New thoughts on selling and buying strategies
January 8, 2009
Here are some ideas that a broker friend of mine shared with me. I thought you might be interested in considering them if you run into similar situations:
I just had a lengthy conversation with a seller who had used an agent from another company on their last full-priced listing. The listing expired 4 days ago. We discussed the following which I want you to be aware of:
1. The agent told him that he can not do any allowances to the buyer as the lender will not allow it. I told the seller to take a non-refundable earnest money check after due diligence and do the allowance that the buyer wanted 2 days before closing. Carpet for instance: they could go pick out the carpet or get a carpet place from Dalton to send the samples and the seller could have the carpet installed 2 days before closing. Same with paint, kitchen, bathroom etc…
2. We talked about him giving the agent and buyer a large plasma T.V. and to put up a sign where the T.V. would go.
3. We also talked about the fact that creative financing programs still exist and that he needs to find some and take down the conservative lender’s sign that is next to his for sale sign. Sellers today in certain price ranges and areas must make the deal work and that takes finding the lenders that offer 100% financing on down. They still exist, they just have to be found.
4. Then we talked about when he finds the lender to post his ad and the creative financing offer on Craigslist everyday.
Offers coming in still tend to be low. However, consider this: if you are planning to buy another home after you sell, you should seriously consider negotiating as best you can, but accepting an offer that is lower than what you would like. Why? Because if you can get freed up to sell now, you might well make up MORE than the difference in the low low purchase price of the next home you buy. It would be a shame to miss the buying opportunities out there now because you couldn’t come to an agreement over a few thousand dollars. And remember, you’re saving thousands with your Crawford Realty listing already, and if you use us as your buyers agent on your next home (assuming you’re staying in the area) you could potentially earn back 1to1.5% of the purchase price of your next home, which we would pay you out of our commission, if it’s a property that’s listed in MLS or a for sale by owner willing to pay a 3% commission. Please call us for details on this incredible program that no other real estate company in the state is offering.