What is a reverse offer?

After every showing on any one of my homes for sale, I automatically email the agent who just showed the property to their client a feedback form asking several questions, one of them being “If your client feels the home is not priced right, how much over priced is it? $5, $10, $15, $20, $25,000.” Once the agent answers this question, sometimes this opens a possible door for us. One very aggressive and proactive tactic I have used recently is something I call a “reverse offer”. What I propose is writing up a purchase agreement for the amount below the current list or offering price of the home at what the feedback was from the buyer. An example of this would be, your home is being offered for $225,000 and the feedback was that the buyer felt your home was priced $15,000 above where it should be. We would write a purchase agreement, with your signature on it for $210,000 and submit it to the buyer’s agent. Once again, there is no guarantee that the reverse offer would work but it may be worth the effort to see if it might snag us a buyer for your home and at least open the door for negotiations. One final thing to consider when sending the purchase agreement over is to offer the buyer’s agent a bonus if the offer is accepted, possibly $1,000. Just think how the agent will be encouraging his client to look at the offer.


Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s