I am in the market for a new home. I have a Realtor. If I say to my Realtor I like house #1 but I need to get the price down lower

Asked by Rickey, Havre de Grace, MD Wed Apr 27, 2011

than the List price and my Realtor says to me, you probably cannot get the price lower without submitting your offer. And I look at 2 more homes and my Realtor says the same thing, Is it time for me to get another Realtor. I am wondering when does my realtor say, I will submit your offer if this is the house you want to buy and see if you can get it for that price.

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9
Matthew T. S…, Agent, Perry Hall, MD
Wed Apr 27, 2011
BEST ANSWER
Rickey,

It sounds like to me that your agent is unmotivated and not the least bit aggressive. The sales price of a home is always negotiable---now more than ever. Hovever, buyers must keep in mind that the sales price and the terms/ conditions of their offer is negotiable "within reason." For each home you have interest in, your agent should be providing you with a fair market analysis of other recent and similar home sales within the same area, in order for you to make an informed decision for your offer price and any terms/ coditions you would like outlined.

If you believe your agent cannot represent you and your interests to the best of your advantvage, please feel free to contact me at your leisure. My brokerage and I represent buyers throughout Harford and Baltimore County and make sure each and every client is represented to the highest degree.
0 votes
I will keep you in mind. I had to two realtors from Homes for Heroes and they were not good realtors.
Flag Wed Jul 31, 2013
Dan Tabit, Agent, Issaquah, WA
Wed Apr 27, 2011
Rickey,
I'm not sure I understand your question, but sellers will generally not respond to verbal offers. If you like a house and want to buy it, the only way to find out how low someone will go is to write a sincere, committed written offer for what the home is worth to you. The seller will say yes, no or counter at another price.
Agents don't control pricing. We show homes, research areas & pricing, advise our clients, write offers, negotiate, guide a contract through inspection, financing and closing.
Is your agent doing something wrong? I can't tell from what you've written.
2 votes
Kim Mills, Agent, Crofton, MD
Thu Apr 28, 2011
Dan is correct. If you want to make an offer than it needs to be in writing. If you say you like the house for each one, how does the Realtor know which one you want? Yes they should ask, but you should also know which one it is you want to move forward on and be ready to make the offer, in writing. If you are just throwing numbers out to see if someone will take it, it doesn't sound like you are serious. Just my thoughts.
Web Reference:  http://www.kimandrenie.com
1 vote
Scott Godzyk, Agent, Manchester, NH
Wed May 9, 2012
The HARD truth is you can not get the price down unless you make an offer in writing. No seller in tehir right mind will agree to reduce a price becuase you asked. They want to know you are a serious buyer and to do that, your offer needs to be in writing. Most sellers will take less, but you have to start negotiations with an offer.
Web Reference:  http://www.ScottSellsNH.com
0 votes
Donna Day, Agent, Ellicott City, MD
Wed May 9, 2012
Donna Day Realtor 443-574-1727
0 votes
Rickey, Home Buyer, Havre de Grace, MD
Thu Apr 28, 2011
Thanks to all of you for your responses. Maybe I did not make my question clear. However, I have only been in the market for 2 weeks. I have only looked at 5 homes. Of these homes I liked 2 but loved 1. I knew my time frame and I was not looking to first waste ayone's time or drag out my home search by looking at dozes and dozens of homes. I only want to buy 1. After expressing my concerns with my Realtor, they have now submitted my offer which was very reasonable and I am now looking forward to the benefits of home ownership. I understand what Sales Reps go thru and I would not dare waste anyone's time. Thanks again.
0 votes
Jonathan Olu…, Agent, Annapolis, MD
Thu Apr 28, 2011
Just want to let you know that you made a very wise decision looking to buy a home now because Interest rates are favorable and sellers are very motivated to sell. “Now is the PERFECT time to buy!” but I second Kim Mills as well as Dan Tabit and I hope this isn't my client in disguise. I have shown to her over 30 houses with 16 weeks. She kept telling me at every houses she saw that she loves it, ask for us to offer ridiculous prices even after showing her the CMA and also quick to say we should keep looking at houses that prices are dropping everyday. At the end of it all, we're blamed for not been productive. My advise, the more houses you view, the more confuse you get. Make up your mind and go with the one that matter most to you. It's buyers market, yes but in the same token it should be a win win situation for everybody. Offer a reasonable price and you wouldn't regret it.
0 votes
Alex Saenger, Agent, Rockville, MD
Thu Apr 28, 2011
Hi Rickey,

From what I am seeing here, it looks like you are searching for a great deal. Good for you! As a buyer you want to get the best possible deal you can. But at the same time, you want a house that fits your needs and will turn a profit when you go to sell it. If one of my clients asked me the questions you are asking, I would do one of three things:

1) Call the listing agent and ask them, "How flexible is your client with the list price?" in some cases, the listing agent may disclose information authorized by the seller. If the house has been on the market a long time, you will have more options. But that same conversation may reviel that if they go lower, they may be a short sale. Or you may discover they are just weeks away from a Foreclosure. A lot can be learned from this quick call.

2) instead of writing a full offer, you can put together a letter of intent. That is just a one page summary of what you would bring to the table and offer. Now the other agent will not like this, because as stated below, most Listing agents want to see your full offer with all the right papers. But in some cases, like yours, it might make sense to see if they will go along with your ideas for buying the house. If so, then a full offer can be written and the real negotiations can start.

3) If you really love the house and just have to have it, write the FULL offer. The "best deal" on a house is not always the cheapest price. If you really want a house, your agent will need to do what it takes to WIN the house for you. They have to read the other side to find out where can we push, and where do we need to give. That is our job = to get you the best "deal" for you and that house.

Feel free to contact me if you have any other questions along this line.

Alex
0 votes
Phil Rotondo, Agent, Melbourne, FL
Thu Apr 28, 2011
Ricky;
You found 3 homes that you "need" to get the price down lower. What's the need?? If it's not the obvious need I'd surely like to know.
Web Reference:  http://www.321property.com
0 votes
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