So today I placed one of my listings pending. It took a week to get this deal negotiated. This deal is another example of how hanging in there and not giving up can have positive results. Now this was not a huge deal, in fact it's a vacant lot and the final agreed price is only $41,000. But you know, that doesn't matter to me, it's the game, not the price that I enjoy. I negotiate these deals just as hard as I would any other. After all, the last time I checked, $41,000 is a lot of money. My Seller is happy to get it and can use the money.
Anyway, we have been going back and forth for a week with the Buyer and their Realtor. The lot was listed at $49,000 and the Buyer's first offer was for $35,000. So my Seller decided to counter offer at $45,000, since he really wants to sell the lot. Two days later the other Realtor sends over another counter offer of $37,500 and let's me know this is the best the Buyer can do. He has no more money. When Realtors tell me that, I don't think I retain that information for more than about 10 seconds. Rule number one in negotiating is never say this is our final or best offer. Always leave the door open for negotiations. Anyway, my Seller counters back at $42,500. Miraculously, the Buyer, who has no more money counters at $40,000. My Seller, being generous, counters again at $42,000.
Two days later, after not hearing back from the other Realtor, I decide to give her a call. She lets me know that the Buyer is not willing to go any higher so she decided the deal was dead. Now folks, I never let a deal die until I have tried everything I can to get an acceptance. So I tell her I will let my Seller know that the Buyer's last offer stands. Of course my Seller has to counter one more time so he goes back at $41,000. Eureka!!!! The Buyer accepts the offer and we are pending. NEXT!
The moral of this story is, never ever give up on negotiations. Work it till it is either pending or dead and buried. You just never know. If I had not taken the initiative to call the other Realtor, this deal would not have happened. It may be a small deal but my Seller deserves no less than my full and complete attention towards getting this done for him. After all $41,000 is a lot of money. Now he can afford to buy me a nice Christmas present. BTW, for anyone shopping for me, I wear JUMBO!!!