Recently another Seattle Buyer's Agent called me, the Seattle Listing Agent, if my now Pending listing looks solid, or if there might be a chance that the transaction could fail?
*Sigh*
So the question I have to ask the Buyer's Agents is why NOW?
The house has been on the market for months, with no interest, so where were these interested Seattle Home Buyers? I know our Seattle Real Estate Market is picking up for spring, but still, I have received 3 of these calls in the past few weeks. I got the same answer from all 3 Buyer's Agents, their Buyers had been sitting on the fence about making an offer. That waiting while deciding what to do, caused them to lose their opportunity to make an offer when someone else beat them to it.
It is HARD to decide to make an offer. Especially if as a Buyer, you are wondering if you should wait and see if the listed price might be lowered...or if home prices in general go down.
Since the house had been on the market for a few months, my Seller Clients were considering lowering the price (again) when we got the offer. While we hadn't lowered it yet, the Buyer was able to easily get an accepted offer at a lower than the listed price, since a lower price was ALREADY being considered by my Seller Clients.
So a tip for you Buyers considering buying a Seattle home, make an offer! If the house has been on the market for while, the Sellers may be willing to consider your less (way less?) than listed offer, it's called negotiating!
As hard as it is to make the decision to make an offer on a house that you are interested in...think of how you will feel if someone makes an offer on what could have been YOUR home?
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Deborah Burns
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BRIO Realty
Deborah.Burns.Seattle@gmail.com
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Deborah...Where have they been? With all the other buyers waiting for the market to bottom out. When will they know it has? When it is on the way up and then they will feel they missed their opportunity.
The answer I hear to the question you asked, think of how you will feel if someone makes an offer on what could have been YOUR home? is "Then it was not meant to be." That's a pretty passive response. If I'm looking for a house for myself I prefer to be more proactive. I find it difficult to understand the passiveness.
Good post.
Kathleen
P.S. Better that they are asking about the Pendings than no interest at all in any of your listings. Good luck.
Hi Deborah..great post.All Buyers are Comparative shoppers and a long term listing tells them it's over priced and maybe there is something wrong with the house. "Is no one else wants it why should we buy it."
Lowering the Price is just bring the price in line to were it should be..Buyers will act when you price it right..get two buyers making an offer and now you have a bidding war. It's aways about Pricing.
Cheers
Hi Courtney, I thought it was oddly funny, because it was the best home of it's type in the area, and at the lowest price...why the wait?
Hi Kathleen, I was glad of the interest because it helps to see that after months of almost no showings (or interest in that neighborhood - a well regarded one) that buyers are beginning to enter the spring market.
Hi Michael, I am sorry to hear that your buyer clients did not listen to your advice...and I sure they are sorry too! It is hard to make the decision to make an offer when the media makes it sound scary, of course that is when the buyers who can make the decision, can make a good one.
Hi Bob & Caroline, LOL, maybe that means that your market is beginning to reverse itself!
Hi Fred, yes it is about price, the market in that area almost totally froze up with the mortgage mess, that's why my clients house was the best buy in the area, best condition and lowest price...it was just a matter of time...for the buyers to return!
Hi Carol, yes that is part of the reason. Also some buyers are lulled into acting slow because there is quite a bit on the market for a longer time and the buyers begin to think they have lots of time to think about it. Unfortunately, on the buyers side we never know if someone else is also considering the house until the house has an offer on it...too late!
Hi Patricia, Oh, I feel for you! Argh!