Jr,

Sorry, I will find the appropriate web site that posts reviews on real estate agents so that I can provide feedback on the services that I received during the transaction. Agents should not be afraid but welcome feedback. If they have provided excellent service then other folks can see this and contact them for representation. If the review is negative then clients will go elsewhere.

David

David, I am appalled by your post, and I would suggest you remove it immediately. This agent is not here to defend herself, and you are maligning her in a public forum, without revealing your own identity.

If you are working with an agent, they can provide you with information on similar homes that sold within the past few months and the price that they sold for. That will give you a starting point (and you can use that information in your negotiation). The other thing your agent cando is find a few comparable homes that are currently on the market for the price you want to offer, or close to that price. When they present your offer, they can show the sellers' agent and the seller what else you can buy for the same money, or less, if you don't buy their clients' house. This is a very effective negotiation technique that I use.

Other factors come into play in the negotiation process and can affect the price. How quickly you want to close, whether or not you are putting a significant amount of money towards earnest money, if you have a mortgage contingency, whether or not it is a short sale, etc. For example, if you must close in 30 days, but the sellers don't know where they are going yet, this might mean that they would have to rent for a while and move twice - this will affect their willingness to take a lower price. Your agent needs to try to find out what is most important to the seller and use that to your advantage.

If you would like to discuss this further, please feel free to contact me directly: nancy@NancyKarp.com, 847-226-5594

I totally agree with J R and may only add that not all areas there are the same, some are more desirable than others, and it affects the way you should negotiate the price. Basic strategy for a buyer is to determine: 1. How much you want to pay. 2. If you can get the mortgage you need. 3. Write an offer and start negotiating. It happens more often than not nowadays that a buyer is able to get the price exceeding his expectations. Feel free to contact me with further questions. Deerfield is a part of the North Shore Communities I work with.

Listing prices are irrelevant. Selling prices are what you should be focusing on. If the house is listed 20% over what comparable homes have sold for, do you want to get 5% off and pay 15% over what it's worth? Especially on an $800,000 house! Get a realtor to do comps for you.

The appropriate percentage below list price will vary greatly. Some homes are priced well. Others are overpriced. Some Sellers are more motivated than others.
The question you should be asking yourself is how much are you willing to pay for a certain home. You've looked around and know what you want & how much you're willing to pay. Would you buy one home instead of another just because the Seller came down more off his asking price. By that logic, you'll buy the most overpriced home from the most highly motivated Seller. Is that really what you want?

Without knowing the location of the property and additional details your question is one that can not be answered accurately.

The strength of a Re market can vary greatly within a specific community, from one area or subdivision to another. Additionally, in a changing market such as the one we are currently in, home values are adjusting on a regular basis leaving many homes that have been on the market for a longer period of time without price decreases, over prices and out of step with the current local market trends.

Our recommendation is to identify a local real estate professional that can speak accurately to the specific local market conditions for your home. Let them provide you with the information required to make an informed decision that is based on more reliable facts than approximations and guess work.

We would be happy to refer you to a top agent in your location.

Good luck

The Eckler Team
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363