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Jon Cooper's Blog

By Jon R. Cooper | Managing Broker in 85253

Take our offer, NO, Please take OUR offer!! Pick Me! Let me tell you why....

So, I took a new listing this past Saturday which is supposed to be exciting, right?  Well, It wasnt quite any "Million Dollar Listing" like those I have become accustomed to....In fact, this one was only $90,000.  But I took it to help out a friend who desperately needed a Professional to save her home from Foreclosure--after all, the Trustee Sale date was only 35 days away and we had little time to spare!  After all, I have had great success in closing Short Sales and my client friend needed me more than ever!

I went to this listing appointment not knowing what to expect, especially for ths being a CONDO! Keep in mind, this one only "Comp'd" at $90,000 and there was plenty of data to support that.  I had no idea this was a "little treasure" waiting to be discovered...   You pull into this gated community, all the condos there were "Tuscan" in style, there was a beautiful community pool, grassy area....everything was very clean and kept up....and then I pulled in front of my client's home.....Wow again!   It didnt look like a condo to me...she actually had a duplex in the back of the condo project....Well, it looked more like an attached patio home and with a back yard too!  Super "cute" place and loaded with upgrades....granite counters, upgraded kitchen cabinets, appliances...flooring...this one had it all!  Who wouldnt like this, I thought!  

Not dealing with this price range often, I just knew it would sell very fast.   I told my client we would do a showing "time-period" on Sunday for a few hours and hopefully that would be the only window of showings we would need....boy, was I wrong!

We had over 8 offers within the first few hours of the listing hitting the MLS!   That Saturday night, I had calls from agents until 11pm!   By Sunday morning I had a few more offers....and the emails and calls from agents were pouring in!  This certainly reminded me of the buying and selling frenzy we had in 2005!   "Could we possibly be there again?"....I asked myself....could it be?

Our showing time-period was to be 2-5 pm that Sunday.....but by 3pm, my Seller was exhausted and tired of answering the door to agents...they kept on flooding in!    My email blew up with more offers throughout that Sunday night and my phone rang off the hook.  I was exhausted taking so many calls about this listing already!  What made this so difficult is that most every agent had a "story" they wanted to share as to why their buyer should get this home...One had an elderly mother who had cancer and the daughter was going to take care of her...One had lost out on 20 offers on other homes and really really wanted this one badly!!   The offers and stories just poured in....and the agents kept on telling me why their buyer HAD to have this property!!

Monday came around and it was time for my seller to make a decision as to what offer to accept.  We had to remember that it was the "Best" offer we were looking for, so she had to make a determination as to which one was the Best for many reasons....I dont wish this decision on anyone!

I had every agent who offered emailing and calling me that Monday asking, wishing and hoping that their Buyer's offer had been accepted.   Unfortunately there would be only one...I wish I only had 20 of these listings exactly like this....OR MAYBE NOT!!  Probably not, I dont wish this on any Buyer or Seller at all!  

After my seller chose the lucky offer and accepted it, I put in in the MLS system as "Pending" and still had many calls and offer from agents.    Exhausting!   Especially when you have an agent arguing with you as to why you should have taken their offer...or 21 of them arguing with you!   Exhausting again!  This really does remind me of 2005, but probably not quite like that as I think we agents, buyers and sellers learned our lessons from those days.  

However, it is a sign our marketing is continuing to improve each day....Inventory continues to shrink and it becomes more and more difficult for a buyer to find a home under $200,000.   We are in a great market indeed, but I dont think I want a listing like that again!   Exhausting, absolutely exhausting!   Pick me, no pick me.....can we still submit an offer???   I feel bad though....for those who lost out! 


By Jeff Metcalf, REALTOR®,  Wed Aug 29 2012, 20:37
Thanks for sharing~

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