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Our agent has been great for us in buying and selling.I am not fully understanding what you are saying about the selling agent.
Agents refer to the "selling agent" as the one that brings the buyer, thereby causing the sale of the home. In this case, the selling agent is your agent. The listing agent represents the seller.
Agents refer to the "selling agent" as the one that brings the buyer, thereby causing the sale of the home. In this case, the selling agent is your agent. The listing agent represents the seller.
Ok ,i have never referred to our realtor acting on our behalf in buying a home as a "selling agent" before. I always thought the listing and selling agent wer the same. person You learn something every day..
Anyway we are submitting a much stronger offer,after learning about the condition of the comp's and the seller getting back to us saying from which price point they are willing to entertain offers.
Our agent has been great for us in buying and selling.I am not fully understanding what you are saying about the selling agent.
While it might seem confusing, the selling agent is not the agent that is listing the property for sale except in one circumstance. Whether the agent is the listing agent or the selling agent is determined by which part of the transaction the agent recommends. The selling agent is the agent that represents the buyer that purchases the property, or the buyer's agent. If he listing agent brings the buyer, he/she then is both the listing agent and the selling (buyer's) agent.
So, your agent would be a listing agent when you put your house on the market and the selling agent when representing you as a buyer, or, lacking a buyer's agency, when providing the service working with a customer.
This seems to be the new strategy, especially with foreclosures but also with normal sales.
People dramatically drop the price and then let it turn into a bidding war.
I was looking at foreclosures. Seems like everyone caught onto this strategy at the same time. I saw plenty that were overpriced at about 120k. Several dropped the price to around 72k and then interest started comming in, they then would ask for best offers and would wind up getting about 100k-115k.
Strategy seemed to work. I dont know what would have happenned had they justdropped from 120k to 110k but this seemed to work well as offeres poure din.
You have to be absolutely firm on what you can afford and what you will pay for a given type of house or property. If the seller's agent is indicating that you are going to have to exceed that you need to walk.
I personally wouldn't do bidding wars. If I was told there were competing higher bids I would walk away because I suspect most times this is just a bs tactic to get buyers to overpay.
Remember, that you aren't a homeowner until you pay a house off, but a LOANOWNER. If you got to go into debt do it as efficiently as possible and don't get emotionally involved in the process. Think of it as a business deal (cost/reward) and you will be better off. Renting is the safest option right now anyway unless you are looking in a market like Las Vegas, which is priced less than rental parity right now.
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