We recently had a couple with 3 showings on our listing....they LOVE it....they are working with a very professional co-broke who told us they are transferrees from the east coast...and after having their house ont he market for over a year, have an offer and will close at the end of the month....great cause for celebration !
During this year on the market, they had been "low balled" had buyers express interest, but until now, had not gotten the price they wanted. They told their agent, our listing was NUMBER 1 on their list and were prepared to write a "low ball" offer. Despite being a buyers' agent reminded them how they felt when they got an offer that was ridiculously low. She reminded them again of how well maintained the property was..how Mrs. Seller cleaned as meticulously as Mrs. Buyer..how they had seen the comps and know it to be the best priced, newest, best maintained, largest, most featured home on the market...not only in that neighborhood...15 minute commute from Mr. Buyer's employment...BUT in the whole suburb.
"Do Onto Others" she preached.....writing pens are supposed to come out this weekend....stay tuned...will Mr. and Mrs. Buyer write as their reminded consciences dictate....OR will ethics and common sense be tossed aside despite what their agent has told them ?
Wrong o Dan O...
As both the selling agent and I have told them (they came to an open) we believe we have hit the bottom here and sales are healthier than they have been for a long time. Real estate is local, remember ?
Real estate is, indeed local and I trust that you and the other agent know your area's market. These Buyers would be well advised to "listen" to the advice they are being given.
Ocala Florida and the Milwaukee Wisconsin area are a world apart.
It is beyond me why agents from other areas of the country think they know more about our market than us. David and Sally are well respected leaders of our real estate community. I hope that the buyers heed the advice of not offending the sellers. A low ball offer on a properly priced property doesn't get the buyers anywhere. (Everyone's idea of lowball is different, hopefully theirs it within 5% OF asking....) Good luck David and Sally, our market IS better today than 4 months ago.....
Thank you April...
I hope Mr. Homan reads your comment and stays off our blog....Know it all attitudes,...agents, first timers, sellers, etc. are never appreciated and IF he is an experienced agent, you would think he would know that...hmmm ? Let's be glad we are not in Florida and know that some day it really will stop snowing.
Best of Luck !
My Goodness, you seem to have hit a nerve here! I didn't realize this was such a controversial issue in the real estate community. I have worked with a few clients that low balled one offer after another. You couldn't convince them to make a reasonable offer or that there was a possibility that the asking price was as low as the seller could go due to having a payoff. After low-ball offers on 5 different properties, seller's trying to meet buyers in the middle, and buyers not willing to go up another $1000, I fired them as clients. I had worked with these people for almost a year and they insisted they were going to get something for nothing. Even on a house that had a recent appraised value of $30,000 more than they were willing to pay, and the seller coming down $20,000 less than appraisal. I wasn't very effective at finding them a property to steal, and had wasted more than too much time and money with these people. It's a year and a half later, and they still haven't bought a home.
In most cases, the sellers don't have to give their properties away. I certainly wouldn't!
I hope this works out for you and your client. I love a happy ending!
The nerve Lisan
was not that buyers write ridiculous offers...it was the offense taken that the listers (that would be me and my husband) had not done their home-work. Since we live in the same sub-division I can tell you the prices of every home and who sold them....no FSBOs here. It's the same silliness that too often prevails in the A & A section of AR when out of state realtors answer questions for the joy of seeing their name in print and they have no idea of the laws etc. in a particular state.
Wow,
I am shocked that you would be so closed minded as to not accept varying opinions about your statements. If you don't want to get opinions, you may turn off commenting. Or just write on a static site.
In this case, I believe that you are 100% wrong. An offer is an offer. We are obligated to write them, and you are obligated to present them. You mentioned you live in the neighborhood. Is that why you feel the need to "control" the price.
Could be a conflict of interest. Real estate is business, not emotion.
