Home Buying in Sugar House>Question Details

Chrisikle, Home Buyer in Boston, MA

is it better to write "make offer" in comments or to go down a few (2-3) thousand on listing price.?

Asked by Chrisikle, Boston, MA Tue Jul 2, 2013

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I know this is an old question, but I'm answering it anyway. If you haven't sold your home yet, hopefully it helps you. If you have, then maybe it can help someone else with this or her home currently on the market.

I would hesitate to write "make offer" under comments. A comment like that would be more appropriate for a used sofa being sold on Craigslist. I personally feel that it gives a sense of desperation. If I represented a buyer trying to purchase a home stating "make offer", I can guarantee you, that you would not like our first offer. I would also shy away from writing "motivated seller" unless you real are in a urgent rush, a distress situation or in a Short Sale situation.

Try other options in attracting attention to your home. I'm not sure what your total asking price is on your home and how much of a difference 2- 3K would affect your listing. This a discussion you need to have with your Listing Agent. Incentives may be a way for you to go as well.
1 vote Thank Flag Link Fri Sep 13, 2013
well I think that saying "make offer" sounds like we are desperate but we are not, the one who is desperate is the broker who signed with us. she made a deal that is a flat fee so no matter what is drops to she makes that money. garnted she has to have it sell first. so after starting at 295,000 we signed with broker and she said go to 284,000 so we did and nothing. then 279,000 and some but nothing then 269,000 now we get two offers and they are 15 and 20 K below that both were none negotiable. this is right after make offer. we are getting one to two agents showing house a day but they all say oh it only has one bath. we have 4 bed one bath one kit one fam one living one office and one wash room and a storage room that is subroughed for a second bathroom. stump and drain and pipes for second bath used as storage now. the house that is about five away that is two bed two bath and has smaller lot and smaller house is the closest comp to us and it sold for 282.000

we have 4bed and one bath. and cant get it to go for 269,000 what?
1 vote Thank Flag Link Tue Jul 2, 2013
Hi Chrisikle, If you haven't had anyone "make an offer" yet and home has been on the market longer than 30 days, consider a price adjustment. Do a new CMA to see the best price point to get the most activity. It depends on comps as to how much of an adjustment.
1 vote Thank Flag Link Tue Jul 2, 2013
In my area (SLC, UT) whenever a seller changes their price on the MLS, even if it's just by one dollar, anyone who has an automatic search set up on the mls will be notified of that house. So reducing the price can call some attention to your listing. I've found that doing a price reduction on Thursday packs a nice punch because the buyers who are getting ready to see houses on the weekend will find your house. If you aren't getting enough calls on your house you may need to consider a price adjustment. Also having high quality photos and a sharp looking house really helps! Good luck!
1 vote Thank Flag Link Tue Jul 2, 2013
on ksl look at homes and type in 84109 in the zip field and leave all else blank. it will pull up "charming sugarhouse home" simp ave. please take a look and tell me what i can do to do better. thank you so much!
Flag Tue Jul 2, 2013
If you are the BUYER; why are you asking?

"make offer" makes the seller sound weak and unsure of their price.
"2-3 thousnd is insulting, (for a $300,000+ house).

