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.
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My name is Roxanne Schilling and I am a Realtor "COLDWELL BANKER LAKE TULLOCH" in Copperopolis. I am partnered with my husband, Roger Schilling, also a Realtor with the same Company.
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I agree with you 100% you never know what is going to sell!!! plus you have your name there for people to see, congratulations
Robert........Thank-you for reading my post.
Roxanne~ In this market or any market, we have to work it and try to make it work! You never know what a seller or a buyer will really do!
Cool! I like it when a deal comes together...
Good advice! thanks for sharing your experience.
I agree, but I have sellers that refuse to counter and they beg me to show their house. I am not sure what they want an offer or to stay where they are.
Vickie.....I totally agree but I think a lot of agents need to be reminded when they used to work sooooo hard. It is a wake up call.
Bubba.......I thought it was pretty cool too. I was proud of myself even though I had to pay the Seller back a 25% referral (he is a licensed agent/lender) and I dropped from a 10% commission to a 9%. I looked back on the transaction when the Sellers purchased the property in 2002 and I made a bigger commission then at a lower purchase price. Oh well, I have sold the same property three times now as long as this one closes.
Li.......thank-you for your comment.
Jane......what was the offer? My Seller was not going to counter either. That's why I suggested just a verbal response. I tell them that I have put deals together before that were 80,000+ apart. Tell your Seller the Buyer is just fishing. Or go back to the Buyer's agent and tell her to see if her Buyer will reconsider and just come in a little higher. Sometimes just waiting several days in between gives the buyers and sellers time to think. They sometimes come back to you.
Roxanne - Thank you for the post and great job, I hope you get a commission check out of the deal and the lender or bank doesn't kill the deal. Cross your fingers and I am glad to see your back. Did you read my post about AR members coming to Las Vegas?
Robert A. Swetz.......It is an all cash transaction. What day did you post it. I'll have to check it out. but the timing is just not right for me. I would love to come sometime. My youngest daught will be there over Thanksgiving. Her boyfriend's sister lives there.
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.
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.
Sounds like it worked out, which is great. You never want to just pass up a deal, unless it is extremely ridiculous. Congrats!
It's the nature of real estate isn't it? Way to stick with it.
John....It closed escrow for 90,000 today. The asking price was 195,000. Big difference.
Leslie........Yes, it is the nature of the beast right now. Good thing there is really a real estate God.
Never burn a bridge; we never know when we may have to walk back over it! Good Luck!
Denise......Thank-you for your comment. My escrow closed today for 90,000!!!!!!!
Roxanne, I have some news for you sweetheart.................
Good for you, Roxanne. Perseverance, tenacity and reason all played a vital role in the transaction.
Robert.......Love the picture.......Just Love it!!!
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.
Roxanne - Thank you very much and " Happy Halloween " to you and your family!
Robert....Thank-you and I hope you had a fun and safe Halloween.
Yay! Roxanne! Good for you. Persistence is key....to just about everything.
Cherimie......What a gorgeous name! Thank-you for stopping in and voicing your opinion. I appreciate that.
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?
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....