Speaking of not my first rodeo, this is not my first run with a shift in the real estate market. I have been in the business since 2004 and selling since 2007 so I have seen a lot of ups and downs, lefts and rights. In today’s market, we have to retrain our thinking when it comes to contract negotiations because sellers aren’t totally in control anymore. In fact, there seems to be a bit of a standoff between buyers and sellers. Sellers are holding firm to their listing prices and buyers aren’t willing to make offers. So I had a couple ideas of ways to bridge the gap. Years ago, sellers would offer a commission bonus to buyer’s agents that bring a buyer, those didn’t really work because the buyer’s agent couldn’t “force” a buyer to buy something that would benefit the agent and not the buyer. One idea I wanted to mention is a seller concession to the buyer that would “buy down” their interest rate. Meaning, a seller could pay the lender a certain sum of money to bring the interest rate down to a level that makes the home more affordable to the buyer. This way, the seller doesn’t have to reduce their purchase price but the buyer can afford to make an offer. Seems like it could be a win-win with the right situation. Watch my video for all the details and several other options for both buyers and sellers to consider. As in any market, there are always opportunities! Having the right person in your corner (like me!) is a good place to start.
Have a great weekend! |
