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Michelle Leonard

A Shift In Agent Attitudes on The Main Line - Is this a new sales strategy?

By: Michelle Leonard
Saturday, September 20, 2008 9:45 AM

I am working with an out of town buyer in the $350,000 ballpark. He would like to settle in about 20 days. The buyer is well qualified. He is putting down 15% - and has ample reserves. When I ran the Market Absorption for Lower Merion there was over a year supply of homes so it is clearly a buyer's market. When I ran the supply demand ratios - it clearly showed that it is a buyers market.  Only 1 home sold last month and 1 home had gone under contract this month.

The Listing Agents are not encouraging about the buyer making an offer that is not full price or trying to encourage their sellers to move quickly. What are you experiencing in your neighborhood?

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Comments

Margaret Rodgers
Member Since '06

Margaret Rodgers said:

Many agents in our area in the last  few weeks say they have had no calls on any listing in any price range or area , much less one that wants to make a low offer , There was one buyer that was asking questions on another site about a home that was listed ,she said  " I really like the home but think its over priced,and I just don't want to offend anyone with a low ball offer of $10,000 off of a $79,900 listing that has been on the market for 175 days"  She asked many other questions about it but did not make an offer ...any offer  .  The home is on the expired list .  If she likes it so much she should have made an offer ,more than one agent told her just that.

September 20, 2008 7:38 PM
Gregory Bain
Member Since '03

Gregory Bain said:

My mind set has changed about the so called low ball offer. The listing agent lied to the home owner to get the listing. I don't care if my client wants to offer $100,000 less than the asking price of $400,000. Any offer is better than NO OFFER. The other agent should thank me and work hard to get it accepted.

That wouldn't be too hard if they tried to tell the truth to the home owner instead of gettng a sign on the lawn with their name on it.

September 21, 2008 10:09 AM
Mark Cohen
Member Since '03

Mark Cohen said:

I agree with Gregory.  Any offer is better than no offer.  There is always a chance, no matter how small, that an agreement can be made from a lowball offer.  I actually have had several where the seller eventually came way down and the buyer eventually came up.

I have a listing now that has a $130,000 difference between the seller and buyer.  The seller has been sliding down and the buyer has been creeping up over the last month.  

At the rate of movement they might meet in 3 or 4 months.  I had one last year that took 6 months before we got an agreement and it did close this year.

It takes patience and more patience but it can pay off in the long run.

September 22, 2008 6:17 AM
Michelle Leonard
Member Since '06

Michelle Leonard said:

You are smart to encourage a buyer and seller to find their common ground and create a win win situation!

September 22, 2008 9:37 AM
Vance Remele
Member Since '04

Vance Remele said:

What else is new?

http://www.nbc.com/Deal_or_No_Deal/game/

Its all a game in the end.....

September 22, 2008 12:18 PM
Cindy Hartman
Member Since '05

Cindy Hartman said:

I agree with Gregory as well - Just BRING ME AN OFFER, and if we need to, we can negotiate from there.  But it can never hurt to "ask" and we can't work with anything if there isn't an offer to even take a look at.  There has to be a starting point.  

September 22, 2008 12:19 PM
Cindy Hartman
Member Since '05

Cindy Hartman said:

It is a game...

When we all line up for teams - If I can be captain I'll pick you first Vance!

September 22, 2008 12:21 PM
Vance Remele
Member Since '06

Vance Remele said:

Well Cindy , Thank you

I would love to be on your team, have you come up with a Team Name?

or a theme song?

Maybe this for a theme song , nothing is impossible!

http://www.youtube.com/watch?v=ZSGVCEOjIlQ&feature=related

September 23, 2008 10:40 AM
Bill Thompson, REALTORĀ®
Member Since '07

Bill Thompson, REALTORĀ® said:

When a buyer or their agent tells me they really like my listing but they feel it is priced too high, I ask them to tell me ALL the things they like about it (get them to focus on the positives of the property for a little while). When I have gotten them to say as many positive things about it as I can, I enocurage them to make an offer, in a contract of course, and we'll go from there. I say something like, "Since this home has so many of the things you are looking for, let's not walk away, make an offer and we'll see if we can work something out for you."

September 24, 2008 8:46 AM

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Michelle Leonard
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Michelle Leonard
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