got my start in the real
estate business about four Well...the market is shifting,
years ago - when the market and I'm lucky enough to have sold
in Austin, Texas could be quite a few homes to buyers
described as "bad," "on the willing to risk the "volatile,"
decline," "busting," or worse!!! "buyer's market," that actually
We preferred to describe it as a turned out to be a legitimate
"buyer's market." This way, it "opportunistic market." Now I'm
made the real estate buyer feel in the position to have helped
privileged - not foolish. At quite a few people buy low and
that time, when I was lucky sell high - and I'm receiving
enough to find someone willing to quite a few referrals in the
risk the "buyer's market," we'd Austin Texas Real Estate market.
search high and low for weeks to One big thing I've seen change is
find the perfect home - and then the way we come in with an offer.
the question would come, "How low
do you think we should come in?" In the Austin Texas Real Estate
market, we're in the funny
More often than not, in a buyer's position of just coming out of a
market, we'd start at around bad, or "buyer's market" and not
90-95% of the seller's asking quite into a full-blown "seller's
price. If we offered 95%, market." The best way to
usually it was taken. If we describe our market, and the way
offered 90% - we'd usually go we approach it, is "fair."
back and forth a bit until we Seller’s & their Real Estate
landed at, you guessed it, 95%. Agents understand that, if the
This was, of course, as long as home is priced correctly, it will
the seller didn't have their home sell in a reasonably short period
listed ridiculously above or of time.
below the Fair Market Value.
Because of this, the general rule transitional market is a “fair
of “let’s come in 90-95% of their market.” Nothing is more
asking price” no longer applies. important in a fair market than a
If a home is priced correctly, home’s true Fair Market Value.
and the buyer offers 90% of the Because of this, it’s more
asking price, more than likely important than ever to make sure
the seller will tell them to that your real estate agent will
either resubmit, or go away. complete a thorough Comparative
Likewise, if the buyer offers 95% Market Analysis. Once that is
of the asking price, the seller done, and with the right real
will likely come off the price estate agent’s presentation
slightly, but with the message skills, you might not have to
that “we’re not moving much more negotiate – merely make present a
than this.” fair offer that is accepted.
The bottom line is that a
About the Author:
Eric Bramlett currently manages his Austin Real Estate Guide, his his Austin Texas Real Estate company’s website, & his Downtown Austin Loft Guide.
Read more articles by:
Eric Bramlett
Article Source: www.iSnare.com 
