Motivated Listing Agents Are Always Useful
Wednesday, December 13th, 2006Everyone has heard about motivated sellers. Find one who is desparate to sell and there’s a good chance that they’ll be willing to come down in price. Have you ever thought about how important it is to have a motivated listing agent?
In negotiations, I always try to understand the goals and the fears of all participants. What would be a fear of the listing agent if their listing was going to expire soon and there was a good chance that the sellers were going to find another agent? They would fear ending up with absolutely nothing after having invested a lot of time and energy into marketing the home. They would be very motivated to do whatever it took to put the home under contract.
In the FMLS, they don’t post the list date or the expiration date. What you have to do is keep a running tally of listing numbers so you can estimate about when a listing was first entered. Usually listings are for periods of 90 days. So agents begin getting a little antsy about 60 days into the listing. They dread the thought of having to talk with the seller about relisting for another 90 days. If you submit a reasonable offer, you should have a better chance of getting the listing agent to present it to the seller as a good deal for them.
Getting a good deal in real estate many times depends on timing. Motivations are very dynamic. A “low ball offer” on day one might look like an answer to a prayer on day 81. Just another little thing to keep in mind.
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