I keep seeing emails flying about saying- motivated sellers, make an offer. Unfortunately, most sellers don’t realize (or won’t admit to themselves) that this tactic doesn’t generally work. There are a number of flaws with this strategy:
- How many people truly get the “memo” that the seller is motivated? A few real estate agents? Certainly not all of them, or even a majority of them.
- Buyers (who may not even be working with an agent) may not visit the home or look at it on the web because they don’t want to look at something they can’t afford. OR, because the listing price isn’t reduced in the multiple listing service,they just simply don’t know about it (their searches never find it!).
- Many home buyers (and often agents) don’t want to offend sellers by writing a lowball offer. We know you don’t get it. I don’t get it. But it is true, the majority of people don’t want to write a really low offer.
What does truly motivated mean? What it means to a seller might be very different to a potential buyer. To me (a real estate agent), it means they are not motivated enough to put it in writing.
If a seller is truly motivated, their motivation needs to be reflected in a good healthy price reduction- in most cases at least five percent!
MOTIVATED SELLER??…..(should =) BIG PRICE REDUCTION