- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (12)
- SteadyState
- Contributions:787
Is it ok to offer the drug dealer over asking price for the drug of your choice? The dealer will always say yes.
- CulverCityRealtor
- Contributions:455
If this property is a Short-Sale..your agent is 100% correct,most short sales do sell for over the "asking" price.
You should expect great customer service and a cordial person to work with! There are so many really excellent and well trained agents out there, there's no reason to put up with this kind of treatment. If I were in your shoes, I would get another Realtor to work with right away!
You should expect great customer service and a cordial person to work with! There are so many really excellent and well trained agents out there, there's no reason to put up with this kind of treatment. If I were in your shoes, I would get another Realtor to work with right away!
- Dave Tracy, "David Tracy"
- Contributions:41
If a Real Estate professional is not doing his job, then find one who will! There are hundreds that would work extremly hard to help you buy a home. It is not NORMAL to offer over list here in WI but it does happen.
- Sam Shueh
- Contributions:379
You need to ask more penetrative questions, How many offers were received? What the price range were the offers?. If in doubt you can call the listing agent to confirm the data.
It may be the chemistry. As a realtor I try to show new listings esp in Sunnyvale as few homes stay on the market more than a few days, even if it is priced high. Some agents are also appraisers and they can tell you the fair value and suggest if you can make offer lower or higher. With Sunnyvale homes a skilled agent can spot most problems and even give you an idea about repair cost, termite and noise(air plane zone). Standing outside and not want to get to the bottom of issues(plumbing, termite, attic)
is problematic. A good agent will even crawl inside underside or looking into attic see signs of defects.
- Thomas Feng, "Bay Area Connect"
- Contributions:2
Let me start by answering your question of whether it is normal to offer more than the listing price. The answer to that is no it is not normal.
Only in a non-normal situation would you be making an over asking price offer such as a really great school district, multiple offers, a fully remodeled house etc.
So how do you decide if you should be making an offer higher than their listing price? This is where a good agent comes in, they should be gathering information from the listing agent like number of offers received, amount of repairs needed, and showing you the comparable properties.
Sometimes making an over list price offer makes sense, sometimes it doesnt. Remember the seller is not always looking for more money, they may have personal issues going on like a divorce or a relocation where the time it takes to close is actually more important. In this situation an all cash offer or faster close could be more important than more money.
Hope this helps you out Peaceunlock!
For more resources for first time home buyers in the Bay Area check out my blog [website removed by Zillow moderator]
Only in a non-normal situation would you be making an over asking price offer such as a really great school district, multiple offers, a fully remodeled house etc.
So how do you decide if you should be making an offer higher than their listing price? This is where a good agent comes in, they should be gathering information from the listing agent like number of offers received, amount of repairs needed, and showing you the comparable properties.
Sometimes making an over list price offer makes sense, sometimes it doesnt. Remember the seller is not always looking for more money, they may have personal issues going on like a divorce or a relocation where the time it takes to close is actually more important. In this situation an all cash offer or faster close could be more important than more money.
Hope this helps you out Peaceunlock!
For more resources for first time home buyers in the Bay Area check out my blog [website removed by Zillow moderator]
- George Easton, "georgeeaston"
- Contributions:18
This person stands to make a decent chunk of change for "helping" you, so he better treat you with proper customer service. There are plenty of more capable Realtors who will be glad to help you out. Don't trust ads, get a referral. Perhaps check a few of your local BNI chapters and ask around (BNI.com)
As far as your first question, what you offer depends on a lot of factors; Is it a bank owned home, short sale, normal transaction? How long has it been on the market? Have there been price reductions? What is demand in the neighborhood? These are questions that a good Realtor should be able to answer for you.
As an appraiser I can suggest that perhaps you should contact an appraiser on the next home you are interested in- BEFORE you place an offer and ask for a simple and inexpensive desk review. Explain exactly what you're looking for and any good appraiser would be able to help you out to let you know what they house is worth approximately.
Good Luck! And fire that Realtor
As far as your first question, what you offer depends on a lot of factors; Is it a bank owned home, short sale, normal transaction? How long has it been on the market? Have there been price reductions? What is demand in the neighborhood? These are questions that a good Realtor should be able to answer for you.
As an appraiser I can suggest that perhaps you should contact an appraiser on the next home you are interested in- BEFORE you place an offer and ask for a simple and inexpensive desk review. Explain exactly what you're looking for and any good appraiser would be able to help you out to let you know what they house is worth approximately.
Good Luck! And fire that Realtor
- Jackie Beardsley, "Listingforless"
- Contributions:163
Please call another agent, your agent has a fudiciary relationship with you and needs to be putting your needs first and foremost. Not all offers need to come in above asking price, if the seller doesn't like the offer the will counter. You are NEVER stuck with a single agent. Call another and voice your concerns. However, if you are still interested in that home you need to communicate to another agent that you were showed that home by your previous agent. If it was sold don't worry there are many to choose from. I'm sure your new agent will work on your behalf. Good luck!
- Harold Sharpe, "So Cal Homes Realty"
- Contributions:143
I would say if the property has been listed awhile more than list price isn't reasonable unless they recently did a price drop. You might want to make sure the listing agent / firm is not the same as he is.
