Received an offer,our agent has never spoke to the buyer's agent only communicates via email/fax, What to do?

Asked by Diana, Florissant, MO Thu May 7, 2009

Buyers agent has never returned calls to selling agent...As a seller we are not sure if they are interested or just scared.. had 2 showings to buyers so they seem interested & actually made an offer but it was 20k off list price with the house showing excellent. very confused??

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Diana, Both Buyer And Seller, Florissant, MO
Fri May 8, 2009
We haven't countered yet any ideas?
1 vote
Diana, Both Buyer And Seller, Florissant, MO
Fri May 8, 2009
I agree but they gave us a low offer and the house is showing well.It is priced right. It's only been on the market three weeks and if she had contact with our agent she would know that we are in no hurry to move. The offer didn't come with comps or anything, also she did send a preapproval letter stating that the buyer is qualified for up to 15k over their offer...
1 vote
Denise Tower, Agent, Maryland Heights, MO
Fri May 8, 2009
Unfortunately with the state of the market these days many agents have taken other jobs to supplement their incomes. This leaves them out of the communication loop. As a listing agent I feel your agents pain. There is nothing worse than the email/fax only system. The buyers must be interested, they took the time to write up the offer. If your agent is as frustrated as you seem to be, have them contact the buyer's agents broker.

Good luck!
1 vote
Keith Sorem, Agent, Glendale, CA
Fri May 8, 2009
Diana
There was once a seller who received an low offer about two weeks after the listing hit the market. He didn't like that offer. That home sat on the market over a year before ti sold.

The rule in real estate is:
10-12 showings or one offer in the first two weeks., or lower the price.
no showings, lower the price.

Look at the link below. You are in a declining market. I would encourage you to let the market dictate the price.

Let me ask you the question I ask my sellers "If this was the best offer you were going to get, what would you do?"

IMHO you are overpriced, otherwise you'd have more showings. There was a million dollar listing in my market that had 150 people at the open house on Sunday. Ask your Realtor how many homes have sold in the last two weeks, how many reduced their price, how many went into escrow....Look at their days on market. A well-priced and marketed home will have showing activity and offers. Because yours does not, the market is talking to you.

Good luck..
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