Hi. I'm looking for advice on how we can motivate the seller to come closer to our price.

Asked by Hperterp, Grand Rapids, MI Thu Oct 4, 2012

We are negotiating with a seller and though our price is near to theirs they seem very reluctant to move in our direction. We've researched the market with our realtor and it's clear they are trying to over charge us.

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Brek Schutten, Agent, Grand Rapids, MI
Thu Oct 4, 2012
Sometimes sellers just aren't that motivated to move. Many people list their homes thinking that if they can get a good offer for it they would be willing to move, but if they don't, they would be perfectly happy with staying where they are. One thing you can do to try to help motivate them is make sure the rest of the terms of the contract are exactly what they are looking for. If you are looking for immediate possession and they want 30 days after close, that will just weaken the offer.
Another thing you can try to do is figure out their motivation for selling. If they are looking to move up to a bigger home, you might want to have your agent bring up to their agent that the interest rates and home prices are very low right now, and if they want to move into a higher price range then now is the time to do it. Talk to your Realtor and he/she should be able to try a few things with it. I hope this helps.
Web Reference:  http://www.brekschutten.com
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Ashley Fann…, Agent, Grand Rapids, MI
Mon Oct 22, 2012
I would have your agent do a CMA (comparative market analysis) report, this would help to show the seller all the houses that have been sold in that area and present them with an average price. Before we go to listings I do a CMA and print out two or three that I think look most like that house. I would also try pointing out the SEV (State Assessed Value) of the home if it's lower than the amount they have it listed for. Hope that helps!
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Marge Bennett, Agent, Fort Myers, FL
Thu Oct 4, 2012
find out what they really want. Are they stuck on that price because that's what they owe? If so, they need to wake up and be realistic. But maybe they have other hot buttons. If you can find out what they are, you might be able to negotiate successfully. It's not always the price.
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Brian Lorenz, Agent, BYRON CENTER, MI
Thu Oct 4, 2012
Have you had your Buyer's Agent show the seller some comparatives (similar homes that support your offer)?
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Annette Law…, Agent, Palm Harbor, FL
Thu Oct 4, 2012
Hello Hperterp,
Over on the other tread there is a seller asking, "How can I motivate the buyer to come closer to our price?"

Every buyers believes the paid to much.
Every seller believes they sold too low.
Not much has changed.

If you can find an equivalent home for a lower price, buy it.
If not, you may need to understand, things are rarely as 'clear' as we want to believe.

If you are a real negotiator, determine the sellers 5,6 and 7 and focus on these REAL reasons to sell to you today, at your offered purchase price.
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