Alex is a friend of a friend looking to buy her first house. She heard about my Fee-efficiency program and decided it was right for her. I had just moved to Melbourne Beach and she’s in Fort Lauderdale. (No matter, ours is a statewide service.) After previewing a few houses with our showing agents she found “THE ONE”. On our first chat, Alex mentioned she had an offer in mind but was afraid it would offend the Seller. “Don’t’ worry about that” I said, “What would your offer be?”
$570,000 was her response.
Some important information before we continue:
- The Seller had it listed for $589,900.
- Alex was concerned $570,000 would insult the seller.
- She was in love with it and didn’t want to lose this house.
- Comparable sales show it worth $550,000 +/- (although this house had lots of upgrades.)
After some discussion, I prepared and submitted Alex’s initial offer of $525,000. As expected it was met with the usual response from the listing agent… “That is way too low, I don’t even thin the seller will counter that offer.” But the Seller did counter “$565,000, but that’s the Seller’s bottom line.” the listing agent responded. NICE, we got this. I brought the counter to Alex and once she calmed down from the realization this may work, I explained to her we could get it for less. After a few hours passed I responded to the listing agent thanking him for the counter, but the number is still too high. “Alex loves this house. She’s willing to pay market value, but I’m having trouble finding comps to support anything higher than $540,000. If that number is not acceptable to your client, please send comps to justify a higher price.” The seller responded with $545,000. I told Alex that I believed we could hold to our number and probably still get it. Her response was “Since I’m getting back $12,850 from the commission I’m still way ahead of the game even at $545,000.” Agreed, I responded, and that evening we had a fully executed contract on “THE ONE”.
Everything went smoothly after that. With all of her loan documents in order, Alex’s only request was to have an agent to join her for the inspections. With a few minor issues negotiated by the seller leaving some personal property and we were off to closing. WINNING!
- Alex (the buyer) wins. She got her home for $25k less than expected and saved $12,850 in commissions.
- The Seller wins. He sold to a buyer with added buying power, getting $5k more in the process.
- The Listing agent wins. He sold his client’s house for $5k more than apparent market value.
- I win because I made my fee, and earned a loyal advocate all without leaving my office.
Verified Realty Advisors… Your interactive real estate services based on fee-efficiency.
1009 Atlantic St. Melbourne Beach, FL 32951