Question Details

Williamb, Other/Just Looking in North Carolina

Is the listed price of real estate negotiable?

Asked by Williamb, North Carolina Fri Mar 23, 2012

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of course, your agent will negotiate on your behalf
1 vote Thank Flag Link Sat Mar 24, 2012
As they say everything is negotiable. Having said that, the extent to which it is negotiable will depend on how the price stacks up to market value. Have your agent pull the comps and guide you in negotiating the price.
0 votes Thank Flag Link Sun Mar 25, 2012
It depends, keep in mind that if a property is listed on target for today's market, or slightly below, multiple offers may occur; therefore always review comps with your agent beforehand, recently sold similar properties in the immediate area.
0 votes Thank Flag Link Sun Mar 25, 2012
Absolutely. Just as Buyers are not advised to make a single "take it or leave it" offer, Sellers understand their going to negotiate. The secret to any successful negotiation is understanding before you begin that it must work for both sides. Each side needs to give so that at the end of the day both can honestly say, "I didn't get everything I wanted and neither did they, but it's fair and I can live with it"

I believe this is why having an experienced Buyer Broker is critical. Buyers need someone who can quickly gather up all the information about a property, and comparable properties that have sold within no more than 180 days and accurately analyze this data and present it both to you the buyer to educate you on the true value of the property as determined by the market; and at the same time use this data when presenting your offer so that the Seller sees exactly what you're looking at and understands the reasoning behind your offer.

I don't know where you're looking to buy, I work in the Research Triangle area and would be happy to assist you if this is where you're looking in North Carolina. If not, check out the link below to a recent blog I've posted here on Trulia on how to find a great Realtor.

Good Luck and Happy House Hunting.
0 votes Thank Flag Link Sun Mar 25, 2012
Yes, everything is negotiable within reason. Although 76% of sellers believe their home is worth more than today's market will bear, there are homes currently available that are priced to sell. Therefore, the "One Size Fits All" approach will not apply to every home you want to put an offer on.

This is where Buyer Broker agency comes in. In this position, you become the client......your real estate agent can pull comparatives and advise you of the proper offering price to put in in order to have a better chance at obtaining a particular home.

All the best
0 votes Thank Flag Link Sun Mar 25, 2012
Hi William

The list price is not always the sell price.

In real estate, everything is negotiable. But one must always negotiate wisely and surely, not necessarily aggressively. It's a tricky part...your offer can be countered, but it can also be rejected!

Are you asking this from the standpoint of the buyer or the seller? The strategies to negotiate are different depending on whether you are selling or buying. They will also depend on the condition of the property, the days it's been on the market, the comparables, the motivation of the seller, the motivation of the buyer, the inventory, the trends. Your agent can help you gather data such as the List Price/Sell Price ratio etc...

Best of luck!

PS: do you want a Carolina agent referral?
0 votes Thank Flag Link Sun Mar 25, 2012
Generally, it is negotiable, and negotiating the price can be exciting as well as frustrating. There is listed price as well as the lowest price the seller is willing to accept, so the name of the game is guessing (educated guess) what the lowest price might be with the help of a number of website as well as your agent.
0 votes Thank Flag Link Sat Mar 24, 2012
Absolutely. It's one of the main reasons buyers need to be represented by an agent. When you find a home that you like, your agent should do a Comparable Market Analysis to help determine the market value of the home and guide you in determining your offer price. It's important to look at the data because, let's face it, the owner can ask for anything, but that doesn't necessarily mean the home is worth what the owner is asking.
0 votes Thank Flag Link Fri Mar 23, 2012
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