Home Buying in 01915>Question Details

Mark, Home Buyer in beverly ma

What do I look for an agent? When making an offer on land if something has been on the market for 2 years & only been reduced 10,000 how do you?

Asked by Mark, beverly ma Mon Sep 5, 2011

offer?

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6
Christine Moran Realtor & Notary’s answer
I can search which agent has done the most land tranactions in your area or who has the market share. Any agent can put an offer in if you are interested, but you need to trust them that you are not paying too much.
1 vote Thank Flag Link Mon Sep 5, 2011
Hands down make sure they are an exclusive buyer broker
Find out average negotiated discounts
Ask them what their strategy is for valuing a property
Reputable/ # of deals

It is simple to make an offer just make sure you have someone helping you protect your interests and come up with the right price and strategy.

http://territory.com/
Web Reference: http://territory.com/
0 votes Thank Flag Link Tue Nov 15, 2011
Experience, success, information. Find the one with the best of these. Then decide if their personality is one you can work with.
Web Reference: http://robertpaul.com
0 votes Thank Flag Link Sat Nov 12, 2011
Good Evening Mark,

You'll need a local Realtor who knows Beverly well and will research the area/perform a CMA for you. If this land has been on the market for two years, I bet it's overpriced.

I'd love to chat and see if I can assist. Check out my website and feel free to contact me.
0 votes Thank Flag Link Mon Sep 5, 2011
Great answer from Don below. I agree. You want an agent who doesn't necessarily have the biggest resume. You want someone who you're compatible with, who you trust, and like as a person. You could be spending a lot of time with him/her. Ask your friends, family or co-workers for names of people they'd recommend. Your agent will help with the offer. Good luck!
0 votes Thank Flag Link Mon Sep 5, 2011
Huge number of threads here on looking for an agent. Basically, interview at least 3. Look for knowledge, but also look for compatibility with you--someone who'll listen to you, respond to you . . . and respond in a way that you feel comfortable.

How do you make that specific offer? First, get an agent. Second, have the agent run a CMA (competitive market analysis) on the land. So, in that regard, make sure that your agent has experience with land, land sales, and land valuation. Once you get the CMA, you'll know approximately how much the land is worth. But land is tricky. What are your plans for the land? Just to hold onto and perhaps build in the future? Build now? Subdivide? Rezone and resell? All these really affect the value.

But once you know the approximate value to you, then you make an offer. Pay no more than the CMA. Probably offer less. Your agent can advise you on the particular strategy.

Hope that helps.
0 votes Thank Flag Link Mon Sep 5, 2011
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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