Does that help?
1 vote Thank Flag Link Tue Jul 2, 2013
im selling. started at 299,000. but went to 282,900 when i signed with agent. then went to 279,00 then 269,950. i have had one offer just after going down that ten K and the offer was this. (9pm written offer comes in and they say 255.000 and need to know by noon tomorrow. and NO counter offer. i say well try 260,000 and its a deal. but they say no we said no counter. so we say no. make offer sounds like we have a crap home but that is NOT the case, its a large lot for the area and its nice and updated. we are getting an agent a day and sometimes two that bring buyers by. so we hit the right price point but it has one draw back only one bath. so comps say that if we have 2 bath we could sell for 289900. easy. its 4 bed one bath one living one family one kitch 100 up 80 down 1745 and .17 acr in sugar house. updated exterior and corner lot so side has RV parking secured. idk i think my agent is not trying cuz we said flat fee for him. he gets x amount no matter what we sell for. sugestio
Flag Tue Jul 2, 2013
Great question.
Try to recall how you responded the last time you hear a 'make me an offer' request.
Such requests do not appear except before a reluctant buyer.
"Make an offer" are the words that doom a home to stay in the For Sale status a long time.
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The easiest and brainless way to proceed is just keep dropping the price. However, whether this positions your 'aged' listing in a manner benefical to you is suspect.
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You should focus your energies on where you went wrong.
Fix it.
Start over.
0 votes Thank Flag Link Fri Sep 13, 2013
Get with your Realtor on this and they will help you decide which option is best for your situation.
0 votes Thank Flag Link Fri Sep 13, 2013
In my experience I have had better results with the price reductions. As others have mentioned, changing the price will cause the home to refresh on Auto Hotsheets for agents and their clients that are setup with this search criteria. Often, sellers will expire/withdraw their listing and re-list it the same day. This used to be a technique used to trick the MLS into showing the listing as a new listing. It will still show up for a day as a new listing, then it will show the CDOM (continuous days on market) as the total time on the MLS. Sometimes it takes a few small price drops, open houses, and advertising to get your listing to the right buyer.

I looked up your listing and have friends that live in your neighborhood off Elm st and I have driven by your home Many times. It may be a better option to do some upgrades/add the bathroom you mentioned to get to a price that is acceptable to you. It also looks like your home is expired on the MLS, if you would like a second opinion on what I can offer in selling your home, the time it will take, and the differences between a flat fee agent and one that works off a set commission.... I am happy to help or answer any questions you may have and am available via phone, email, or text.

Best of luck with selling,

Daimon Bushi
Equity Real Estate- Luxury Group
Servicing Park City, Salt Lake, and the surrounding areas
Cell: 801-859-8566 or 435-200-4959
DaimonBushi@gmail.com
0 votes Thank Flag Link Fri Sep 13, 2013
Rachel is right. Every time you lower the price, $10 or $1,000 you get 'refreshed' on the website (at least in most areas).

Since you cannot take a 'shepard's hook' and drag someone in to buy your home, you have to 'entice'. You can entice by having a stellar property, a good price, good terms, etc.

It sounds like you need some honest feedback on price and showing condition of your property. In Salt Lake, a seller can ask me for help even if I am not the listing agent and I could give an 'opinion' on both showing and price. It might be worth it to try to get a 3rd party opinion.

The bottom line is that your home is compared to other homes by real people just like you. If someone thinks they can get a better deal elsewhere than that is precisely what they will do. Unfortunately it doesn't matter what a seller thinks there home is worth, it only matters what the buyer thinks it is worth.

If you have 2 low offers, that is a strong indication that you are over priced! Than may make you sad, but if you really want to sell then you have to be able to take feedback and use it.

Good luck.
0 votes Thank Flag Link Thu Jul 11, 2013
This is good advice, although you should probably wait for more than two low offers prior to dropping the price. Also, you should consider where the offers are coming from: are they in state, from people already in the area, or are they out of state? Often an out of state first time buyer will bring the price expectations from their previous location to the new market - think of the Californian loaded with cash from the sale of a property there coming to a less expensive market like Salt Lake. The other thing to consider is the time of year you are getting low offers.

On the other hand, be honest with yourself about the property and try not to overprice it in the sense that you are hiding its true value from a potential buyer. You won't get far with that, and any agent worth their salt will alert their buying client to your mark up.

Let the property sell itself. It is a rare situation when you truly have to sell, so don't advertise that you are "motivated" - all sellers are
Flag Thu Sep 4, 2014
Neither. Have your agent help you figure out your needed price. You will get offers from that.

Good Luck!
0 votes Thank Flag Link Tue Jul 2, 2013
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