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Multiple offers generate higher offers for fsbos.
January 11,2022 | Posted By Flavia Brown in Real Estate
Message to for-sale-by-owners regarding multiple offers:
I’m not trying to get your listing. However. If I bring a good buyer, will you pay my broker fee at close of escrow? Meanwhile, for whatever it may be worth, just in case you decide that you would like to sell at the highest price possible and you don’t want to be concerned with all the tasks of selling, entertaining real and fake buyers, and dealing with all the paperwork and legal issues, I have been successful generating
much higher than asking prices. It’s easy if done right. All it takes is pricing correctly and having a strong and effective marketing program that will attract the most buyers. Buyers will drive up prices way above asking prices. Now is the time to take advantage of the present market conditions and the strong seller’s market (greater demand than supply, prices increasing, etc.). Here is how buyers are thinking: “The best time to buy is yesterday; the second best time is now." However, “experts” and economists predict that in a couple of months there will be many more properties on the market, since many potential sellers who have been holding off selling because of the holidays will become active again. If that becomes a reality the real estate market will shift to a buyer’s market and multiple offers will be gone. I will be glad to explain how to effectively generate multiple offers.
Please contact me via phone, text, or email
To your success,
Flavia Brown, Realtor
Assistant Ben – same number
P.S. Important note to fsbos regarding multiple offers:
News for some
: Sellers aren’t legally required to accept any offer, even if the offer is at or higher than the asking price. That is California law. Sellers don’t even have to provide a reason or explanation for rejecting any offer (although it is polite to give an explanation, and that would be: “I think we can get a higher offer.”).
Mr. & Mrs. Seller want the final purchase price to be $1.28M or very close to that price, and they want to accomplish it by generating
. Because of diligent comps study they know the fair market value of their home is $1.2M and an accurate list price would be the same, but because of the hot seller’s market and the multiple offers plan, they hope to sell at around $1.28M. In an effort to attract the most potential buyers, they list their home at a low $1.19M. In a few days they receive three higher offers, and two are around $1.26M, which is higher than the $1.2M market value and the accurate list price, and much higher than their asking price (or actual list price). However, M/M Seller wants $1.28M, so they reject all offers and tell their Realtor to resume marketing their home until they receive a higher offer from a lender-qualified and pre-approved buyer or an all-cash buyer.
: For helpful information please click my blog post "Significant real estate info."
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