In the Reno-Sparks market, right now, we are selling through only about 12% of available listings. Which means, if you’re a seller, any offer you get is likely to be low. Here’s an excellent primer on how to deal with this situation. read
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NAS
Good article. Sellers are scoffing at the low ball offers, too bad.
After their homes continue to stagnate on the market, they may
have regrets of not negotiating. Buyers are not the enemy.
BanteringBear
I think Anthony is living in the Twilight Zone. First of all, 10% off is hardly a lowball offer. 25% maybe, not 10%. And what’s this nonsense about “complementing” the potential buyer, in order to keep the negotiations alive. For crying out loud who cares!? The buyers sure don’t. The deal is going to be sealed based on a financial agreement, not a shallow exchange of pleasantries. Good grief!
In an environment such as this, with such fierce competition, back and forth negotiations (multiple counters) do nothing but turn off buyers. Until a deal is reached, they are still looking at other properties, and they may even be submitting other offers. Time is of the essence. Too many sellers are cutting their own throats by wasting time trying to wring every last penny out of their house. It isn’t working out so well for them. They’re finding their house is not so “special” after all. Every offer should be looked at seriously, for another one may never present itself.