers submitted. Just make sure that you tell your agent, okay I like this property let’s write something up. Be firm, and it will happen. The agent works for you, not the other way around.

SD Realtor

[VoZangre]

SDRealtor’s Advice…

sounds very , well, sound.

Especially that last part.

“The agent works for you, not the other way around.”

This addresses directly an element of the psychology of buyer/seller and agent dynamic. It seems too often that persons surrender their agency to the, err, agent. ( Not writing an offer when that’s what you want, an agent creating an asking price that does not reflect the market, ad asbsurdum)

[VoZangre]

SDRealtor’s Advice…

sounds very , well, sound.

Especially that last part.

“The agent works for you, not the other way around.”

This addresses directly an element of the psychology of buyer/seller and agent dynamic. It seems too often that persons surrender their agency to the, err, agent. ( Not writing an offer when that’s what you want, an agent creating an asking price that does not reflect the market, ad asbsurdum)

[Author]

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