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When I was looking I now see how shady the re agents are. I liked a house n put in an offer they told me there were two other offers and I was in the middle. I passed on increasing my offer but the house is still on the market and at a lower starting price. Looking back I feel the agents were tryin to cheat me hopin I would offer higher and increase their commission
It's not just the numbers today. It's which offer actually has the best chance of closing. I will often recommend an offer to a seller that is not the highest dollar amount. Some of the things that I take into consideration:
Amount of down payment. The bigger the better. And, the more at contract the better.
What does the buyer do for a living? Is a job in a stable industry?
Strength of Pre-Approval. (Is it a pre-qualification or a pre-approval? Who is it from?)
Who is the showing/selling agent? Is it someone who I know and trust?
What is the buyer's current living situation? Do they have another house that needs to sell or close before they can buy? Do they have a lease? When does it expire?
As for trying to boost the price a couple of thousand for the commission increase, that makes no sense at all in todays market. I'd rather have a lower commission then no commission.
Stay on topic. Attempts to hi-jack threads by switching topics or going off topic will be deleted and infractions issued. This is not a chat room - when people hi-jack threads by posting messages that are of interest to only few people, the threads often stop being useful discussions of initial topics.
Stay on topic. Attempts to hi-jack threads by switching topics or going off topic will be deleted and infractions issued. This is not a chat room - when people hi-jack threads by posting messages that are of interest to only few people, the threads often stop being useful discussions of initial topics.
Interesting I guess talk on one topic shouldn't lead to another. So much for free speech on this forum
The other thing is, having been through this as a seller, buyers show up and disappear. Some agents bring back people who LOVE the house, think its the best, tell my agent that we're going to see something in writing soon at X price, and then they find another house to fall in love with, or the wife's parents kill the deal, or the financing situation falls apart. I guess my point is, there are a lot of reasons why an "offer" doesn't go to contract, and why a contract doesn't go to close and in a lot of cases, its not lying.
Yes this is true...we had 3 offers on our house last year, 2 of them were "in the ballpark" - the 3rd offer outbid the 2nd and the 2nd declined to come up. I asked REA just out of curiousity why the 2nd wasn't bidding again and he said "they moved on to (another nearby street)...when all was said and done they didn't buy that house either because 1) the girl's father didn't like it (needed too much work) and 2) it didn't have COs for too many things and the financing wouldn't go through....so the deal never went to contract. For another measly $5,000 they could have had our house, but at the time we closed they were still looking.
Also agree with Tom's post above - ultimately our buyers were attractive because their REA knew our REA very well which helped with trust issues all around and getting the deal done, they had 30% down, her job almost guaranteed a mortgage etc etc. So it's not necessarily ALL in the buyer's favor. If a person is selling their house these days, chances are they want to squeeze out every penny they can from the sale and behind the scenes may be picky about who they deal with if it doesn't seem like a "sure thing" (rightly or wrongly). Most people aren't going to the trouble of putting their house on the market "just to see what I can get" - it's unfortunate if the REAgents involved are not playing along and some buyers are apparently having trouble. I do have to say that I had a great experience with both REAs involved when we sold our house....both top notch.
Yes this is true...we had 3 offers on our house last year, 2 of them were "in the ballpark" - the 3rd offer outbid the 2nd and the 2nd declined to come up. I asked REA just out of curiousity why the 2nd wasn't bidding again and he said "they moved on to (another nearby street)...when all was said and done they didn't buy that house either because 1) the girl's father didn't like it (needed too much work) and 2) it didn't have COs for too many things and the financing wouldn't go through....so the deal never went to contract. For another measly $5,000 they could have had our house, but at the time we closed they were still looking.
Also agree with Tom's post above - ultimately our buyers were attractive because their REA knew our REA very well which helped with trust issues all around and getting the deal done, they had 30% down, her job almost guaranteed a mortgage etc etc. So it's not necessarily ALL in the buyer's favor. If a person is selling their house these days, chances are they want to squeeze out every penny they can from the sale and behind the scenes may be picky about who they deal with if it doesn't seem like a "sure thing" (rightly or wrongly). Most people aren't going to the trouble of putting their house on the market "just to see what I can get" - it's unfortunate if the REAgents involved are not playing along and some buyers are apparently having trouble. I do have to say that I had a great experience with both REAs involved when we sold our house....both top notch.
TY for sharing your experience with selling. I agree that usually when REAs say that there are other offers they are not lying, but deals fall through frequently.
However from personal experience (knowing people with houses for sale), I do come across many people with this exact attitude:
Quote:
Originally Posted by Darldan
My advice is to buy now. I am getting ready to sell my house on Long Island and having seen the value drop quite a bit, I am not going to lower it any further. I'll put it on the market and if I get my price, I'll sell. If not, I'll wait it out. I am not in a rush fortunately. The market will rebound as it has done many other times. We may not see values as we did during the "bubble" but they will eventually go up. If you are able to buy now, you are in an extremely fortunate position. Mortgage rates have never been this low and houses are undervalued. I don't understand why the real estate industry isn't using mass advertising to get this point across. Buyers think homes will be even lower next year but sellers just are not going to give their houses away.
Then they actually wonder why their original REA is not showing their house much (or at all) and the only people coming are from multiple listing (meaning REAs that don't know them) and even those people do not return with more buyers looking for homes.
"I'll put it on the market and if I get my price, I'll sell. If not, I'll wait it out"
having been through the home sale process.... I think they are gluttens for punishment. It was a lot of work to sell my house and i mean with a RE agent. Making sure the house was show ready when we left for the day, primping for the showings, making sure things were in order all the time... then the showing calls etc... the million questions some good, some really stupid.
Love the poll...and would love even more to see the results in 2006, 2007, 2008, 2009, 2010....lots of folks thought howmeownership was a postiive experience and that those years were the time to buy. "Best long term investment"...now that is priceless...I guesss it depends on the meaning of 'long term'
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