Salem Oregon Real Estate Blog - Welcome to Salem, Oregon
a blog-journal with thoughts and notes by David Brown, Broker,
(pictured with real estate mascot-dog Shaman)
Prudential Real Estate Professionals
1220 20th St SE, Salem, OR 97302
(800) 255-1909 ext. 1282 (503) 371-3013
"Welcome to my real estate blog here in Salem Oregon ! Now that you're here, keep in mind that the following are notes and thoughts, ideas, etc, and not a formal web site presentation. For this please go to my site : www.RealEstateSalem.com/ , and my Prudential resource site for advanced MLS searches and other real estate information. My other web site , http://www.listingyourhome.biz/ , is full of information on the distinctive benefits of internet marketing strategies that I use to sell homes and steps involved in full service that I use with Prudential and by employing me as your listing broker. Thank you for visiting my blog.
SEARCH SALEM AREA MLS LISTINGS
April 2 2008 - A Negotiation Ends Up in a Win-Win for Buyer and Seller
I just completed a difficult negotiation between a buyer and seller with three different counter offers. Only three. That doesn't seem like much, however the intensity of human emotion on both sides can become very obvious when there is a tug of war over price. As a broker representing the buyer, I advised them up front that the negotiation can get stressful sometimes and this is normal. I also said that I will try to stay "in the eye of the hurricane" and stay calm if things start getting difficult. This happened most of the time, and when I was affected one day, my client called me on it, and I advised them that I was also human! But that was the day before. Now I was back in the eye of the calm center and confident that the seller would reduce the price to a level that my buyers were willing to accept. After chiseling away at the price three times another offer came in, and that changed the whole game. We needed to accept the counter by the seller to remain in the deal. It ended up being a $20,000 price reduction on an asking price that had just been reduced by $16,000. My clients got a good deal. However, they were also concerned up to the last minute with the prior inspection that was done and the repairs that were going to be done. I asked the listing broker to come in and talk to them about this and after reviewing everything they were satisfied. It was an unusual display of calm also on the part of the listing broker, as he was familiar with the contractor that was going to do the work and had used him for years. This reassurance was enough to convince my clients to accept the final counter and get the property. They originally were looking in Salem and wanted a 1/4 acre and 1600 sq. ft minimum for no more than $215,000. There was not a property that fit with this criteria. However, in their hearts they wanted a larger lot in the country and more space due to their living arrangements. After four months and two offers that were either rejected or withdrawn, I finally told them after finding the 1 acre and larger sq. ft. home "let's just open up the energy and let the universe deliver a place that you love and also help you to work out the financial aspects." The very next property that I showed them was the one that fit like a glove and that they bought. I cannot emphasize enough how important it is to have a buyers agent representing you all the way through a transaction. There is so much involved that goes beyond the negotiation over price. I am deeply appreciative of the many professional agents that I have worked with both in my company and other companies. Even though we represent two sides, professional real estate agents put the interests of the client first and work hard to have every transaction be a win-win for both buyer and seller. Many people have no idea what agents do behind the scenes to keep their deals together, such as making sure that they have a good loan officer and escrow company, and many other things that makes the process work better. Moving is a big deal in itself. Combined with selling one home and buying another, or buying for the first time, it can be a demanding and stressful situation. However, it doesn't have to be that way. If we all can stay inside of that eye-of-the-hurricane, at least part if not most of the time, then things will go more smoothly for everyone.
a blog-journal with thoughts and notes by David Brown, Broker,
(pictured with real estate mascot-dog Shaman)
Prudential Real Estate Professionals
1220 20th St SE, Salem, OR 97302
(800) 255-1909 ext. 1282 (503) 371-3013
"Welcome to my real estate blog here in Salem Oregon ! Now that you're here, keep in mind that the following are notes and thoughts, ideas, etc, and not a formal web site presentation. For this please go to my site : www.RealEstateSalem.com/ , and my Prudential resource site for advanced MLS searches and other real estate information. My other web site , http://www.listingyourhome.biz/ , is full of information on the distinctive benefits of internet marketing strategies that I use to sell homes and steps involved in full service that I use with Prudential and by employing me as your listing broker. Thank you for visiting my blog.
SEARCH SALEM AREA MLS LISTINGS
April 2 2008 - A Negotiation Ends Up in a Win-Win for Buyer and Seller
I just completed a difficult negotiation between a buyer and seller with three different counter offers. Only three. That doesn't seem like much, however the intensity of human emotion on both sides can become very obvious when there is a tug of war over price. As a broker representing the buyer, I advised them up front that the negotiation can get stressful sometimes and this is normal. I also said that I will try to stay "in the eye of the hurricane" and stay calm if things start getting difficult. This happened most of the time, and when I was affected one day, my client called me on it, and I advised them that I was also human! But that was the day before. Now I was back in the eye of the calm center and confident that the seller would reduce the price to a level that my buyers were willing to accept. After chiseling away at the price three times another offer came in, and that changed the whole game. We needed to accept the counter by the seller to remain in the deal. It ended up being a $20,000 price reduction on an asking price that had just been reduced by $16,000. My clients got a good deal. However, they were also concerned up to the last minute with the prior inspection that was done and the repairs that were going to be done. I asked the listing broker to come in and talk to them about this and after reviewing everything they were satisfied. It was an unusual display of calm also on the part of the listing broker, as he was familiar with the contractor that was going to do the work and had used him for years. This reassurance was enough to convince my clients to accept the final counter and get the property. They originally were looking in Salem and wanted a 1/4 acre and 1600 sq. ft minimum for no more than $215,000. There was not a property that fit with this criteria. However, in their hearts they wanted a larger lot in the country and more space due to their living arrangements. After four months and two offers that were either rejected or withdrawn, I finally told them after finding the 1 acre and larger sq. ft. home "let's just open up the energy and let the universe deliver a place that you love and also help you to work out the financial aspects." The very next property that I showed them was the one that fit like a glove and that they bought. I cannot emphasize enough how important it is to have a buyers agent representing you all the way through a transaction. There is so much involved that goes beyond the negotiation over price. I am deeply appreciative of the many professional agents that I have worked with both in my company and other companies. Even though we represent two sides, professional real estate agents put the interests of the client first and work hard to have every transaction be a win-win for both buyer and seller. Many people have no idea what agents do behind the scenes to keep their deals together, such as making sure that they have a good loan officer and escrow company, and many other things that makes the process work better. Moving is a big deal in itself. Combined with selling one home and buying another, or buying for the first time, it can be a demanding and stressful situation. However, it doesn't have to be that way. If we all can stay inside of that eye-of-the-hurricane, at least part if not most of the time, then things will go more smoothly for everyone.
