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RSS FeedMotivated Sellers |
Posted at Committed to Bringing You Home by Frank Crowley
Dec. 6, 2008
Categorized in: The Market
Real Estate Blog 113008
Motivated sellers drive the market considerably. Whether foreclosure, unemployment, moving or even moving up in home size, when the seller is motivated to complete the sale they will negotiate with the buyer. When negotiations occur, prices usually drop.
As clearly stated in another blog, by Ardell Dellaloggia:
I used to wonder why some agents chose the phrase "motivated seller!" to describe a home.
Recently I've been paying more attention to the phrase and the houses that go with. Often it is the property where you might question whether or not the seller IS truly motivated.
1) The home is cluttered and dirty
2) It is difficult to get an appointment to see it
3) The property has been on market with no offers for over 60 days without a price change
It's almost as if the poor listing agent is begging us to believe that the seller really does want to sell it, because that fact is clearly not obvious from the seller's actions to date. Sometimes the seller needs a helping hand to get motivated. Sometimes as a seller's agent we need to be the cheerleader that keeps them motivated enough to drop everything when someone wants to come and see the property. But simply putting "motivated seller" in the agent remarks, really doesn't help much. - Ardell Dellaloggia
One recent property I viewed with a client, I described as motivated because of the statements within the “Remarks” section. The home had an offer but the buyer backed out at the end of the contingency period. You can imagine what the seller had been going through. They happily believed that the house had finally sold, so they began making preparations to move; then back to waiting. So surely, they would be happy to again find a qualified buyer. That would be motivated. It would change their #1 requirement of the buyer from what price are they offering, to, are they going through with the purchase?
This is only one aspect of finding a motivated seller. A full time realtor or an astute consumer will always find these nuances in the market. The buyer who is well prepared will find the largest bargains and get the best negotiating position in any market.
Frank Crowley
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