It's exciting when you put your house on the market and get an offer right away. But if it's not quite your asking price, should you take it...or wait for something better to come along? Join us to learn the best strategies for both buyers and sellers.Video Transcript
good morning morning peeps good morning good morning good morning good you musical theater there we go she’s pickle lady her sidekick skunk Pig we uh realtor here in Prescot Arizona and we’re coming at you live that’s right well that’s recording but we’re recorded it live yeah yeah alive now we’re not dead so not yet I would not make a good video yeah that could be interesting could be on one of those crime shows the case of the Miss Missing realtor so this is this is they get rid of you right away there you go they’d take me but they’d leave him yeah I think they would this is uh this is a video primarily for sellers primarily for sellers so uh you put your home on the market you price it kind of where you think it should be maybe a little higher than what you think it ought to be uh give you a wiggle room I’ve heard the the wiggle room a lot wiggle wiggle and then you get your first offer and the offer is not what you think it ought to be right most people think um we’re back in covid times when things were booming and then you’d get 10 offers and you were coming in way over price that’s over okay so you have to adjust your expectation yes we’re kind of back to the old-fashioned days again where maybe you might get one or two offers um but people are really not coming in over uh and some aren’t even coming ask if the house is brand new on the market uh they might come in and ask because they know you’ve barely been on the market and they want to wrap it up if it’s been on the market much longer than that um they might want to nip a little bit and then you as the seller will say well I don’t want a nip I want I want what happened in Co Let It Go yes let it go let it go that’s a song any I know that I know that so one of the uh one of the old adages of real estate and maybe you’ve heard this is that usually your first offer is your best offer yep which sounds counterintuitive uh and people have heard it but most people don’t believe it so we thought we’d talk about why that is yeah why first is probably going to be your best especially if your first offer is Cash yeah honestly Take the Money and Run yes do not quibble and go back and forth um you irritate you know the especially if you’re the buyer if you keep trying to go back and forth and renegotiate after a while the seller shuts down and says never mind so go in with your best and final the best that you can and if you want to nip them a little bit that’s fine but if it’s cash and you’re the seller you really should grab that yes seller I mean if you get an offer that’s all cash and maybe it isn’t coming in at 500,000 that you wanted but it’s coming in at 480 you’re quibbling at that point grab it um particularly now that now that our price points are getting higher and higher you know it’s it’s if you’re selling a home for $250,000 $20,000 is a lot if you’re selling a home for one and a half million $20,000 in the scheme of things is not so much let that go let that go and just especially cash is King as we all know you’ll have a faster close it’s not subject to appraisal um it it it just is a much simpler faster process so if you pass on that and say no you know uh I wanted 20,000 more you may sit in the market another four or five weeks of Hell of showing your house and keeping it clean till that next buyer comes along so if it’s within reason I would never say if they come in 100,000 less oh yeah no absolutely not I mean what’s fair is fair yes but you know yeah well the thing is too you think okay well if I turn this offer down they’re going to think about it a few days and they’re going to come back to me no they’re going to go look at other homes they will because they’ll be irritated and they’re like I gave you a great offer and it was all cash really or you know we have a good loan and we’re just we’re putting down a huge down payment this is a good offer um it kind of turns people off very rarely will they come back and circle back so our deal is if we think it’s a really fair and decent price and within reason and reasonable yes just take it and and I I mean I’ve sold many houses of my own it’s torture you know that it’s torture when you’re out there trying to sell a house and keep it clean and leave and and people know that yeah and people know that and so if you get a really reasonable good offer I I you know we always say think about this hard don’t just shoot it down and and here’s the other thing this is the reason why your first offer is usually your best first first of all particularly in presc first of all in Prescot now that CO’s over it is very rare for us to have a bidding war buyers for the most part are coming in from out of town they’re not they’re not here if you’re in a place like Phoenix and all the buyers are already in Phoenix they’re there they can fight with one another generally you know you deal with one buyer at a time as they come in town so the the bidding war thing has gotten very over so you know swallow that and digest that that’s an important piece of information the other is uh there are people out there they refuse to pay list price they’re going to nip you either a little bit or a lot they’re not going to be this just against their religion okay so think about these people for a minute if you have been on the market for one day how much are they going to nip you not much CU you just went on the market it’s a new home it’s still got a lot of showings and you’re not tired of selling yet you’ve been on the home you’ve been on the market for 90 days now they’re going to nip you harder they are that’s why the because they know you’re tired they know you’re tired they know you’re worn out that’s why y That’s why because the the chances are the buyers are not looking at the home as a seller they’re looking at as a buyer they don’t want to pay list they want to pay something less and the longer you’ve been on the market the more they’re going to nip you yeah so look long and hard at that first offer because there’s a lot of information there that is somebody who’s nipping you but the people in the future are probably going to nip you more even more even more because they know you’re you’re desperate not that you’re desperate but you might be I’ve got to move my I’m trying to buy this other house this one has to sell yes and it just creates so much more anxiety and uh fear and Desperation you don’t need all that you don’t need all that so now we’re not talking about lowball offers absolutely not that’s a different animal don’t even do that we don’t deal a lot with investors but typically when we do they they have a tendency the lowball which is really frustrating for everyone um we’re not really talking about that we’re talking about people who are making what they think is a a fair offer for home pretty close to Market yeah that might be coming in 10 or 15,000 and less it’s a respectable off respectable off um I think lowball people who deliberately lowball it’s a lack of respect and and I kind of steer away from that because it’s you know let’s not insult people I mean unless the home’s been on for a year oh yeah you know and it’s obviously there’s some issues okay that’s a different story but uh yeah the investors are you want to create goodwi and Good Karma with this future business transaction and if you come in rude and you lowball and you this and you that and you keep going back and forth and Dickering it shuts people down yeah so for buyers uh I’ll share with you my my U my um negotiating secret as buyer you want to look for the O screw it price okay that’s that’s going to be the best price you can get a home is the O screw it price yes so here’s here’s the way that works so um if you price a home respectively but kind of on the low side chances are the seller is going to counter if they counter they’re going to count counter pretty close to list price okay the best first offer you can make is what I call the O screw it price you give the seller the price not really happy with the price but it’s close enough is it really worth countering I don’t know I screw it I’ll just take it I’ll just take it that’s the the best possible price you can get we love that that little psychological we find try to find that sweet spot that people are like go a little lower than that they’re going to counter you end up paying more yeah so the best possible first offer is the O grw price that’s right so yeah that’s our yeah that’s a good tip whole bunch of tips buch we gave a whole bunch yeah if you like tips the place to go is pickle 411.com that’s our free information site whether you’re a buyer seller somewhere in between there something waiting for you that will Amaze Astound inform entertain and just overwhelm you with our generosity because it’s all free well and sometimes anger you yeah I love those angry emails angry emails angry emails yeah we get some of those it really starts my day off great people we tell it like it is if you’re not happy with that don’t shoot the messenger don’t shoot the messenger we’re just telling it as best we are truthsayers yeah truthsayers soothsayers yeah although I can say sooth soothsayers sooth I can say it but I’m not a soothsayer I’m a truthsayer or truthsayers truth truth soothsayers TR all right I give up okay hope to see you soon come visit us uh give us a call we’ll take you around we’ll have a grand old time have a great rest of your day bye bye
