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Debbie Wiseman

What are the most counter offers you have had on a property?

By: Debbie Wiseman
Tuesday, May 01, 2007 6:18 PM

Just wondering because I am in the middle of negoations and we are on our 8th counter offer.  I  am the Listing agent and this has been going on for 10 days now.  I am beginning to get a little frustrated.  Anyone else had this experience?  This is the most counters I have ever had on any property.
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Comments

MaryAnn Morrar
Member Since '04

MaryAnn Morrar said:

I had eight once and we finally came to an agreement.  I felt if both buyer and seller had worked this hard we were going to get a deal together.

May 1, 2007 5:35 PM
Bruna Sapochetti/ Salesperson
Member Since '06

Bruna Sapochetti/ Salesperson said:

I just finished one with six back and forths.

May 1, 2007 5:38 PM
Klaus Nicholson
Member Since '07

Klaus Nicholson said:

  Last week at eight I followed up with a T&R Agreement, well then the other broker got involved because I hung up on a woman agent yelling at me early in the morning.  We went two more rounds and got it finished. Can't wait for the Appraiser to find something. And the whole time my wife was looking across the table at me smiling.  She had worked with the lady a couple of years back.  I had to hold my ground when it comes to safety issues and the other agent just wanted to remind me of all the concessions they had already made.  I would not have wanted to be in her shoes either.

May 1, 2007 5:48 PM
Mary Welch
Member Since '04

Mary Welch said:

I've lost count, but I am sooo happy when another buyer shows their interest because I use that and let the buyer know we need best and final offer. They could miss out dinging around, it is especially taxing when we are talking such minimal dollar amounts. I know everyone wants a deal, but sometimes it is more of a game. It is usually quicker done when you have both sides but when the other side has an agent it seems it takes twice as long.

May 1, 2007 7:13 PM
Sue Curtis
Member Since '07

Sue Curtis said:

5 is my record- it was a rinky dink investor buying a rental house. All that hair splitting for a 91,000 sale- lol!

May 1, 2007 7:13 PM
Jana  Davis & Marcia Demerjian
Member Since '05

Jana Davis & Marcia Demerjian said:

Debbie you have us beat.  Our max was 5.  Had one once that looked like it was going to go on and on and on!  Our client said enough is enough, have them fill out a new purchase contract will all the changes and it will be a go.  One of the risks of going back and forth so often is another offer can come in and you are dead in the water.  The buyer in our case was lucky that didn't happen.

Mary, I have a best and final story for you.  We had several offers come in on a great property a few years ago.  We went back to each of the buyer's agents to make a best and final offer.  Picked the best of those and faxed the other agents a thank you for your offer however... letter.  The next day our office manager called us in because one of the agents that had received our fax was insisting that we open escrow with his client.  He didn't come back with a best and final because that was their best and final.  So why did he receive that fax!  Needless to say our manager educated him on what best and final meant and he did go away.

Jana

May 1, 2007 8:14 PM
Todd Clark
Member Since '06

Todd Clark said:

7 is my record, it was on a property 3 days from auction and the bank was being well I can't say that here.

May 1, 2007 8:17 PM
Mark Cohen
Member Since '03

Mark Cohen said:

I had a commercial land transaction for almost 1000 acres that went back and forth 9 or 10 times, I don't remember exactly, over a period of 4 months before the contract was executed.  Then it took 15 months to close.  It was well worth the work and the wait.

May 1, 2007 9:38 PM
Debbie Wiseman
Member Since '07

Debbie Wiseman said:

Well just wanted to give everyone an update we are on our 9th counter now and waiting for Seller to accept or counter back - hopefully this will be the last....

May 2, 2007 8:46 PM
Carol and Steve Coldwell Banker Parker Realty
Member Since '05

Carol and Steve Coldwell Banker Parker Realty said:

We can't counter a counter here on PEI.  If they don't agree on the first counter, the only option is to offer again.  It's actually great as it opens up the bidding to other agents once the counter is rejected.

May 3, 2007 12:19 PM

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Debbie Wiseman
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