Richie Alan  Naggar, agent & author  (people first...then business Ran Right Realty )

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Rainmaker
830,288
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I council Buyers to present their highest and best offer if we feel the property is worth it. The higher-end property seems to go through the expected process but even these seem to be going over asking. I also counsel Sellers to avoid the temptation to price higher. Let the buyers bid it up.

Feb 10, 2020 01:06 PM
Rainmaker
3,544,430
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Regardless of market, it seems many types of buyers exist: some are successful and others are left behind.  Finding clients who are truly motivated and well-prepared to move is a good plan.

Feb 10, 2020 01:14 PM
Rainmaker
1,588,279
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

This is what I found over the last few months looking over solds. Sellers are paying points up the ying-yang (yes a real estate word) in my area. About 4000 minimum. That is really messing up prices. How to price it when the seller will have to pay points? 'Have to' turned out to be 25 to 35% of our closed transactions. 

Buyers are still trying to get away with murder but not doing it.

Feb 10, 2020 03:00 PM
Rainmaker
103,692
Jerry Thomas-Construction Loans
Cranbrook Loans - Farmington Hills, MI
Construction Loans in MI, OH, VA, GA, FL and AL

We still have a buyer's market here in Metro Detroit. If the home is in good condition, and it's priced right, it not going to last long. If a buyer thinks they can low ball they are going to be very disapointed.

Feb 10, 2020 02:50 PM
Rainmaker
415,979
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

Most sellers like to list above market regardless of price point.  Most buyers on the lower end price point pay full price or above for nicer homes.  

Feb 10, 2020 02:44 PM
Rainmaker
1,703,576
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

In all my years, even during the oil boom, Minot people have always expected to negotiate a price Richie Alan Naggar 

Feb 10, 2020 01:09 PM
Ambassador
4,543,639
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Depends on how much they want the property.

I like to price at or below and chase the offers up, rather than that race to the bottom that some folks like to play, so if the seller wants to really sell then they will take my advice.

Feb 10, 2020 07:45 PM
Ambassador
2,283,846
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

New construction homes usually go for full price and resales are negotiated moreso Richie. Buyers are less apt to lowball, though there's always a few that will! Overall List to Sale last month was at 98%.

Feb 10, 2020 06:33 PM
Rainmaker
837,319
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

The last few months of market activity for my area show the sales price is 4 - 7% less than the original list price. Days on market have also increased. It will be interesting to see if DOM decreases once we hit spring.

Feb 10, 2020 01:51 PM
Ambassador
3,598,378
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

We see them at market value with multiple Offers running up the price in bidding wars OR...

Sellers pricing too high and then the property just sits on the market. Even with the extremely tight inventory, buyers don't always want to pay well over list when it starts out too high.

Feb 10, 2020 10:17 PM
Rainmaker
1,286,222
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I've seen many a buyer, even in low inventory markets, try to "get a deal".  I'm surprised how many of them, and how many agents, think it's a buyer's market.  I suspect that pricing higher to accomodate for the "you should take 15k off for my offer" will be coming soon.  It's something I've already discussed with my clients a few weeks ago.

Feb 10, 2020 02:52 PM
Rainmaker
5,669,989
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We still have a strong market.

Feb 11, 2020 05:05 AM
Rainmaker
669,484
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

In my experience, buyers like to negotiate. We have some pockets experiencing multiple offers.  Usually after one failed attempt, buyers have more aggressive proposals IF they really want the house.  Sellers are typically going higher & most expect to negotiate. 

Feb 11, 2020 04:21 AM
Rainmaker
450,907
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

We have a severe shortage of inventory in the Phoenix metro area. And still a very strong Buyer demand. Many properties, if priced right, get more than one offer, sometimes 5-6 offers.

Feb 10, 2020 07:28 PM
Rainmaker
313,099
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

If a property is priced right or aggressive they may get multiple offers depending on location. Most properties sell w/ in 97% of list price if listed at market value. Our active inventory is very low currently.

Feb 10, 2020 05:27 PM
Rainmaker
2,856,408
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Buyers are paying more than asking price in my area.  This year, I only had one offer come in below. The buyer was an investor. The buyer was told absolutely no way will this property be sold for less than list price. The Investor came back with a full price offer. 

My seller clients follow my recommendation on pricing - which is at the sweet spot factoring the comps and condition of the property.  It works.

Feb 11, 2020 08:54 AM
Rainmaker
443,174
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Most of our residential listing are going for FP or higher.

Feb 11, 2020 07:11 AM
Rainmaker
193,023
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

In my market, seller will price it high and it will sit for months. Buyers tend to bid low.

Feb 11, 2020 06:44 AM
Rainmaker
1,872,569
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Not that much has changed in this area of the transaction as we all strive determine Market Value

Feb 11, 2020 06:18 AM
Rainmaker
1,362,558
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Overwhelmingly, most sellers I've worked with want to price a little high "to make room for negotiations" and most buyers want to offer  a little low for the same reasons. All the explanations in the world of why that's a bad strategy have failed me so far!

Feb 11, 2020 06:04 AM
Rainmaker
1,525,100
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

71% of all homes sold in my town last year sold below list price. 15% at list price and the rest above.  So the majority of buyers and sellers counter and negotiate.

Feb 11, 2020 05:54 AM
Rainmaker
800,860
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Real estate agents have injured sellers by incessant repeating 'Low Inventory."

This encourages sellers to stand firm. My past stats show the seller who endured did get more money.  So, DOM is increasing.

The smart agent helps the selling by understanding the marketplace and getting the buying of the seller to strategically leverage the expectation of anticipant buyers.

Buyer are OBLIGATED to attempt to get a deal (often hoping the appraiser is their secret ally) however the seller is holding all the cards if they manage their agent correctly.

Feb 11, 2020 05:49 AM
Rainmaker
1,062,542
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

People are willing to pay going price and pay a little over. Only stupid sellers list higher. Most deliberately price it low and many raise the price they want to sell after open house.

Feb 11, 2020 05:41 AM
Rainmaker
604,477
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

It all depends on how the home is priced, are there other offers, how long has it been on the market etc. Most homes are priced to sell however you do have sellers that want to price higher to test the waters. 

Feb 11, 2020 05:41 AM
Rainmaker
786,395
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Oh they totally negotiate. And yeah, sellers will nudge up expecting it.

Feb 11, 2020 04:58 AM
Rainmaker
3,120,065
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I am seeing both. Some homes in specific areas sell for full price or more when priced right. Others are getting offers no matter the price. I like to build in a cushion for offers. 

Feb 11, 2020 04:45 AM
Rainmaker
968,410
Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Both, although I share with sellers, over pricing to compensate is stupid because it makes you sit longer and your REALTOR can negotiate your price at asking if the comps support it; there would be no basis to offer lower.

Feb 10, 2020 07:52 PM
Rainmaker
568,715
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
Summit Real Estate Santa Clarita & OC Laguna Nigel

It is now, always has been and always will be a case by case event.

Feb 11, 2020 01:49 PM
Rainmaker
4,727,801
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richie,

Each market differs, it depends on who's who and where who's who lives!  A

Feb 11, 2020 12:59 PM