Real Estate Views from St Pete

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Lots of Inventory doesn't mean you can play games

Patricia Kennedy recently posted an article about You Snooze You Lose returning to the D.C. area. We're still in a Buyers Market in the Tampa Bay area, but that doesn't mean a buyer should go around making lowball offers and extend negotiations and counteroffers out for a long time. Often it will happen that another offer comes in during this time, and the seller is frustrated at how things are going with Buyer #1 and accepts a clean, reasonable offer from Buyer #2. This has happened to us more than once recently with our listings. 
10 comments • Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS • January 26 2008 11:19PM

Comments

Sharon

It happened recently to me recently. I had a buyer that decided to play hard ball. I told him over and over to work with me on putting it together in a timely fashion.

He learned fast that it was not a game of hard ball anymore.

Sincerely

Tom Braatz

Posted by Tom Braatz, Waukesha County Real Estate,WI (Re/Max Realty Center 262-377-1459) over 2 years ago
Sharon - some buyers think because the market favors them, it is okay to do anything and the sellers will just  take it, not true some buyers are learning this lesson the hard way.
Posted by Jennifer Fivelsdal, Mid-Hudson Valley (JFIVE HOMES REALTY LLC) over 2 years ago
I am struggling with buyers down here Sharon.  I just had a deal fall apart from buyers remorse, refused to send deposit and then contacts me a week later to get back in contrat. I told him he has to show up for the next contract in town, smiling and listen to his agent....she's done this before and knows what she's doing.
Posted by Chris Elizabeth Griffith ~ Bonita Springs Fl Real Estate (Downing-Frye Realty, Bonita Springs, FL) over 2 years ago
Reminds me of the buyer who threatened ligitation because he lost out on a property. We'd told him we told him that the seller was not negotiable on price, and an offer came in between his first offer and his second. His response, "Well, all agents  say things like that, so we didn't believe you." And that's my problem??
Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 2 years ago
I've had a buyer get the wake up call after losing out on two different properties. Reality needs to hit some buyers harder than others.
Posted by Cris Burlew, Broker ~ St Pete Beach FL Real Estate (Beach & Luxury Realty, Inc.) over 2 years ago
OH I totally agree. It is not good business would be how my Dad would tell me. Treat those how you would like to be treated. Not taking advantage of the situation.
Posted by Susan Trombley Broker/Realtor Raleigh, Cary, Wake Forest, Youngsville (Trombley Real Estate) over 2 years ago

Cris - you're right. Some are slow learners.

Susan - you have a smart Dad. 

Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 2 years ago
Sharon, thank you for the mention!  One of my buyers read it and decided to write now instead of waiting - he was the seller on the snooze house and read my blog!
Posted by Patricia Kennedy (Evers & Company Realtors) over 2 years ago
Patricia - so glad to hear your blog worked! Sometimes it helps when someone can read about himself objectively.
Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 2 years ago
Count me in that one, too.  Three offers on the same condo in less than 12 hours.  Buyers better be serious on the properly priced homes and condos or they'll eat dust.
Posted by Chris Elizabeth Griffith ~ Bonita Springs Fl Real Estate (Downing-Frye Realty, Bonita Springs, FL) over 2 years ago

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