Authors Posts by Ross Wilson

Ross Wilson

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Ross Wilson is a retired real estate broker with extensive experience as a brokerage owner, manager, trainer and mentor over a highly successful 44-year career. His book, The Happy Agent – Finding Harmony with a Thriving Realty Career and an Enriched Personal Life is available where print and e-books are sold, including the TREB, MREB, RAHB and OMDREB stores. Visit Realty-Voice.com.

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In this seventh and final column of the series about effective offer negotiation, I address, particularly from a buyer’s perspective, what unfortunately can happen from time to time – the counter-counter offer.

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In practice, unless duress or competitiveness due to market conditions is involved, a seller rarely gets exactly what they want, nor does a buyer usually obtain their perfect terms.

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Your client has said the offer is unacceptable. Now, while the buyer’s agent relaxes in the other room, it’s time to strategize.

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Rarely do clients immediately accept all the terms without question. However, at times, it’s merely their ego in play.

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If you’re representing a buyer, I caution you to be selective about the information you share; don’t gab too much.

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I’ve witnessed all sorts of presentation styles, most of them appallingly amateurish. I’ll delve a little further into the subject, sometimes somewhat bluntly.

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Nowadays, it’s common practice for listing agents to refuse the buyer’s rep the opportunity to participate in the presentation. They insist that offers be faxed or emailed. In my opinion, that’s a mistake – a big one.

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First-time home buyers sometimes suffer from misinformation from unreliable sources. As their trusted representative, it’s your job to educate, to gently coach and coax them into home ownership.

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Is the bully offer system undermining consumer confidence? Absolutely, but until the rules change, fair buyers must be prepared to respond to bully offer scenarios by viewing the property at the earliest opportunity.

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Bidding wars can be emotionally challenging and exceedingly expensive. If they lack sufficient financial clout or the stamina to continue, and/or prefer to avoid paying top dollar, tell them to walk away.