Bold Buyers Bag Big Bargains


Bold Buyers Bag Big Bargains
By Scott Rogers • December 13, 2009
I recently wrote a post entitled "Is it logical for a buyer to want 10% off of a "fair" asking price in today's economy?" where I concluded: There is nothing wrong with wanting to negotiate 10% off an asking price, or with making offers given such logic. But such a buyer should know that they may have to make an offer on ten or more properties before they find a seller willing to negotiate 10% or more below their asking price. Yet even given that perspective, there are deals to be had in the current real estate market --- and the buyers who are making aggressive offers are usually the ones finding the great opportunities. Here are the factors at play: Most homes sell very close to their list price, which prompted the original question: Is it logical for a buyer to want 10% off of a "fair" asking price in today's economy? Many buyers are hesitant to make offers too far off the list price, causing me to describe them as bashful, even way back in February 2008. There are plenty of houses where the seller just won't budge much on price, because they have priced it very close to their bottom line to be competitive. It's difficult, after all, to Price Competitively, But With Room To Negotiate, which causes The Home Pricing Conundrum: Increasing Traffic At The Expense Of Reasonable Offers So, again -- most homes sell close to their asking price, but even if a list price has flexibility you need a buyer --- and most buyers are hesitant to offer too far below the list price, but even if they did make an aggressive offer --- most sellers won't budge too far beyond their list price. Thus, the stars must align --- a buyer must be willing to make an aggressive offer on a house that just so happens to have a seller who is ready to be overly flexible with their price. The natural question here is whether this actually ever happens. It does! But here's how --- these buyers who want to find that "great deal" often have to make offers on multiple houses before they find the one where the seller will be flexible. My advice to ALL buyers is to go ahead and make the offer that you think is reasonable, even if you are pretty sure the seller won't take it, and even if you aren't going to then skip around to house after house to find someone who will take your aggressive offer. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
Comments (0) or Subscribe