As a listing agent, when I have a listing priced at $182,000, why do I care that the buyer only wants to pay $165,000 for a house? I had a listing that closed a couple of weeks ago, but negotiations were a little difficult. We were listed at a very competitive $182k for a 2700 sqft home built in 2002. I know buyers in many parts of the country are drooling over that price!
I get a call from a buyers' agent asking if my seller would take $165k. I tell her she can write up an offer and I'll present it, but that it seems pretty low for this house and not sure how the seller would react to it. Of course I knew how the seller would react because I prepare my sellers at our initial listing appointment. I run through several scenarios with my sellers so they know what to expect, the good and the bad.
She continues to tell me that her buyers are already approved to $169k, but only feel comfortable staying around $165k, oh, and they'll need closing costs. It's like she's trying really hard for me to discuss confidential information about my seller to see if he'll take less, but I never fall for it. I again tell her to send me an offer. So, I let my seller know about the conversation. By the way, the house was only on the market about 6 weeks.
I end up getting an offer the next day for $169k with no closing costs. Great, it's better than she said it would be. We countered it back since it was still fairly low. The buyers' agent is very upset that we countered and reiterated that her buyers' comfort level was only $165k and by submitting the offer at $169k with no closing costs, that they were serious about the house.
"I'm sorry, but what part of your buyers wanting to pay $165k has to do with my seller listed at $182k? Why are you showing your buyers houses that they can't afford?"
"Well, it's a buyers' market and my buyers thought your seller would be excited to receive an offer."
It's been 6 weeks, not 6 months... "Umm, what market do you typically work in that it's a "Buyers'" market?"
For people across the country who are in buyers' markets, we're not in Dallas. Yes, we have a lot of inventory, but in most areas, houses are selling about 97-98% of asking price, and some individual communities are selling at a full 100%.
I looked up the agent in the MLS. She has sold only a handful of houses in the past couple of years. Great, another agent who "dabbles" in real estate as a hobby. Just so you know, my seller sold for a very nice price at 98.11% of asking price, and the buyers' comfort level increased when another offer was on its way.
Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!
ARE YOU PACKED YET?!