General Area in Tallahassee>Question Details

Margaret Wei…, Home Buyer in Crumpler, NC

If you lower a price on your house for a buyer. Would it be the realtor responsibility to ask if we would lower the price on the listing ?

Asked by Margaret Weiss, Crumpler, NC Thu Dec 13, 2012

1112 Coe Landing Rd
We lower price for a buyer that did not go through. But is it the realtor's responsibility to ask the seller if they wanted to lower the price on contract even if the contract is for a short time.?

Help the community by answering this question:

Answers

5
No. The realtor is your agent. He / she can't read your mind. It's your responsibility to tell your agent to lower the price.
0 votes Thank Flag Link Mon Jan 21, 2013
I am not sure of IL Nor WI Real Estate law nor their practice of Real Estate sales, However, I have some practice in Florida to which I know a little about.

Listing price is not issue on anything regarding a contract price. You may have a listing price ot $10,000,000 and accept a contract at $1,000. Its up to the seller. So, other than a marketing device, listing price has nothing to do with selling price.

Realtor may or may not suggest a listing price that might have some impact on how fast the list sells. At the end of the day, some bank will get an appraisal of the property which will have huge effects on what the property sells for.

While we might agree that an Appraisal should not have such huge effects on a faiir market transaction between two people, in fact it does.
0 votes Thank Flag Link Thu Dec 13, 2012
1. You have an offer from a Buyer for less than the listed price.
2. You accept the offer that is less than listed price.
3. The offer does not go through and the property is back on the market.
4. At that point, the Realtor would probably ask you or suggest to you that you drop the listed price...since you were willing to take less.
5. Or you as the Seller could tell the Realtor that you wanted to drop the listed price.
6. A property is only worth what one Buyer in the present market is willing to pay. Pricing in a nutshell:
the property has to be priced so that Buyers come & look & make an offer. If Buyers are coming & looking but not making an offer...you are helping sell someone else's property.
I hope this is helpful. If you have other questions feel free to contact me or visit my website.
Ann Fisher, ABR, CRS, GRI
Broker/Owner
Ann Fisher Realty, Inc.
http://www.AnnFisher.com
annfisherrealty@comcast.net
850-545-7275
0 votes Thank Flag Link Thu Dec 13, 2012
Absolutely. It is the Realtors responsibility to market and list a house for what the sellers agree to. A Realtor uses her knowledge and experience along with current Comparative Market Analysis to make suggestions for the seller, but ultimately the listing price is up to the seller.
0 votes Thank Flag Link Thu Dec 13, 2012
When a buyer makes an offer to purchase the listing agent should give the seller the offer and it is up to the seller if they want to accept, reject, or counter the offer to purchase. The agent can make recommendations to the seller but it is ultimately the seller's choice.
0 votes Thank Flag Link Thu Dec 13, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer