Jack Barry Realtors

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It’s a buyers market.  This means that there are good deals out there.  Since it’s a buyers market, buyers knew that there are good deals out there.  But having good deals in the market is not enough for some buyers.  Some are still looking for an even better deal.  What some buyers want is an even less price of what is already less in the market.  This is the attitude of buyers when they know it’s buyers market, but sadly they don’t fully understand what it means if it’s a buyers market.

Many buyers want to offer $50,000 less than the list price, on $150,000 homes in Logan.  They want to know if sellers would agree.  Are low ball offers like this an effective strategy in buying a property?

It depends on who the seller is.  If the property is a short sale or bank owned home, then this may be okay . However, banks are sensible enough not to buy this kind of offers.  Buyers can make pretty low ball offers because anyway it’s just an offer and who know they might get it or they are more willing to pay more.

If the property is owned by a traditional seller, someone who has lived in the house and made it a home, then an offer like this is a bad idea. For a traditional seller, the home has is worth a lot more than what any buyer will pay. Their home has memories, it has emotional value, it has a monetary value attached to the costs and improvements they have made to the property.

When sellers get a low ball offers, they usually get offended. They develop emotional animosity towards the potential buyer and often will refuse to even counter the offer, because they don’t want to sell their home to someone who doesn’t see the value in it. So even if they are so eager to sell the property, they wouldn’t because of pride and disdain.

A good real estate agent will advise their clients on a the real value for the property, and help them make a realistic offer based on that.  Most sellers in today’s market can’t go any lower than their list price in order to avoid a short sale.

It’s a new age of real estate.  Whether a buyer is looking for Atlanta GA Real Estate, or Real Estate in Logan Utah, attitudes and behaviors are different than they have been in the past. Thus, real estate agents must educate their buyers or clients on the right way to make offers and just because of their personal reasons.  By doing this, they can be the best real estate agents offering the best service and expertise on their field.

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