Lake Norman Homes & Info Blog

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Reverse Offers . . . it's worth a try!

 

Reverse Offers . . . it’s worth a try!




Have you ever heard of a reverse offer?? Okay, let’s say that you have your house listed and it seems that you are having some second time showings or maybe third time showings. Maybe it’s time to ask your Realtor® about doing a reverse offer.


A reverse offer is when your Realtor® contacts the buyer’s agent(s) that have showed your property more than once to the same buyer's. Of course there must be some interest in the property because why would they want to see it more than once? Truth be known that there probably is one or several factors holding the potential buyer's back from making an offer.


Ask your Realtor® to look into a Reverse Offer.


To start a Reverse Offer your Realtor® will contact the buyer’s agent(s) to find out what is holding their buyer's back from making an offer. If for example they say the property needs new carpet in the master bedroom, the living room needs painted, and/or the buyer's need a fenced-in backyard….these are issues that can be worked out; if you are willing.


You can discuss, with your Realtor®, what you are willing to do to help alleviate the issues…thus creating an offer. Then your Realtor® will contact the buyer’s agent(s) and present the offer….well the Reverse Offer.


Keep in mind that if the buyer’s agent knows their client well and provides your Realtor® with useful information that sometimes these can work.


Hey what can I say….it never hurts to try!


Good Luck!     

About the author:

Teresa Harris is a Lake Norman Residential Real Estate Broker who can assist you with the purchase and/or sale of real estate in Lake Norman and surrounding counties. Please visit www.TeresaMHarris.com for your relocation and/or your local needs. The information in this post is believed to be accurate but is not guaranteed.

Teresa Harris - Holbrooks Real Estate, Inc. - 704-458-1807 - Teresa@TeresaMHarris.com

Copyright © 2009 By Teresa Harris, All Rights Reserved...*Reverse Offers . . . it's worth a try!*

Comment balloon 17 commentsTeresa Harris • March 11 2009 10:54AM

Comments

Teresa ~ A reverse offer is something I had never tried, have you? Would love to hear how it worked! Sounds like something you do in negations!

Posted by Terrie Leighton, Reno Real Estate Agent ~ Selling Homes in Reno (Ferrari-Lund Real Estate ) almost 9 years ago

My friend Amanda Hall does this quite a bit in her market.  I actually learned about it from her.

Posted by Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653) (Austin Texas Homes, LLC) almost 9 years ago

Terrie: I just heard about it last night on the news. I asked the owner of our firm this morning if he had heard of it and he said no. Well then I did a search on AR to see if anyone had posted about it and I think there was only two. I thought it was a pretty cool idea and if it works to help bring people back to a property for a third time just maybe they will decide to write an offer to purchase...

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) almost 9 years ago

Jason: Like I was telling Terrie I just heard about this on the news last night. I say it's worth a try.

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) almost 9 years ago

Makes sense.  Why not be proactive instead of sitting and waiting?  I'd like someone to present an example of when this has worked.

Posted by Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE (Keller Williams Realty Portland Premiere) almost 9 years ago

Great information!  I've been doing that on a listing I have right now. The buyers don't like the garage conversation, and I told them that the seller would possibly be willing to take care of that, but then still no offer... you've gotta wonder if buyer's agents really know why their buyers aren't writing offers.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) almost 9 years ago

hey, teresa - i have heard of this and quite a bit actually!  I have never done it but I have heard great success stories.

Posted by Leesa Finley, RED Properties - Raleigh NC Real Estate (RED Properties) almost 9 years ago

This sounds interesting.  I will forward to my office manager to distribute.  Thanks.

Posted by Paddy (Patricia) Pizappi, Real Estate Associate Broker Hudson Valley NY (Better Homes and Gardens Rand Realty) almost 9 years ago

In this market a little creative marketing and thinking will probably help.

Posted by Kevin Robinson, Fractional Developer almost 9 years ago

Thanks for the post....I will share this as it is valuable info! Cheers from Reno!

Posted by Wendy Svoboda almost 9 years ago

Libby: Yes, you had better be proactive in this market.

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) over 8 years ago

Donna: Good luck on your listing! Hope it works for you....

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) over 8 years ago

Leesa: At least it is one way to keep some communication going.

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) over 8 years ago

Paddy: Good luck and thank you!

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) over 8 years ago

Kevin: You've got it!!

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) over 8 years ago

Wendy: Good luck and thank you too!!

Posted by Teresa Harris, Denver . Lake Norman . Charlotte (Lake Real Estate, LLC) over 8 years ago

I'm actually writing one right now and this will be my first. We have had one buyer in the property 8 times in the last 8 weeks, so we thought we would help them and throw them the offer instead of the other way around.

My seller is willing to pay the closing costs, throw in 1 pt on the mortgage and even give her a one year home warranty just to get her to move in, instead of being a visitor once a week.

 

Posted by The Friendly Home Team, Brokers - Oregon / SW Washington Real Estate (Realty Pro Oregon, LLC) over 8 years ago

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