Selling Poinciana One Property at a Time.: June 2009

My Buyer only wants one house. Why make 14 offers?

Yes...it's BB!!!Making offers on Multiple properties. Do your Buyers do it? Mine do. And here’s why.

In the Central Florida market right now REOs (bank owned properties) make up a HUGE percentage of the saleable inventory of homes. Most sell very quickly, for higher than listing price and with multiple offers. 

This can be very frustrating for Buyers and their agents. It seems like every time you make an offer on a REO property it is either pending or a bidding war is going on. So what do you do?

What I do is have my Buyers make offers on numerous properties at the same time. We don’t even look at them. If a good property comes on the market I send an offer for my Buyer to sign and then we forward it right on to the REO agent. We want to get into the game.

Last week I presented 14 offers for one Buyer alone!!! My Buyer’s intent of course was to only purchase one property. Luckily we received acceptances on 2 of the 14. My Buyer was so excited he changed his mind and decided to buy both!! You just have to love it when that happens.

It happened to me this week too. So….submitting multiple offers turns out to be a very good thing. The Buyers are not only getting the property they want but they also getting a second one as a bonus!!

Now listing agents are probably not thrilled about this as we end up withdrawing a lot of offers. I had a conversation with one of the REO agents last week who asked me if the Buyer had seen the property. My answer was “no”. He seemed to be a little perturbed and actually said I couldn’t do that. Said I was “playing dirty”.

Now folks…..I don’t think I have ever seen a law that stated a Buyer needed to see a property in order to make an offer on it. Have you?

We look at the property between the time the offer is verbally accepted and the time the bank sends us over the final addendums. As you know, if you sell a lot of REOs, this could be a day or 2 weeks. Whatever it is it’s plenty of time to pop over and check out the property.

I’ve been primarily a Listing Broker my entire career. I think I’m getting pretty good at this Buyer stuff though.  Am I playing dirty or am I just doing the best I can for my Buyers? What say you?

Are you a Florida REALTOR(R) looking for a change? Check it out. http://TTRealtyNet.com

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

 Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

Join Our Facebook Fan Page Check Us Out On Google+ Follow Us On Twitter

 

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

 

 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

 Copyright © 2017 http://www.brokerbryant.com/ | All Rights Reserved

Comment balloon 188 commentsBryant Tutas • June 24 2009 05:59PM
My Buyer only wants one house. Why make 14 offers?
share
Making offers on Multiple properties. Do your Buyers do it? Mine do. And here’s why. In the Central Florida market right now REOs (bank owned properties) make up a HUGE percentage of the saleable inventory of homes. Most sell very quickly, for… more
Selling REOs in Central Florida. It Sucks!!
share
Hi folks. Here are some excerpts from my day. Nothing special really. Just a normal day with trying to sell REOs in my market. ALL of these properties were active in the MLS and had been placed on the market in the last 48 hours. My Buyers… more
Here's a dose of reality for you!!!
share
What a difference 3 years makes. Right now the average price in Poinciana Florida is $73, 000. You can still do 100% financing but only with VA, USDA(rural housing) or FHA with a gift from a family member or employer. 3 years ago I wrote this:… more
Poinciana Florida Real Estate Report for May 2009
share
All I can say is WOW!!! Poinciana is down to 648 active listings. Considering there were almost 1100 in January this is incredible. That’s a decline in inventory of 59%. Yowsers!!! Inventory is flying off the shelves. Here’s another goodie… more