I have to agree. My first two sentences were related to the fact that I find it insulting that anyone would question an agent's credibility and professionalism without knowing the agent and how they do business. I viewed a few of the comments above as a direct attack on you, personally, and I don't believe that was very professional of the person that posted them. Everybody has a right to their opinion, but they should be presented in a professional manner. After all, we never know who may read what we're writing.
I apologize for mixing my statements. The story about my clients should have been in a different paragraph to avoid misunderstandings.
Thank you Lisa...Some people just like seeing their name in print....A conflict of interest because you know the neighborhood better than someone who lives on the other side of the country...that's a new one...real estate is local....comps are objective....and that is what we use to determine the price....not an auction.
So ...
In Wisconsin ... real estate law does not obligate you to present all offers? And working for the seller means countering ALL offers to terms that are acceptable to the seller. And I never list property in my own neighborhood, because I do consider that to be a conflict of interest, which I think is a moral and professession position to take.
And to question someone's professionalism because they don't know you or agree with is ridiculous. We only know what we read here, and as I mentioned, turn off commenting if you don't want to hear about it.
I love to get different opinions on my blog. I have even had my mind changed on occasion.
I agree again. Who knows your area better than the agent living in that area? And again, I find the comment that you would try to control the prices in your neighborhood offensive. I think that everyone is entitled to their opinion, but as I said, it should be presented in a professional manner. I just don't understand why some people feel the necessity to attack another.
I personally farm in the area I live in. I know my neighbors, and know what goes on with the properties in it. I don't have to rely on comps from the MLS alone, and these homes are treated just like any other listing I take. People in my neighborhood don't hire me because they believe I'm going to balloon the value of their home. They hire me because I am the professional and they trust my opinion. I believe it is probably the same with you.
I am truly sorry that some folks have to be so aggressive in voicing their beliefs.
Sally,
markets like this usually bring out the "ceritified thrifties"...if you know what I mean.
Steve
Just curious - nowhere in your post did you mention you live right around the block or profess to be the local expert - yet you lambaste somebody who has the temerity to post a comment questioning your view? So 'YOU THINK' the market has hit bottom - well that and $3.95 will get you a cuppa over at the coffee shack.
Then you end your post by asking if ethics and common sense will be tossed aside? Wow - didn't realize it was unethical to write a lowball offer in Wisconsin. That's a tough market, eh? Glad I'm in California where others peoples opinions and comments are welcomed and Realtors are free to write whatever offer the buyer thinks your house is worth. Good Luck. Hope those buyers don't end up in jail for writing an offer that is beneath your dignity.
Like the fellow up above suggested - Next time just post to localism so you don't have to contend with all the boneheads outside of Brookfield where you are the acknowledged 'Head Honchos' of real estate. If you don't want comments - don't post or shut comments off. If you only want comments that agree with your viewpoint, good luck.
Lissa..sooo much I could say....this has gone from professional ACTIVE RAIN to what some people feel the necessity to turn it to Acid Rain....Thanks again...appreciate your professionalism and support !
I tend to stand up for what I believe in. I found there to be nothing wrong with your blog, and certainly no reason for such comments. It will come back on them though. One way or another, loss of a client or potential client, most likely, due to unprofessional attitude and they may not even realize it when it happens.
Keep blogging and good luck!
If you are working with an experienced realtor...and have a buyer agency...he or she will tell you that there properties that are "priced to sit" and those that are "priced to sell" ,...there is a difference....The difference is his/hers to explain...and law requires the offer to written...the smart realtor and buyer are the ones who have studied the market and know the difference and how to find a good value.Choosing a random percentage without the benefit of the study may even mean you are paying tooo much !
Here are more articles written by Economists
http://www.realestatedecline.com/
Very interesting. I have been following your post and responses. Did you get an offer you never mentioned? I hope it was a good one. If not did you trash the local agent or do you reserve the venom for out of area people who post comments on your national blog. I thought most of the dissenting opinions were professional and valid. Maybe you are a local expert, but you need to learn people skills and manners. Does your broker know about your nasty streak? Your attitude is why I don't use realters