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Old 04-30-2018, 04:14 PM
 
167 posts, read 72,867 times
Reputation: 371

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Quote:
Originally Posted by MikeJaquish View Post
Actually, in the real world, that was one of the stupidest answers in the thread.

OP has a property to sell, and this won't make it happen.
They day I ever call you stupid, you’re free to do the same. Until then, I’d welcome that conversation face to face.

My goal selling a house is to do so for the price that I’ve established. Rejecting an offer simply because the other agent wants more money is perfectly normal - and I’d want to make sure the buyer knew it was because they did so. Not that comps didn’t support it, or repairs - but just “I want more of your money”...pound sand.

You’ve staked your claim on the side of its ok to do so.
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Old 04-30-2018, 04:18 PM
 
Location: Cary, NC
31,636 posts, read 55,374,605 times
Reputation: 30188
Quote:
Originally Posted by El Senor View Post
They day I ever call you stupid, you’re free to do the same. Until then, I’d welcome that conversation face to face.

My goal selling a house is to do so for the price that I’ve established. Rejecting an offer simply because the other agent wants more money is perfectly normal - and I’d want to make sure the buyer knew it was because they did so. Not that comps didn’t support it, or repairs - but just “I want more of your money”...pound sand.

You’ve staked your claim on the side of its ok to do so.
I did not call you "stupid." I don't think you are stupid. Just out of your league in discussing real estate in a mature manner.
Your advice, "don't sell the house, and get even on FB" most assuredly would be a stupid course of action. Meh. Error happens to the best of us.

You have absolutely no idea what the details of the interaction are, but came up with a truly dumb idea to prove your high testosterone level.

You even misread most of the thread and credited me with supporting the buyers agent's activity.
I am neutral on that, because I don't know what is going on over there and would only consider my sellers' position as most important.

Here's what you propose for the seller:

Your list price is $600,000. (Yeah, I made up a number to play with.)
4% commission is $24,000, equally split between agents.
A list price offer would be a gross net of $576,000 to the seller.

An agent (who may well be working at the direction of her client) demands 4% commission.
$36,000 total commission.
A list price contract would yield $564,000 gross/net to the seller, IF the seller counters at list price.
IF the seller counters at $615,000, with a smile and a "Thank You" for your offer, the buyer and agent are in position to make a decision to put more money in the seller's pocket.

But, the thinking among people with little experience and the usual trolls, is that it is better to burn the bridge than to attempt to profit from the discussion.
Because peckering around peevishly on FB is better than making a profitable deal?
Dumb. Really.

Last edited by MikeJaquish; 04-30-2018 at 04:31 PM..
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Old 04-30-2018, 04:44 PM
 
167 posts, read 72,867 times
Reputation: 371
You have as much of an idea about the transaction and associated details. And I’ll guarantee I’ve been on more sides than you this year.

So, you can get on your soapbox and high horse all you want... as a seller I’m still declining that offer - it doesn’t net what I want, and doesn’t have any justification.

Your hubris is amusing. I’m assuming you’d be good as the listing agent giving up a point?

No. You wouldn’t. Because it’s a bum deal. As for that buyer’s agent. I’m sorry - but her actions give you people a really bad name. I’d make sure it wasn’t encouraged.

Keep slinging your arrows though. Takes a big mind to come up with passive insults.

Last edited by El Senor; 04-30-2018 at 04:53 PM..
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Old 04-30-2018, 04:54 PM
 
3,799 posts, read 1,729,730 times
Reputation: 2155
Quote:
Originally Posted by MikeJaquish View Post
I did not call you "stupid." I don't think you are stupid. Just out of your league in discussing real estate in a mature manner.
Your advice, "don't sell the house, and get even on FB" most assuredly would be a stupid course of action. Meh. Error happens to the best of us.

You have absolutely no idea what the details of the interaction are, but came up with a truly dumb idea to prove your high testosterone level.

You even misread most of the thread and credited me with supporting the buyers agent's activity.
I am neutral on that, because I don't know what is going on over there and would only consider my sellers' position as most important.

Here's what you propose for the seller:

Your list price is $600,000. (Yeah, I made up a number to play with.)
4% commission is $24,000, equally split between agents.
A list price offer would be a gross net of $576,000 to the seller.

An agent (who may well be working at the direction of her client) demands 4% commission.
$36,000 total commission.
A list price contract would yield $564,000 gross/net to the seller, IF the seller counters at list price.
IF the seller counters at $615,000, with a smile and a "Thank You" for your offer, the buyer and agent are in position to make a decision to put more money in the seller's pocket.

But, the thinking among people with little experience and the usual trolls, is that it is better to burn the bridge than to attempt to profit from the discussion.
Because peckering around peevishly on FB is better than making a profitable deal?
Dumb. Really.
About 3 years ago someone called you conceited. It's showing again.
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Old 04-30-2018, 05:05 PM
 
Location: Cary, NC
31,636 posts, read 55,374,605 times
Reputation: 30188
Quote:
Originally Posted by illtaketwoplease View Post
About 3 years ago someone called you conceited. It's showing again.

Many people have been wrong here for years.
I'm glad to be available to offer experience and logic to counter oddball posts.

