How not to negotiate
I find it odd how real estate agents will take a negotiating position they can’t defend. They are basically making up a reason. I feel this weakens their ability to negotiate for their client. I had a property listed at $259,000, which was below market and a good deal at list. My investor/seller paid cash [...]
Read more from this Article »Always Use A Buyer’s Agent
Advantages to using a buyer’s agent? Countless. List of duties your buyer’s agent should perform? Endless. So why should buyers use an agent? About 6 months ago I closed on a listing of mine. What started off as great transaction, ended in much difficulty. The buyer’s who offered on the home were working alone. Big [...]
Read more from this Article »Will Realtors Go Away Like Travel Industry Agents?
Alike in some ways, agents are helping the consumer with personal plans and while travel/vacations have pieces/parts; flight, car, hotel, etc… like RE transactions have pieces/parts; staging, marketing, photos, finding the house, getting the right financing, title, negotiations, etc… A vacation might be $5000+ vs. real estate transactions often exceeds $500,000 and ONE simple oversight [...]
Read more from this Article »Cyber Home-Shopping Sink Holes
December 1, 2010 by Angela Murphy, Partner, Revealty The Internet is a great tool for finding the best deals on many things we buy. But, can you really find a steal of a deal on the house of your dreams online? The NAR, National Association of Realtors, states over 90% of homebuyers use the Internet [...]
Read more from this Article »Don’t Skip The Inspection On Bank-Owned Properties
I recently went through a home inspection with my buyer on a bank-owned property. The property was being sold as-is, with the inspection solely to satisfy the buyers curiosity and at the buyers discretion. To every one’s surprise, a large nest was found in the attic.
Read more from this Article »What is a good deal?
In a buyers market like we are experiencing one of the more common buyer comments I receive is “I want a great deal.” Of course what buyer doesn’t want a great deal? There are great deals out there but the problem is how one defines a good deal. How do you know a good deal when [...]
Read more from this Article »How do you know a good deal when you see it?
I have a buyer making an offer on a home listed at $650,000 in Blacklick Ohio. It was built 10 years ago for $687,000. The listing agent has hinted we could probably negotiate a quick deal at $600,000. Looking at comps and homes for sale the home is a good deal under $620,000. At $600,000 it [...]
Read more from this Article »Patience is a Virtue
For those who wanted to take advantage of the tax credit but missed the opportunity, it may have paid to wait. Reports have shown that with fewer buyers since the expiration, sellers have had to lower their prices to entice them. Although it depends on your price point, some of the decreases in the sales [...]
Read more from this Article »Open Mouth, Insert Foot
While setting up a showing for a condo, the listing agent was giving me some information about the property. At the end of this conversation he said “The seller is M-O-T-I-V-A-T-E-D. Make an offer, no matter what it is, just make it, even if you think it’s really low.” I was a little suprised that [...]
Read more from this Article »A termite story
I was representing a buyer who was in contract to buy a 1950’s ranch house with an older finished basement, complete with red shag carpet and cheap brown paneling starting to peel off the walls. His plan was to gut the basement and refinish it. During the home inspection we actually saw live termites behind the paneling. [...]
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Larry Schottenstein is a certified negotiation expert, real estate author, educator and TV reality show host
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