What to do in this situation
An evolving market calls for new techniques
The market has trends, and here is a recent common predicament.
- Working with a buyer
- We are the first showing on a newly listed home on day one and my buyers love it, but think it's overpriced
- How do you approach a seller in this strange market w/ a below list price offer, and have them take you seriously
Here is how:
Because most agents and sellers want an offer in hand as soon as possible, you as the buying agent "get permission" to submit a lower offer.
This is the approach:
Hey Mrs. Agent I showed your listing and my buyers have interest. However, they DO NOT want to compete. Is it safe to submit an offer, or are you waiting to get multiple offers in hand.
This conversation will go one of two ways.
A. They will either tell you not to bother
B. They will enthusiastically encourage you to write an offer
This is a win-win. If they tell you not to bother, then you as the agent and your buyers save yourself time and heartache from getting involved. If the agent encourages you to bring an offer, then you all of a sudden gained leverage in an instant. You basically cut through all the noise, get the listing agent to show their hand by that one simple phrase "my buyer is interested, but does not want to compete"
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