I'd rather be absolutely right, as I am in this thread, and called "conceited" by people with little to offer, than be wrong and mislead folks, so the critics might call me an icon.
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Old 04-30-2018, 05:24 PM
 
Location: Salem, OR
13,749 posts, read 31,584,066 times
Reputation: 12119
Quote:
Originally Posted by El Senor View Post
They day I ever call you stupid, you’re free to do the same. Until then, I’d welcome that conversation face to face.

My goal selling a house is to do so for the price that I’ve established. Rejecting an offer simply because the other agent wants more money is perfectly normal - and I’d want to make sure the buyer knew it was because they did so. Not that comps didn’t support it, or repairs - but just “I want more of your money”...pound sand.

You’ve staked your claim on the side of its ok to do so.
The issue with taking this stance is that you don't know the market conditions. In a hot market/market segment, it is fine to stand on principle and tell the buyer and their agent to pound sand. In a buyers market, and yes there are slow markets/market segments in the US right now, this could mean shooting yourself in the foot. It would not be good advice to tell someone in a buyers market to not attempt to negotiate an offer. There are ways to deal with the issue in negotiation if that is what is needed based on market conditions.
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Old 04-30-2018, 05:37 PM
 
Location: Cary, NC
31,636 posts, read 55,374,605 times
Reputation: 30188
Quote:
Originally Posted by El Senor View Post
You have as much of an idea about the transaction and associated details. And I’ll guarantee I’ve been on more sides than you this year.

So, you can get on your soapbox and high horse all you want... as a seller I’m still declining that offer - it doesn’t net what I want, and doesn’t have any justification.

Your hubris is amusing. I’m assuming you’d be good as the listing agent giving up a point?

No. You wouldn’t. Because it’s a bum deal. As for that buyer’s agent. I’m sorry - but her actions give you people a really bad name. I’d make sure it wasn’t encouraged.

Keep slinging your arrows though. Takes a big mind to come up with passive insults.
It can't be a "bum deal" until there actually is a deal.
Negotiations 101.
Jeeze.

"Price and terms acceptable to the sellers" is a common real estate term, "at least where I am."
The path to "Yes" gets congested when egos are more important than thinking and negotiating.
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Old 04-30-2018, 05:39 PM
 
167 posts, read 72,867 times
Reputation: 371
Quote:
Originally Posted by Silverfall View Post
The issue with taking this stance is that you don't know the market conditions. In a hot market/market segment, it is fine to stand on principle and tell the buyer and their agent to pound sand. In a buyers market, and yes there are slow markets/market segments in the US right now, this could mean shooting yourself in the foot. It would not be good advice to tell someone in a buyers market to not attempt to negotiate an offer. There are ways to deal with the issue in negotiation if that is what is needed based on market conditions.
And in this scenario, they’re not attempting to negotiate either.
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Old 04-30-2018, 05:43 PM
 
1,528 posts, read 728,033 times
Reputation: 2062
Quote:
Originally Posted by Silverfall View Post
The issue with taking this stance is that you don't know the market conditions. In a hot market/market segment, it is fine to stand on principle and tell the buyer and their agent to pound sand. In a buyers market, and yes there are slow markets/market segments in the US right now, this could mean shooting yourself in the foot. It would not be good advice to tell someone in a buyers market to not attempt to negotiate an offer. There are ways to deal with the issue in negotiation if that is what is needed based on market conditions.
That's exactly the same problem with Mike's very prescriptive advice on what you need to do.

Even in cookie cutter land you don't know exactly what the market will bear for your home. Mike says to focus on your 'bottom line'. But you don't know what your bottom line should be until you see how your home is doing in the market. Obviously you can have a minimum amount that you need but how do you know what you want to net out of the deal? Most people just want to net the most they can. Most would not be happy with their asking price if they knew that the market would bear much more than their asking price. if someone's willing to pay 615k with a crooked agent taking too much of it, then that suggests that you may be able to get 615k or more without a crooked agent that you need to pay a ransom to. of course, this may be a one-off and nobody else is out there. But who knows?

Most good answers in RE begin with 'it depends'. Once again Mike fell into the trap of trying to say exactly what to do when that approach is very dumb in many scenarios. So I agree with you that you can't say what to do without knowing the market conditions.
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Old 04-30-2018, 05:47 PM
 
5,682 posts, read 7,271,193 times
Reputation: 3198
Quote:
Originally Posted by El Senor View Post
You have as much of an idea about the transaction and associated details. And I’ll guarantee I’ve been on more sides than you this year.

So, you can get on your soapbox and high horse all you want... as a seller I’m still declining that offer - it doesn’t net what I want, and doesn’t have any justification.

Your hubris is amusing. I’m assuming you’d be good as the listing agent giving up a point?

No. You wouldn’t. Because it’s a bum deal. As for that buyer’s agent. I’m sorry - but her actions give you people a really bad name. I’d make sure it wasn’t encouraged.

Keep slinging your arrows though. Takes a big mind to come up with passive insults.
I think we know enough about the transaction to know that your post above is pretty foolish.

OP specifically asked “should we include the 1% in our counter?” In short, yes. If they had a number in mind previously, then make your counter that number+1%, which, to use your words, would “net what they want.” I guess if they want to be spiteful they could make it that number +1.5% or 2%, but that doesn’t change the fact that if this deal doesn’t happen and they later accept a lower price, then they could have netted a higher amount if they had been willing to pay a higher commission.
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