RE is the other property sold??? GO to REALTOR.com and check and see if the status is active or back up etc. If it is active you might want to pursue that a bit more by looking in to it. maybe call the listing agent yourself just to verify. By the way if you don't feel comfortable with your agent at this point perhaps looking at other properties with another agent might be the cup of tea for the day.
RE is the other property sold??? GO to REALTOR.com and check and see if the status is active or back up etc. If it is active you might want to pursue that a bit more by looking in to it. maybe call the listing agent yourself just to verify. By the way if you don't feel comfortable with your agent at this point perhaps looking at other properties with another agent might be the cup of tea for the day.
- Chris O'Connor, "CallChrisToday"
- Contributions:269
I strongly suggest you look for another Realtor to help you right away. No Realtor should unlock a house and then stand outside while you go inside and view the home. He or she would probably get in trouble for this practice as your Realtor has a professional responsibility for keeping each house secure while he is showing it. What if you were a thief or a vandal? While he is standing outside you could be stealing prescription drugs, unlocking a back door so you can come back later, or doing some sort of damage to the property. Just like in any profession not all Realtors are created equally. Find a new agent.
- peaceunlock
- Contributions:3
I couldn't find an edit question button so I'll post here.
He was the agent responsible for selling the first house I was interested in and ever since then he has been the one helping me find houses. I tell him the address of the house I am interested in and he makes an appointment with me to go view the house.
Thank you so much for your help. You guys do not know how helpful your advice has been.
He was the agent responsible for selling the first house I was interested in and ever since then he has been the one helping me find houses. I tell him the address of the house I am interested in and he makes an appointment with me to go view the house.
Thank you so much for your help. You guys do not know how helpful your advice has been.
- Oggi Kashi, "OggiKashi"
- Contributions:167
Peaceunlock
A question,
Where and how did you meet your agent?
Based on your description, I would look for a new agent. As for offering over the asking price, that's only common or "normal" when the property is fresh and listed at or below market value. If there are several buyers circling about, offering higher may give you a better chance at acquiring the property. If the listing is stale and you are going to be the only offer on the table, there is no reason to offer more than the asking price. If anything, you would offer less.
Oggi Kashi
Paragon Real Estate Group
CA DRE 01844627
A question,
Where and how did you meet your agent?
Based on your description, I would look for a new agent. As for offering over the asking price, that's only common or "normal" when the property is fresh and listed at or below market value. If there are several buyers circling about, offering higher may give you a better chance at acquiring the property. If the listing is stale and you are going to be the only offer on the table, there is no reason to offer more than the asking price. If anything, you would offer less.
Oggi Kashi
Paragon Real Estate Group
CA DRE 01844627
- Brian Teyssier, "Brian Teyssier GRI"
- Contributions:964
Thanks for your question. So many things to comment on...."is it normal to offer over full price?" No, not normal but it certainly does happen.
The biggest thing that bothers me is that you are not comfortable with your agent. How did you get him? If you are so uneasy, I recommend working with another one, we have all been fired before BUT he may make up in the negotiation dept?! As for showing homes, every Realtor does it differently. I go to seminars and classes all the time and have had very successful agents tell us different ways and one opened the door, lit up a cigarette and told the buyers if they need him, let him know!! It worked for him, some buyers like to walk through as a couple as it is a big deal looking at houses to buy together. I like to walk through separate from my buyers so I can look at possible problems.
It does take 30-45 days for a closing to take place and that is when it is recorded. If you are not sure, e-mail the listing agents of the properties in question or have your Realtor e-mail you the listing showing it's status.
Good luck, hope this helps!
The biggest thing that bothers me is that you are not comfortable with your agent. How did you get him? If you are so uneasy, I recommend working with another one, we have all been fired before BUT he may make up in the negotiation dept?! As for showing homes, every Realtor does it differently. I go to seminars and classes all the time and have had very successful agents tell us different ways and one opened the door, lit up a cigarette and told the buyers if they need him, let him know!! It worked for him, some buyers like to walk through as a couple as it is a big deal looking at houses to buy together. I like to walk through separate from my buyers so I can look at possible problems.
It does take 30-45 days for a closing to take place and that is when it is recorded. If you are not sure, e-mail the listing agents of the properties in question or have your Realtor e-mail you the listing showing it's status.
Good luck, hope this helps!
Is it normal to offer more than the listing price on a house when making an offer?
I've been looking for a house around the 350k - 400k range and plan on putting 100k down. My agent says its normal to offer more than the listing price on a house or else my chances of purchasing that particular house will be very low. I still don't understand how that would be the case for a house that has been on the market for such a long time, but I've been making offers several thousand dollars more for houses I am interested in, but my agent still informs me that the house was sold to another party.
The reason I ask is because today I asked my agent if I would be getting the house I made an offer for in Sunnyvale (the second house I've made an offer on in Sunnyvale). He told me that it had been sold so I tried to confirm the address with him and he seemed a little confused at first and wrote down the address and began to think about it for a minute. He then confirmed that it had been sold. It is still listed as active on another site but I know things can take time to update online.
My agent also seems to have a i-don't-want-to-be here attitude. Now I'm certainly not expecting great customer service or even a friendly person, but he just isn't that helpful. I don't have experience at all with any other agents but when we arrive to look at a house, he opens the door to let us in and look around the house while he waits outside. He doesn't even greet us, which does not bother me but could be an indicator of how helpful he is actually being.
Thank you in advance for your thoughts and advice.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.