Generosity in a real estate transaction? Why not?

By
Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers

Generosity in a real estate transaction? Why not?Not everyone is driven by the bottom line. Many buyers and sellers have an ultimate purpose that may or may not include the notion that NO money should be left on the table.

Many people are generous by nature. They may very well know that they are paying too much or selling for too little, but the money isn’t all that important to them.

Acting in a buyer or seller’s best interest does NOT mean negotiating down to the last penny. Many a deal is lost over a few measly dollars.

Buyers want to get a property they want at a price they are willing to pay. Sellers want to move their property at a price they will accept. As long as the buyer has the ability to pay it is a fair market transaction.

There is nothing wrong with a generous spirit.

Actually, it can be quite refreshing.

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  1. Debbie Reynolds 10/22/2012 08:23 AM
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Topic:
Real Estate Best Practices
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Rainmaker
1,933,235
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Good morning, Richard....just as appraising is not an "exact science" neither is establishing a comfort zone during the negotiating period.... if the two personalities are within the same zone, they will meet at a comfortable place for both.... not sure if it's generosity or just comfortable.

October 22, 2012 05:42 AM
Ambassador
1,646,490
Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

Barbara...

I guess what I meant was that some are DRIVEN by money while others are not, and we need to recognize the difference. Thanks, my friend.

October 22, 2012 05:48 AM
Rainmaker
486,554
Jordon Wheeler
J W Group Real Estate Sales and Service
The Jordon Wheeler Group

Good morning Richard,

Generosity is a good thing, and many truly successful people swear by it.  Many of my clients have the generous attitude you talk about - except the investor buyers.  That's a dollars and cents strict approach.  Have an excellent day sir!  

October 22, 2012 05:48 AM
Rainmaker
1,006,626
Sheila Anderson
The Real Estate Whisperer Who Listens 732-715-1133
Referral Group Incorporated

Good morning Richard. Such a refreshing outlook. There are more important things than the pennies or even the dollars. In my own case, I just want to move on.

October 22, 2012 06:04 AM
Ambassador
829,311
John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

I find a a generous spirit can sometimes make or break a deal.  Good post my friend.

October 22, 2012 06:19 AM
Rainmaker
714,035
Jackie Connelly-Fornuff
Century 21 AA Lindenhurst NY
Long Island NY Real Estate Agent

I agree Richard. I have seen deals fall apart over a few hundred dollars. I would split the difference with the other agent but a lot of times they do not budge. Sad.

October 22, 2012 06:27 AM
Rainmaker
405,932
Peter den Boer
MBA,GRI,ABR,SRES, Associate Broker, Realtor
Keller Williams Realty Partners

Richard - I agree and I believe that as long as everyone is happy with the transaction, my job is done.

October 22, 2012 06:32 AM
Ambassador
1,646,490
Richard Weisser
Richard Weisser Coweta Newnan Homes for Sale
Better Homes and Gardens Real Estate Metro Brokers

Jordon...

Investors take ALL of the emotion out of the transaction. Thanks.

Sheila...

I think that a lot of people feel exactly the same way that you do. THX.

John...

It really can make a difference. Thanks.

October 22, 2012 06:39 AM
Ambassador
1,441,468
Liz and Bill Spear
RE/MAX Elite Warren County OH (Cincinnati/Dayton)
RE/MAX Elite 513.265.3004 www.LizTour.com

Richard, We're pretty happy when we get clients that are satisfied with "close enough".  The ones that think it's some kind of gladiatorial combat to get every lost dollar add endless stress and a good chance of blowing the deal just for ego's sake.

October 22, 2012 07:45 AM
Rainer
276,790
Kathryn Maguire
Serving Chesapeake, Norfolk, VA Beach
GreatNorfolkHomes.com (757) 560-0881

I had a seller like that for whom I had found a buyer for her condo.  Condos in her area were not moving but this buyer liked her unit. She would not budge over a $200 repair. It was a battle for her.  I paid the $200 (something I don't usually do) but it saved me more than that amount in peace of mind and the ability to just move on to the next thing.

October 22, 2012 07:56 AM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Good morning, Richard -- and I love when it happens too!  Coming to common ground or close enough can be a win-win for everyone.   

October 22, 2012 08:33 AM
Rainmaker
457,942
René Fabre
New Media Marketing
First American Title

Great post! And, case in point. When I purchased my 2nd home (and I wish I still had that one) We bought it from about our same age. He grew up in a neighborhood adjacent to where I grew up and we knew a lot of the same people and went to several of the same schools. Even though our offer was slighty less (this was during an uptick in the market and offers were always higher than the listing price) they accepted our offer. Why? They felt better selling it to us with 3 young kids and knew we'd really love the place and take care it. And, we did love it very much and took great care of it for several years!

 

October 22, 2012 09:17 AM
Ambassador
785,292
Charlie Ragonesi
Homes - Big Canoe, Jasper, North Georgia Pros
AllMountainRealty.com

Richard I givern the way I do business by the philosophy written in this blog. This does not mean I do not work hard for my buuyers or sellers. But i work in a fair and just manner

October 22, 2012 10:35 AM
Rainmaker
443,246
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
Top Listing Broker
BROKER of Green Realty Properties® - 954-667-7253

I will never understand why people walk away from a transaction they're willing to pay hundreds of thousands of dollars for because of a few extra bucks. I love when people are reasonable and see the bigger picture.

October 22, 2012 12:53 PM
Rainmaker
224,176
Michael Blue
REALTOR - 760-889-8877, Encinitas/Carlsbad
Home Smart Realty West

Richard, you are correct sir, just sold a home and I know we could have countered and got a few thousand more..but...they just wanted to move,  I didn't make a deal about it because they were happy.  It's up to the client want they will or will not accept at the end of the day.

October 22, 2012 03:27 PM
Rainmaker
1,736,355
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY

Refreshing and also makes for a much easier closing on booth sides.

October 22, 2012 03:47 PM
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