A few days ago I wrote an offer on an REO...DOM 32.....Price $309k....We write an offer of $300k with $10k for closing. They counter with $300k and $3k for closing..... net to seller $297k. We counter with $305k and $8k for closing....net to seller $297k. The net is the same on both counters. Their last counter was $308k and $5k for closing. If we counter this one, they'll just counter higher......Do these AM's have calculators or count on their fingers?......We're standing as "highest and best". Watch another offer slide in over the weekend...You just got to love this business....lol

The real question is why do we sadistically continue to attempt to apply reason where there obviously is none?! That's my life lesson of 2010 - to let the stupidity go, as I will only go crazy if I work it over in my head too many times!

It isn't much - but if you finish the calculation I think you'll find there is a difference, and I don't believe the net will be the same. Also if there isn't any difference, then why in the heck didn't your buyers accept the counter?

I just noticed - I think you are also saying that your buyer is letting their offer ride over the weekend - is that wise with such a small difference?

I'm thinking there is more to this

Pine

I failed to put in their last counter...sorry about that....has been a long week. Also, no commission paid on concessions. Buyers are paying title and escrow......Their net should be the same on the first two counters....a little greed appears to be kicking in.

I had one last week where the AM wanted the earnest money "non-refundable" and certified check sent to AM, prior to ratified contract.
....when cows fly.....lol. I think they're pulling the AM's from used car lots....same mentality.

Yes, I've had AM request the certified EM check first. I simply reply that is against state law, and they back off. I can get the EM check written to their designated escrow agent and fax or email a copy of it, but I cannot turn over the check to that escrow agent until I have a ratified contract. Even First Preston will sign and return the contract under those circumstances, but they require that the EM check be overnighted to the escrow agent upon receipt of the contract.

I probably made stupid mistakes when I was a new agent, but I had a broker to notice and correct me. That does not seem to be true of so many AMs.

How's this for AM math? List price $37 - contract at $31 from a buyer - AM sends me a listing price reduction over the weekend and drops the price to $29,500. Huh - I'm not dropping the price to that with an offer on the table - what is going on out there??

Was it an automated email? Has the am looked at the offer yet? It happens quite often to me, so I usually just send an email saying that you are not reducing the price with an offer on the table for higher. They will thank you for it.

BpoBill - yes sir - I did send an e-mail and she did respond - it was a automated price reduction and she told me to hold off until she got to the offer. Never realized price reductions were automated - I thought they were analizing my very detailed monthly reports and putting thought into the whole thing - nope - automated.

Once you are under contract ask if you can do the price reduction. It will improve your numbers as well as the AMs.

I have to agree with you.....I have this vision of an AM counting on his fingers......gets a puzzled look on his face, takes off his shoes and socks.....smile reappears on his face.....BACK IN BUSINESS...lol

I can't talk. I learned Chisenbop in 4th grade and still find myself doing it!

http://en.wikipedia.org/wiki/Chisanbop

Chisenbop....AKA....Finger theory?......now it makes sense.......lol

Update on first post.......The bank accepted our offer, this afternoon. I'm as happy as a pig in dew. I got attached to this couple. I would have given away a good part of my commission, to make this one work. This was their home....no doubt in my mind. This is the part of the business I love, and, you can't put a dollar value on it...hard to explain......just a great feeling inside.

Pig in dew? Is that what makes a California pig happy? Ours like mud. I think. I *almost* went to the Livestock Show & Rodeo tonight, that's about as close as I come to knowing.

Oh, and there were little bacon pieces on the wedge salad I had for dinner.

I don't know, I just never heard the "pig in dew" thing. Or maybe it's "pig in doo"...that's closer to what I thought they liked.

My son asked for pigs in a blanket tonite...never heard of them in dew either, lol