Believe it or not, this was posted up on a National Realtors Website as part of the strategies to use when dealing with “Buyers that are Driving you nuts!!!”
I was hoping to find the LOL – after ward – Heck, I would have even thought a LMAO would have been appropriate. However, there was nothing of the kind.
If you have an agent that is telling you that you need to do something right now and cannot wait, make sure they are pushing from the “Facts” and not opinion. Also, determine what they have to lose if you don’t step forward and seal the deal. If they have their commission hanging in the balance – you may want to re-think you relationship with them. click here to read our article on Firing your real estate agent 🙂
However, if they tell you that you better pull out of the deal. You should not write that offer, you should ask for more items to be repaired. Or that you should walk from the deal, you may realize something much different. It could be that your Realtor is 100% on your side and wants the best for you and is watching your back like a seal team member watches his brethren.
When approaching homes that are for sale, I cannot help but wonder sometimes how the agent with the listing obtained the sales price. Did they see data that I did not? Did I miss something? Why was the home that they had listed so expensive? Looking at price per square foot – this just happened in Stevenson Ranch with a couple of our clients. We looked at a home that was priced at about 1 and 1/4 million dollars. However, this home, according to the square footage, condition and upgrades was 300k over priced.
The view was stellar and I would venture to say that the home was almost “one of a kind”. I would also venture to say that the inventory with regard to any home, including one of a kind homes, is poor to say the least.
However, did this home need to be priced at 300k over the comparables? Maybe in the sellers eyes. Maybe the Realtor expressed to them they could get that amount. Will that agent be able too or did they “buy the listing” from the owner by over promising? – They could if there was a no appraisal contingency for the buyers approaching the plate with a suitcase full of money. – Or at least a buyer with 20% down that wanted to make up the difference in Cash and stated within contract they’d waive the appraisal.
However, when my clients wanted to offer much less than the “asking price” on this home, I could not fault them. Heck, if they wanted to offer full list price, I would have faulted them. I would have told them that I am dead set against offering full list price for the home. Especially in an unsure and unstable market.
Back in 2004, we had clients that offered more than list price on a home in Burbank. They had our blessing to do so. The home was priced at $400K and they offered $550K. Knowing what the market was doing and how it was increasing, I was sure this would have been a great investment and it was. In fact, we sold that very same home in late 2006 for over 715k. Sometimes, it’s okay to offer more than list price – you just have to get a game plan together to do so and the stars definitely need to be in alignment 🙂
When do you hold them, when do you show them, when do you walk away and when do you run? If you did not get the reference, the questions were from a song by Kenny Rodgers.
When you are getting unverified pressure from your real estate agent that is making you feel uncomfortable and when it becomes a “Do or Die” scenario – Run. Make sure you are getting the best advice possible. Make sure your trusted Realtor is on your side 100%. And feel free to do some “Testing” occasionally when dealing with your Realtor You may see something that will influence a decision that will keep you safe from harm.