I start showing homes to qualified buyers, they see a property they like and must have, then the question pops up"So, how much do you think we should offer? Below? At? Or above asking price?"
How about " I don't know" for an answer. There is no one single, one size fits all, universal answer to this question. Every scenario is different and it's my job as your agent, as one who is looking after your interest, to start gathering information in order to give you the best advice. We don't want to pay too much for a property but we don't want to offer so low that our offer is not accepted either.
Every seller is different. But here are some key things to keep in mind:
Every seller is different. But here are some key things to keep in mind:
-How long has this property been on the market? If it's been on the market just a few days, chances are sellers are waiting to see how the market will react.
-Do they have any offers on the table and if they do, how many and are those offers over asking price? This is my job: I will contact their agent and see if I can get some information from them. His/her answer may be something like these:
-"We went on the market 4 days ago and we have several offer with one being over asking price." At which point I will try to find out what that offer is. Sometimes they cooperate and sometimes not.
-"We've been on the market for two weeks. No offers. Send in your offer".
-"We have one FHA offer under asking. If you can get me a conventional offer at or close to asking, I'm sure seller will entertain it."
So, as you see, a good, polite, friendly conversation with the listing agent, can reveal a lot. Good thing is I have common sense (not common any more) and I'm a good communicator. You would be surprised that a lot of agents in my profession simply are not so.
Based on the information I have gathered and looking at comparable Active, Pending and Sold properties, I will make a suggestion as to what to offer.
A lot of my offers get accepted simply because I make good suggestions to my clients.
Thinking of purchasing a house, give me a call. I will hold your hand and walk through the process. You don't want to have a not caring/inexperienced realtor represent you in the biggest financial decision of your life.
-"We went on the market 4 days ago and we have several offer with one being over asking price." At which point I will try to find out what that offer is. Sometimes they cooperate and sometimes not.
-"We've been on the market for two weeks. No offers. Send in your offer".
-"We have one FHA offer under asking. If you can get me a conventional offer at or close to asking, I'm sure seller will entertain it."
So, as you see, a good, polite, friendly conversation with the listing agent, can reveal a lot. Good thing is I have common sense (not common any more) and I'm a good communicator. You would be surprised that a lot of agents in my profession simply are not so.
Based on the information I have gathered and looking at comparable Active, Pending and Sold properties, I will make a suggestion as to what to offer.
A lot of my offers get accepted simply because I make good suggestions to my clients.
Thinking of purchasing a house, give me a call. I will hold your hand and walk through the process. You don't want to have a not caring/inexperienced realtor represent you in the biggest financial decision of your life.
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