Buy Alexandria Real Estate: They Are Definitely Interested in Selling

Alexandria Virginia Real Estate Blog

They Are Definitely Interested in Selling

"They're Definitely Interested in Selling!"

"Thanks for letting me know" was my response to the listing agent who told me this nugget while informing me that there was a lockbox on the home and that I needn't call the sellers before showing.

Hmmm...  I thought that's why most people put their house on the market -- because they're definitely interested in selling.

From the tone of the agent's voice and the number of days the home had been on the market, it was clear to me and to my clients that these sellers were more than willing to consider offers on the home:

low offers

crazy offers

any offer.

This was not the home that my clients eventually ended up selecting.  However this story teaches a valuable lesson of negotiating:  Don't give away the farm!  Do not give away important pricing information before a negotiation even begins.

A listing agent represents (or is supposed to) the interests of the sellers.  That particular agent failed miserably.

Sure, my clients are "definitely interested in buying"  -- just not that house.

 

Thank you for reading my blog post.  If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

Follow Brian Block on TwitterBecome a Fan of Block Real Estate Group on FacebookConnect with Brian on LinkedInWatch Brian's Videos on YouTubeSubscribe to Brian's Blog

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Comment balloon 7 commentsBrian Block • October 05 2009 06:49AM

Comments

I agree, but it is also the Buyer's agent's responsibility to gaurd against "crazy offers" Although the Listing Agent did give away a bit. It's kind of like showing their hand. Thanks for the post.

Posted by Chris Hill, Your Southern Maryland Real Estate Professional (Century 21 New Millennium) over 8 years ago

Brian, in this market the sellers were probably receptive to any offer. However, whether they would accept it or not is another story. The agent did sound desperate for an offer though.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA over 8 years ago

Brian - LOL, yes this happens a lot in our market too with agents.  But sometimes it is the agents that are more definitely interested in a deal and the sellers are not as "motivated" as was originally thought.  Still, you would think that these sellers are a bit more motivated per se, but why not just lower the price on your listing as well ?

Posted by Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate (Realtor / Owner - RE/MAX Access) over 8 years ago

If some of the clients could hear what their unprofessional agents say to others there would be a lot more lawsuits!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) over 8 years ago

Brian, this is so true. I can't believe what some agents say about their listings. 

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Perry Wellington Realty, Adam Conrad, Broker) over 8 years ago

If I feel impelled to say anything, I tell the agent I would love to do a deal with them. Maybe even that is going too far sometimes!

Cheers,

Robin

Posted by Robin Rogers, CRS, TRC, MRP - Real Estate Investment Adviser (Robin Rogers, Silverbridge Realty, San Antonio, Texas) over 8 years ago

I had a house listed recently that the seller knew they would be bringing money to the table.  They wanted as much as possible.  It was priced right in that we were getting showings.  The seller was struggling though to keep the mortgage current as they already bought another house.  They said find us a buyer at any cost. 

So I called all the showing agents with in the past month.  I told them "my client knows that the house is a bit high but make an offer, we will not be insulted and it could actually result in an accepted contract.  No offer will be rejected, it will be countered. " 

Desperate?  Yes, it was supposed to come off that way to the other agent.  My seller approved the verbage, they wanted the house gone.  Out of 9 agents 4 responded, 2 made verbal offers which we negotiated, and of the two, 1 resulted in a signed contract and a closing. 

My point is, you never know the motivation to the comments being offered.  In my case the seller already bought another home.  Then the husband lost his job and they had 2 mortgages.  They were able to meet thir obligations but not for long.  Their credit was such that they could take out an unsecured loan to pay the difference on the sale, tarnishing their credit score. 

I got a good deal for my client.  They walked away happy.  The BA got a hell of a deal for their client.  In his book he likely thinks he beat the crap of me negotiating wise.  BUT based on the info and instructions given to me from my clients, we got a bit more than expected.  I don't need ego boost enough to say I WON.  I was fine leting the BA feel like he won, im sure we will meet another day on another deal. 

Posted by Chad Baird (Re/Max Spirit) over 8 years ago

Participate