Right now, we’re going to talk about optimizing your selling opportunity. Thank you so much for checking out the Real Estate Today podcast.
I’m Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments. And I’m Marcia Edwards, Residential Broker with Windermere Real Estate.
Marcia Edwards: Now, this is a great market. You hear it’s a seller’s market, and in most areas of town and price points, it certainly is. That’s not good enough for some sellers. They also want to optimize that seller’s market and get the best return out of it possible. Of course they do. But that’s not just, take the first offer that comes in, work with it, and close, it’s a little different than that in this market.
Bob Nelson: Well, at the same time, would you suggest that if you get a strong offer, the very first offer, you reject the thing, or what do you recommend? I see that all the time, where potentially, the first offer is maybe the best offer you’re going to see for a while.
Marsha Edwards: I would say, handle it respectfully. Make it predictable. If someone’s coming at us on a house, say a first time buyer price point which happens to be under 400,000, crazy, I know. In the Ferry Street bridge area. If I just put that on the market for some seller’s to benefit them with the highest possible return, and I get an offer in Thursday night, and I’ve got the weekend ahead, I might say “We’re looking and reviewing offers on Monday.” Would we hold this until that time period? Are you comfortable with that? Or you can look at what you’re going to do on Sunday night and make a decision based on how much competition is there in front of you. So you definitely need to lay-out the plan for the buyer so you don’t lose that buyer, and handle them respectfully.
Bob Nelson: And certainly the time-line is critical because again, buyers are under a certain amount of pressure. They’ve been in the market. They’ve observed what’s there. They haven’t found what they wanted, or maybe they made your typical standard low-ball offer and it got kicked to the curb two or three times. Then they finally figure out, “Oh, I guess if I’m to play the game, I’ve got to be in the range of the market.” And yes, it’s fine to try to carve up a seller I guess, but guess what? They’ve got the ultimate possession of saying simply, “No.”
And in some instances they will say no, rather than counter to an offer that they perceive to be very low.
Marcia Edwards: So to be successful as a buyer you want to know the house as quickly as possible. Do get into it quickly, understand the lay of the land and the plan on how they’re going to execute, considering your offer and other offers. And then you want to put the strategies together with your realtor. As a seller you don’t want to just whisper that this house is up for sale, you want to blast it wide open, have it ready to show at the time that you put it on the market. Make sure you’ve got good exposure, so that everyone that should know about it does before you accept an offer.
Bob Nelson: You know Marcia , you’re brilliant at this stuff.
Marcia Edwards: I’m Marcia Edwards, Windermere Real Estate.
Bob Nelson: And I’m Bob Nelson, Real Estate investment broker with Pacwest Real Estate Investments.
Join Bob Nelson and Marcia Edwards Eugene, Oregon, real estate experts daily at 5:30 on KPNW for the “Real Estate Today ” radio show.
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