How to choose a realtor for buying a house
#16
Re: How to choose a realtor for buying a house
I understand that, and every market is different, few more so than Nicky's and mine, but there are still ground rules that the realtor needs to accept - for example "needing some repairs" might be acceptable but it has to be at least "liveable". .... So trying to sell you a "darling home", but with subsidence, fractured sewer line, and a leaky roof is a waste of everyone's time.
#17
Re: How to choose a realtor for buying a house
One technique we used to get a house we wanted was to put in an offer that stated $1000 over the highest offer. That might be a bit risky in this market.
#18
Re: How to choose a realtor for buying a house
I understand that, and every market is different, few more so than Nicky's and mine, but there are still ground rules that the realtor needs to accept - for example "needing some repairs" might be acceptable but it has to be at least "liveable". .... So trying to sell you a "darling home", but with subsidence, fractured sewer line, and a leaky roof is a waste of everyone's time.
#19
Re: How to choose a realtor for buying a house
LOL, if only that was true here. We've been told if we look at a house listed at $1.25m expect to pay $1.4m
#20
Re: How to choose a realtor for buying a house
So in that price range you may want to go $25k above the highest offer, but would you be prepared to pay over $1.4 m for that house? I probably paid about 20% above asking near the bottom of the market.
#21
Re: How to choose a realtor for buying a house
Both agents reckon they get sales when their bid isn't the highest offer. Only time will tell I guess.
#22
Re: How to choose a realtor for buying a house
That just creates a mess when you get multiple people trying that strategy. Round here, if they're interested in you as a buyer, you're likely to get a "send me your best offer" reply, effectively a one-shot auction. At that point trying to game the system is unlikely to work IMO.
#23
Re: How to choose a realtor for buying a house
Most people just give one offer price. I don't think many people use this technique. I think the house had 5 or 6 offers on it that I bought.
#24
Re: How to choose a realtor for buying a house
How would you know what the highest offer is though? It's mainly closed bids around here, and when you get 20 offers there's not much negotiating to be done as a buyer. Especially when 10 of them are buying cash.
Both agents reckon they get sales when their bid isn't the highest offer. Only time will tell I guess.
Both agents reckon they get sales when their bid isn't the highest offer. Only time will tell I guess.
Ours wasn't the highest offer but the neighbour liked us which was important in our street where we get on very well and have parties/gatherings on the street most weeks.
Another house got sold not to the highest bidder but because it was a family with young kids buying it. The sellers had brought their kids up in it and wanted the house to be a family home again.
You never know, you might get chosen because you have a British accent.
#25
Forum Regular
Joined: Apr 2016
Location: California
Posts: 233
Re: How to choose a realtor for buying a house
Often a corrupt agent gets your first offer accepted because he recommends a high bid while a good agent tries to get you a good deal so it takes longer.
#27
Re: How to choose a realtor for buying a house
They could well be right.
Ours wasn't the highest offer but the neighbour liked us which was important in our street where we get on very well and have parties/gatherings on the street most weeks.
Another house got sold not to the highest bidder but because it was a family with young kids buying it. The sellers had brought their kids up in it and wanted the house to be a family home again.
You never know, you might get chosen because you have a British accent.
Ours wasn't the highest offer but the neighbour liked us which was important in our street where we get on very well and have parties/gatherings on the street most weeks.
Another house got sold not to the highest bidder but because it was a family with young kids buying it. The sellers had brought their kids up in it and wanted the house to be a family home again.
You never know, you might get chosen because you have a British accent.
That will be the first time a Yorkshire accent has brought anything good if that happens
#28
Re: How to choose a realtor for buying a house
They could well be right.
Ours wasn't the highest offer but the neighbour liked us which was important in our street where we get on very well and have parties/gatherings on the street most weeks.
Another house got sold not to the highest bidder but because it was a family with young kids buying it. The sellers had brought their kids up in it and wanted the house to be a family home again.
You never know, you might get chosen because you have a British accent.
Ours wasn't the highest offer but the neighbour liked us which was important in our street where we get on very well and have parties/gatherings on the street most weeks.
Another house got sold not to the highest bidder but because it was a family with young kids buying it. The sellers had brought their kids up in it and wanted the house to be a family home again.
You never know, you might get chosen because you have a British accent.
#29
Re: How to choose a realtor for buying a house
There are several objective reasons to accept an offer that isn't the highest - likelihood of the buyer getting a mortgage, lack of a chain/ offer not conditional on selling another house, downpayment is already in the US, so no concerns about "iffy" money. (The last one (non-UK money) bit us, twice, when selling our house in London).
Last edited by Pulaski; Jan 21st 2017 at 3:30 am.
#30
Re: How to choose a realtor for buying a house
The weird thing with my house was that I originally offered cash, but would only include closing costs if I had a mortgage. So it worked out cheaper by not paying cash.