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Looking through some of the ads, why bother saying bring all offers? I would imagine that if someone is interested, they would make an offer regardless. Is this an act of desperation? It just doesnt make sense to me. Also, on the flip side, if someone likes a house but they feel its priced to high, why dont they bother making an offer, even if it is low? If you dont ask, you get nothing.
Looking through some of the ads, why bother saying bring all offers? I would imagine that if someone is interested, they would make an offer regardless. Is this an act of desperation? It just doesnt make sense to me. Also, on the flip side, if someone likes a house but they feel its priced to high, why dont they bother making an offer, even if it is low? If you dont ask, you get nothing.
In our MLS, we get to put 288 characters in the Remarks. Gotta put something in there.
It may be a little lame, but it may be just what a Buyer needs to bring an offer and open negotiations.
I see a lot on overpriced listings. I think part of it is the agent doesn't want to recommend a price drop because the house wasn't well priced to begin with, and the sellers want an offer, any offer, to start the negotiation process.
does not mean they gota take it it means they are betting after you offer they will counter and you will fold up. buyer fatigue is a big part of the game.
I agree with the posts by Mike, Silverfall, and Middle-Age-Mom. But I'd like to add a little nuance; in a rapidly declining market there is a bit of price discovery going on. There is also the "I don't want to insult the seller with my offer" syndrome.
So some agents/sellers are waving the white flag saying "I want to sell but don't have a clue where to price".
does not mean they gota take it it means they are betting after you offer they will counter and you will fold up. buyer fatigue is a big part of the game.
SO AGREE. When we finally found the house we liked we made an offer of $515K on a $540K priced home. They came back at $530K then we came back at $525K...Thier agent said that their breaking point was $527K and they couldn't go any lower but that she would present our offer. In a panic (b/c we were tired of looking and going through the back and forth) we just said $527K and got it over with. Looking back we should have held our ground b/c 1) it is/was a buyers market, 2) $2K is not that much of a difference and even if they couldn't afford it they probably could have come up with it and 3) there were so many updates the place needed
Anyway, we were just tired of looking and negotiating.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Quote:
Originally Posted by FLBob
I agree with the posts by Mike, Silverfall, and Middle-Age-Mom. But I'd like to add a little nuance; in a rapidly declining market there is a bit of price discovery going on. There is also the "I don't want to insult the seller with my offer" syndrome.
So some agents/sellers are waving the white flag saying "I want to sell but don't have a clue where to price".
I agree with that, and I just yesterday inserted that phrase on a listing. I think it's priced OK, but the sellers have had a hard time with a tenant that had to be evicted and the tenant messed them up financially. They are getting closer to a need to sell condition and I don't want anyone to be polite and not make an offer.
There is also the "I don't want to insult the seller with my offer" syndrome.
I've experienced this. The house was beautiful and just barely overpriced. We shouldn't have been looking at it, but it was in our neighborhood so we stopped by. The owners gave us a tour (for over an hour!) and were very nice. We were in love. But again, it was out of our price range. It had been on the market for maybe 60 days, and we thought long and hard about making an offer in our range, but ultimately decided against it because we didn't want to insult the seller. After all, the house, in our judgment, was worth more than we could offer, the right buyer just hadn't come along yet.
If their listing would have said "will consider all offers," we would have submitted ours without a doubt. It sold 2 or 3 months later for maybe 5% under list, but significantly above what we were considering offering.
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