The Buyer is King!

The Buyer is King in Real Estate transactions. At least in my most recent transactions. I represent a buyer in one transaction and a seller in another. In both cases I am really happy that there are buyers out there. I am working with a first time buyer, I send listings to them and they go on a drive to see if they like any of the listings I send. After several groups of listings I finally hit on a couple they want to see. Once we know what they are looking for I send a bunch of listings matching the homestyle they are interested in. They fall in love with one of the listings and decide they want to make an offer. They know what they want and they know what they are willing to pay. A counter offer comes back and they look it over and say never mind. They put in an offer on another home. Another counter. No thanks. We'll just keep looking. realtor on second offer calls to see what it will take and the answer is we presented our offer, if they will accept that offer thats what it will take. Counter with original offer, accepted. Buyer doesn't have to budge. There are 20 other similar homes in the area and one of the sellers was going to accept the offer.

I represent the seller. Two to three showings a day for over a month. Offer comes in for considerably less so seller wants to counter half the difference. Buyer says no thanks, we will hold to our price and give up part of closing costs. Seller doesn't want to risk losing buyer, seller accepts. Buyers market? Yes, the buyer is King.