I get about 2 of these a year, someone comes into the office and says "I want to buy the property over on 150N with the pond." After a quick check I let them know that, well it's not for sale!
Now comes the game plan. Starting with some history, how long has the current owner had the property? How much did they pay for it? Is it paid off? Are the taxes current? What do the comps look like? What would a reasonable offer be?
With all of the information gathering done I spend a little time discussing my commission with the buyer, in this instance it will most likely be the buyer pay my commission seeing how the property wasn't for sale, no listing contract.
We complete the commission agreement and prepare a real estate contract this is what we will be taking to the property owner. It is important that you have an offer or contract ready prior to approaching the owner. Too many times agents get out and "knock doors" looking for listings with the spiel "I have buyers for you house, just sign this 2 year listing agreement and I'll bring them right over", you don't want to be that agent!
When approaching the homeowner, cut to the chase, let them know that you have a client that is interested in purchasing their property and they have a formal written offer for the property.
The first response is almost always: "This place ain't for sale, I ain't never selling this place!"
The second response is usually: "How much are they offering?"
Generally speaking, if you can bring the buyer and (potential) seller together, these will be some of the smoothest transactions you will ever deal with.
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