Tough lesson learned....

By
Real Estate Agent with The Durango Home Team at Keller Williams Southwest Associates IA 100045079

For years we have preached the old mantra to our clients.... "the first offer is often the best... Think long and hard before you let it go.

 

After putting our own home on the market, we received an offer in just a few days from the second people who looked at it.  

 

This was what we expected since the last house we had sold went under contract in three days.

 

With over fifty years combined experience we took it for granted that our skill and expertise were working for us.

 

After inspections however the buyers said they would consider continuing with the purchase if we would come down on the agreed price another $12k.

 

Considering that we had paid much more, redecorated throughout and thoroughly researched the market, we allowed pride to take control.

 

We turned that offer down flat.  

 

It is now two months later.  We would be moved and unpacked by now if we had considered countering or even just taking the loss.  Time is worth a lot and in this market having a cash offer was worth a lot more than we gave it credit for.

 

We have now reduced the asking price to almost what the big concession would have been.

 

We are also all packed and ready to go.  

 

There have not been any showings in two weeks .

 

We are sharing this so you have a written testimony to help your clients realize the importance of having an open mind and being willing to negotiate when they have the opportunity.

 

This has been a bitter lesson.  We have learned it well!  

 

Money is Important, but there are many other factors to consider.  It is our hope that our experience can spare someone else some time and hastles.

Posted by

KW image 

Ralph and Jeanne Janisch

Keller Williams Realty Southwest Associates

700 Main Avenue

Durango, CO 81301

O: 970-375-3252

P: (970) 759-1007

P: (970) 759-0027

 E: ralph@durangohometeam.com

W:  www.durangocoloradohometeam.com

 W: www.durangohometeam.com

Durango, Mancos, Bayfield, Ignacio, Vallecito

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Debbie Reynolds
Prudential PenFed Realty, "The Real Debbie Reynolds" Your Clarksville Real Estate Professional, 931-920-6730 - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

A lesson learned. That too often is the case, if you don't take the bird in hand, your next opprotunity may be months away.

April 19, 2012 09:22 AM #1
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Fred Griffin Licensed Real Estate Broker
Frederick Griffin, Licensed Real Estate Broker - Tallahassee, FL
Tallahassee Florida. Call 850-339-4861

Jeanne and Ralph, it is frustrating when your Sellers ignore your advice and pass on a good offer.

     But when it happens to YOU...  it really hurts.   Years ago, I turned down a good offer on my property...  I finally sold it, but I should have taken that first offer.

April 19, 2012 09:25 AM #2
Rainer
277,179
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA
- Pierce, King, Kitsap, Thurston, Mason Counties

Thank you for the great illustration that even the experts might not get it right -- it makes it easier to understand how our clients might not fully understand the importance of "following the rules".  Blessings on getting that house sold soon.

April 19, 2012 10:02 AM #3
Rainmaker
621,394
Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

Imagine you guys doing that after all your experience.... Is it any wonder our sellers drive us crazy?  Good luck moving forward.

April 20, 2012 11:22 AM #4
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Jeanne & Ralph Janisch ABR CRS Brokers

Selling Durango CO homes to good people like you!
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