What Happens When The Seller Won't Budge?
How about some bookmark love? ::
What happens when the seller won't budge, and wants to hold on to their price? The chances are good that you have just encountered the 30%-40% of the market that "doesn't need to sell."
It is almost a mantra chanted by people these days, "I don't need to sell." This can confuse and frustrate the otherwise willing home buyer who has really big expectations of a "soft market".
Buyers in this market are looking for deals. If the seller's aren't going to give them one, they will sit on the market, while the buyers use phrases such as these:
Common Buyers Phrases:
Softening Market
Decline
Falling Prices
Bubble
Hit Bottom
Low Ball
To the buyers seeking deals, my advice is to leave no stone unturned, look at every possible listing in your price range, and have a few favorite possibilities lined up before making an offer. The more listings that you leave on the table for yourself, the more leverage you will have in trying to negotiate a deal.
To sellers, my advice is not to put the cart before the horse and get ready to buy before you sell. If your money isn't coming from the sale of your current property, then of course you are going to hold out for a good offer. Make sure that your property is getting plenty of lookers though. If you aren't getting the showings that you need, then don't expect any offers, this is where marketing is going to help you stand out ahead the hundreds of other available properties in your zip code.
What happens when the seller won't budge, and wants to hold on to their price? The chances are good that you have just encountered the 30%-40% of the market that "doesn't need to sell."
It is almost a mantra chanted by people these days, "I don't need to sell." This can confuse and frustrate the otherwise willing home buyer who has really big expectations of a "soft market".
Buyers in this market are looking for deals. If the seller's aren't going to give them one, they will sit on the market, while the buyers use phrases such as these:
Common Buyers Phrases:
Softening Market
Decline
Falling Prices
Bubble
Hit Bottom
Low Ball
To the buyers seeking deals, my advice is to leave no stone unturned, look at every possible listing in your price range, and have a few favorite possibilities lined up before making an offer. The more listings that you leave on the table for yourself, the more leverage you will have in trying to negotiate a deal.
To sellers, my advice is not to put the cart before the horse and get ready to buy before you sell. If your money isn't coming from the sale of your current property, then of course you are going to hold out for a good offer. Make sure that your property is getting plenty of lookers though. If you aren't getting the showings that you need, then don't expect any offers, this is where marketing is going to help you stand out ahead the hundreds of other available properties in your zip code.
Tags:
