Has anyone tried this, and if so what kind of results have you had?
I read recently of some new tactics, to get home buyers the pull the trigger, that are surfacing around the country. One tactic is an offer written by the seller!
It's called a reverse purchase agreement, an unsolicited offer that gets written by sellers for prospective home buyers. According to RISMEDIA some agents say that the strategy could be the next weapon in the ongoing battle to get home buyers to take notice and get off the fence.
Since home buyers control the market now, with so many choices, there's really no incentive to decide on a purchase quickly.
One agent had a market worn listing. After months on the market, professional staging, aggressive price reductions and weekly Open Houses, there was one qualified out of town buyer who viewed the property twice. There was interest and his agent continued to keep in touch with the listing agent. So there was hope that this might turn into an offer.
But months later, still no offer. The buyers agent continued to keep in touch with the listing agent, so there was some interest.
With no other prospects in sight, the listing agent and his clients decided that if the buyer wouldn’t make an offer, they would. So they wrote an offer, complete with a quick closing date and an unsolicited $10,000 price reduction on top of a $20,000 price reduction earlier in the month.
The prospective buyers are reviewing the sellers offer and haven't yet made a decision.
I'm wondering if this might be a way for sellers to gain a little control in this buyers market. What do you think?
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