Sellers Are Not Always Rational
Determining what to offer is more an art form than a science. Sellers often don’t even know what they’ll accept until a signed offer with a deposit check is laid on the table in front of them. Sometimes they’ll take offers they should counter and other times they’ll reject offers they should grab.
It all comes down to the ebb and flow of the seller’s state of mind and what’s happening in his or her life at the time. In one situation, the sellers rejected an offer that came in $9,000 lower than the listed price.
But the next day, when an offer they had made on a home in another state was accepted, everything changed. Money suddenly took a back seat to getting out of town as fast as possible. The sellers called their agent, told him they had changed their minds, and asked if he could retrieve the offer.
They had pen in hand, ready to sign. So, it’s best to stay flexible because you seldom know the motivating factors in sellers’ lives or when and how they may change.
Tips:
Build rapport with sellers by looking for areas of common interest, such as work, hobbies, sports, and same schools. But don’t talk about the loan you qualify for or provide details regarding what you would offer. Sales have been lost because buyers have said too much. An old World War II poster reads, ‘‘LOOSE LIPS SINK SHIPS.’’ This thought also applies to real estate deals.
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