Comments on: Don’t Outbid Yourself http://raincityguide.com/2006/08/26/dont-outbid-yourself/ Seattle's Leading Resource for Real Estate Information Fri, 19 Mar 2010 05:20:19 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Carol Williams http://raincityguide.com/2006/08/26/dont-outbid-yourself/#comment-13990 Carol Williams Sun, 27 Aug 2006 04:07:48 +0000 http://raincityguide.com/2006/08/26/dont-outbid-yourself/#comment-13990 Ardell, Great idea! Ardell, Great idea!

]]> By: ARDELL http://raincityguide.com/2006/08/26/dont-outbid-yourself/#comment-13941 ARDELL Sat, 26 Aug 2006 23:52:52 +0000 http://raincityguide.com/2006/08/26/dont-outbid-yourself/#comment-13941 Pretty much when I write about things without reference to area and specifics, it is something that is happening as I speak. I couldn't believe it...I mean the road noise was so loud that they had music playing 24/7 in a vacant house. But...all things considered, buyers wanted to write an offer only to find that they didn't WANT our freakin' offer until...next week! That's all I can say cause...it's happening as I speak. Incredulous. Somebody better teach that class on "Striking while the iron is hot!" <strong>Forget about teaching the agents. Lets offer classes for consumers!</strong> I always wanted to be Microsoft's in house training agent on buying and selling property without an agent. I know. I'm a heretic. Oh well. If they think they are going to do it, someone needs to be the in house real estate consultant. Now that they have their towels back, maybe they can afford me...maybe not :-) Ever hear the one where the Microsoft employee tried to submit his own offer to a listing agent written <strong>on a napkin!</strong> LOL Come on guys. Time to get it right because there could be a buyer's market heading this way. Time to stop the "How to Shoot Yourself in the Foot" training and move up the food chain.  If Paul Allen were still "there", he'd hire me in a blinky. Pretty much when I write about things without reference to area and specifics, it is something that is happening as I speak. I couldn’t believe it…I mean the road noise was so loud that they had music playing 24/7 in a vacant house.

But…all things considered, buyers wanted to write an offer only to find that they didn’t WANT our freakin’ offer until…next week!

That’s all I can say cause…it’s happening as I speak. Incredulous. Somebody better teach that class on “Striking while the iron is hot!”

Forget about teaching the agents. Lets offer classes for consumers!

I always wanted to be Microsoft’s in house training agent on buying and selling property without an agent. I know. I’m a heretic. Oh well. If they think they are going to do it, someone needs to be the in house real estate consultant. Now that they have their towels back, maybe they can afford me…maybe not :-)

Ever hear the one where the Microsoft employee tried to submit his own offer to a listing agent written on a napkin! LOL Come on guys. Time to get it right because there could be a buyer’s market heading this way. Time to stop the “How to Shoot Yourself in the Foot” training and move up the food chain.  If Paul Allen were still “there”, he’d hire me in a blinky.

]]> By: Merv http://raincityguide.com/2006/08/26/dont-outbid-yourself/#comment-13913 Merv Sat, 26 Aug 2006 21:06:04 +0000 http://raincityguide.com/2006/08/26/dont-outbid-yourself/#comment-13913 Thanks for the article Ardell. We saw all kinds of ridiculous positions sellers took in our heated buying frenzy from mid 2003 to May of 2005 here in Northern Virginia. Your advice and outlook to the future is spot on! We avoid escalation clauses like the plague. Instead, we try to position our clients with the BEST (caps but not <b>BOLD</b> terms: no home sale, large deposit, PRE-APPROVED removing financing contingency, quick settlement and, occasionally, a personal letter from the buyers on why this is the perfect home for them. We would RARELY advise against a home inspection. I mean almost never. Exception, maybe, if a home is relatively new (like 1-2 years old). This approach has worked in many cases and not in others. If a client insists on escalation, we try to put a reasonable cap on it. "If you don' get this one, there are more out there. Just don't get caught up in frenzy." As listing agents, we advertise that we present all offers when submitted. The vast majority of our sellers just want a fair deal. Occasionally, some get greedy. Not so in our current market which is nearly dead. Those that want to be greedy now, won't sell. Keep up the great sharing of your experience. We always learn a lot. Thanks for the article Ardell. We saw all kinds of ridiculous positions sellers took in our heated buying frenzy from mid 2003 to May of 2005 here in Northern Virginia. Your advice and outlook to the future is spot on! We avoid escalation clauses like the plague. Instead, we try to position our clients with the BEST (caps but not BOLD terms: no home sale, large deposit, PRE-APPROVED removing financing contingency, quick settlement and, occasionally, a personal letter from the buyers on why this is the perfect home for them. We would RARELY advise against a home inspection. I mean almost never. Exception, maybe, if a home is relatively new (like 1-2 years old). This approach has worked in many cases and not in others. If a client insists on escalation, we try to put a reasonable cap on it. “If you don’ get this one, there are more out there. Just don’t get caught up in frenzy.”

As listing agents, we advertise that we present all offers when submitted. The vast majority of our sellers just want a fair deal. Occasionally, some get greedy. Not so in our current market which is nearly dead. Those that want to be greedy now, won’t sell.

Keep up the great sharing of your experience. We always learn a lot.

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