Comments on: How much under the list price can I offer? http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/ Conversations in Real Estate Wed, 08 Feb 2012 15:43:51 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Brian Boisson http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/comment-page-1/#comment-1071 Brian Boisson Tue, 26 May 2009 15:22:24 +0000 http://www.pruvoices.com/?p=1293#comment-1071 Adam, Great observations and comments and like you mentioned, it all depends on the individual situation. One good question to ask a buyer who you think and they think finally found the right home and they are pondering what offer to make is: If you did not get this property and in six months you drove by and saw other people living in it, would you feel you made a mistake? Brian Adam,

Great observations and comments and like you mentioned, it all depends on the individual situation.

One good question to ask a buyer who you think and they think finally found the right home and they are pondering what offer to make is: If you did not get this property and in six months you drove by and saw other people living in it, would you feel you made a mistake?

Brian

]]> By: Adam Chinn http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/comment-page-1/#comment-1058 Adam Chinn Sat, 23 May 2009 23:38:29 +0000 http://www.pruvoices.com/?p=1293#comment-1058 Thanks to everyone for their comments, I especially like Lee's comment, "To make them feel more comfortable I remind them the bank and I will not let them pay over the market value." We do need to remind out clients that both us and the bank that is providing the loan is going to look out for their best interest. If the home is not worth the amount they offered, it would not appraise. Thanks again everyone, Adam Thanks to everyone for their comments,
I especially like Lee’s comment, “To make them feel more comfortable I remind them the bank and I will not let them pay over the market value.” We do need to remind out clients that both us and the bank that is providing the loan is going to look out for their best interest. If the home is not worth the amount they offered, it would not appraise.

Thanks again everyone,
Adam

]]> By: Jean Joh http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/comment-page-1/#comment-1056 Jean Joh Sat, 23 May 2009 20:28:34 +0000 http://www.pruvoices.com/?p=1293#comment-1056 Great post on a very relevant subject Adam! I've been asked this question many many times, and my answer is like yours - that rather than basing on the list price, they need to consider the recent activity in the market and also how much they want the home and would be willing and comfortable to pay for it. It's important for our clients to know that the listing price is just a "price tag" and not necessarily the market value of the home. Great post on a very relevant subject Adam! I’ve been asked this question many many times, and my answer is like yours – that rather than basing on the list price, they need to consider the recent activity in the market and also how much they want the home and would be willing and comfortable to pay for it. It’s important for our clients to know that the listing price is just a “price tag” and not necessarily the market value of the home.

]]> By: Michael Monozon http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/comment-page-1/#comment-1052 Michael Monozon Sat, 23 May 2009 17:03:27 +0000 http://www.pruvoices.com/?p=1293#comment-1052 Adam Great question, and so many correct answers. As you stated what is the objective, just to write offers, or to purchase the home? And then there is the mentioned twist of how was it priced to begin with, at market, below market or higher than the last sale? thats a lot for anyone to get an understanding of, and points out why your role as the Realtor to provide factual information is so vital to each and every person or family that is looking to purchase a home or investment property. Communication and factual information equal no surprises. Adam
Great question, and so many correct answers. As you stated what is the objective, just to write offers, or to purchase the home?
And then there is the mentioned twist of how was it priced to begin with, at market, below market or higher than the last sale?
thats a lot for anyone to get an understanding of, and points out why your role as the Realtor to provide factual information is so vital to each and every person or family that is looking to purchase a home or investment property.
Communication and factual information equal no surprises.

]]> By: Lee Ginsburg http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/comment-page-1/#comment-1051 Lee Ginsburg Sat, 23 May 2009 05:12:54 +0000 http://www.pruvoices.com/?p=1293#comment-1051 I try to make sure buyer understands they are offering over the list price but and this is a big but not over the market price. To make them feel more comfortable I remind them the bank and I will not let them pay over the market value. Truely the best way for them to understand the market is to jump in. Let them write under the list price and lose out a few times. They will learn quickly if they are serious buyers. People learn better from their own mistakes rather than someone else's. Lee I try to make sure buyer understands they are offering over the list price but and this is a big but not over the market price.

To make them feel more comfortable I remind them the bank and I will not let them pay over the market value.

Truely the best way for them to understand the market is to jump in. Let them write under the list price and lose out a few times. They will learn quickly if they are serious buyers. People learn better from their own mistakes rather than someone else’s.

Lee

]]> By: Larry Franzella http://www.prucalvoices.com/2009/05/how-much-under-the-list-price-can-i-offer/comment-page-1/#comment-1049 Larry Franzella Fri, 22 May 2009 16:23:18 +0000 http://www.pruvoices.com/?p=1293#comment-1049 Adam, Great advice. If the property is listed under the current comparables a cleint might actually have to offer more than the list price. Quite often it is difficult for buyers to understand that in this market, especially when they hear all of the media reports. This is one of the jobs of a good Realtor; to educate the client and provide all of the information so they can make an informed decision. Larry Adam,

Great advice. If the property is listed under the current comparables a cleint might actually have to offer more than the list price. Quite often it is difficult for buyers to understand that in this market, especially when they hear all of the media reports.

This is one of the jobs of a good Realtor; to educate the client and provide all of the information so they can make an informed decision.

Larry

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