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Ready Set Sold with Bryan Vogt #21-05: Jim Vernier Mayor of Shiloh Il: $5000 tip of the week. Find out why Sellers have everything to gain and nothing to lose if faced with a low ball offer

October 14, 2017

Bryan Vogt:        Welcome back to “Ready, Set, Sold.” Thank you so much for joining us. Now we’re at the Tip of the Week, the $5,000 Tip of the Week to be exact. This one, if you listened last week, if not again, we’ve got the iTunes, Google Play, we got the podcast, you can go back and check it out. Even if you just do the Tip of the Weeks that we do every week, I think you would be well worth your time, the few minutes of time, to listen to those. It can be a big advantage to you. Plus, of course, getting the book, too,, not .com, and getting a free copy.
With that being said, let me give you some scenarios that just happened not too long ago. Again, every situation is different, so I don’t really like to get into pricing, getting into numbers, because I think I don’t want to give people a false sense that, “Oh, well, Bryan said this x-dollar home that you can take this much off or you can negotiate this much.” Again, that’s an individual situation, there’s no two deals that go together exactly the same way. I never want to give that type of information out.
But in this situation, what happened was is there are buyers, and they don’t happen very often, they really, really don’t, but sometimes there are buyers that are just looking for a deal and just seeing if they can get it. Doesn’t mean they expect to get it, but they’re just hoping they can get something. In this situation, the story went that there was a buyer, they found a house, middle of the road, nice home. They put a little offer in. It was that, it was a very, very low offer. The sellers got very upset, they refused to even counteroffer, and that was it. That was done.
These buyers weren’t deterred, looking for somebody that wants to wheel and deal. They went after another house. Same result, basically. The seller said, “Absolutely not, I’m offended.” Don’t get me wrong, I get it. I get it. It’s a personal thing. You’ve put in a lot of sweat equity, you’ve done a lot of work to your home, you lived there for a long time, kept it up. But they said, “No, not going to happen.”
The third house, and no, this is not a joke, you just happened to have the third house and I will say that the agent involved with this was saying, “Look, I’m going to give you one more time because this isn’t working too well.” This situation, same situation, put a low-ball offer in. This time, though, the seller responded back. They responded back, they didn’t take much off but they took something off. They engaged with the buyer. Long story short, yes, it took a few more rounds of negotiations, but the seller sold their home within 2% of asking price.
What is the moral of this story? Very simple, and the Tip of the Week, you have nothing to lose and everything to gain by negotiating even with low-ball offers. It doesn’t matter what the offer is. Even if you don’t like the offer, you have everything to gain and nothing to lose. Again, understanding is is hopefully your agent’s giving that same advice, is always engage, always engage, always engage. You have nothing to lose and everything to gain.

Hey, you’ve been listening to “Ready, Set, Sold” with your host, Bryan Vogt. Have a fantastic week, everyone. Thanks so much for joining us.
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