Many people like to think of themselves as great negotiators. However, this belief often costs people a lot of money and heartache. As the market continues to rise more and more people are getting beat out of houses they want to buy because they want to negotiate hard. This is a stage in every rising cycle until buyers realize what kind of market it is. This is a seller's market. From 2008 to 2013 the buyer's set the market. Buyer's made low ball offers and the sellers either took them or lost the sale. The buyers simply went and looked at the dozens of other houses in their price range. Times have changed. Sellers are now at the steering wheel. Sellers are countering offers at list price or close to list price. Realtors are advising them to be stubborn because if it is priced properly in this market it will sell and sell fast. Buyers get angry and say they will just wait. They undoubtedly are waiting to pay more as the market rises. It is only logical when there are lots of buyers looking at a limited number of houses that the buyers that get the best deals are the ones that are willing to act fast and write an offer that seller will accept. This way there is no time for another buyer to come in and compete with you which will drive the prices up. If you are looking to buy a home and your Realtor says, "In order get the best deals you must be willing act fast and write a strong offer." Trust that they are not just being a salesman. They are looking out for your interests.
Did you know sometimes it's better to offer list price?
- June 1, 2015
CENTURY 21 Executives Realty Ltd.
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