Who is Negotiating YOUR Long Beach Home Purchase or Sale

Do you know who is negotiating the purchase or sale of your Long Beach Homes?  The real power in your Long Beach Realtors ability to negotiate a contract on your behalf lies in their command of the contracts they are wielding.  The standard form contracts that we use were written by attorneys for the California Association of Realtors (CAR).  Each and every paragraph of these contracts was developed to protect the consumer; the buyer and the seller in all Long Beach Real Estate transactions. 

Knowing how to bend the contract toward a buyer or a sellers best interest is an art, in my opinion.  Contracts have little boxes and small seemingly insignificant paragraphs in them which are often glossed over as meaningless.  There is nothing meaningless in any of the CAR contracts. 

Without going into great detail (not going to give away my secrets here, sorry) as a listing agent, representing a seller, there are a few specific items I look for on a contract when I first receive it.  These items, if addressed, tell me if the buyers agent is looking out for their clients best interests.  If they have marked these areas off they have already earned my respect because I firmly believe that all Long Beach Realtors should have their clients best interest in mind at all times.  If these items are not indicated I already know I am dealing with a rookie, or just a lazy real estate agent looking for a check who didnt take the time to learn their trade. I will take advantage of the shortcomings of that buyers agent in my clients best interests.  That Long Beach Buyer should be so lucky! 

When representing a buyer I complete all of the areas of the contract that relate to protecting my buyer and await a counter offer from the seller and listing agent.  Once the counter offer is received these areas are checked first.  If the listing agent has countered back on those items, with the intent of protecting their seller, they have earned my respect.  If these areas are not countered back once again I know, I am dealing with a rookie or a real estate agent without a command of the contracts.  I will take advantage of the shortcomings of that listing agent in my clients best interests.  That Long Beach Seller should be so lucky! 

OK, I will give you a little sumptin sumptin here.  Lets say you are a buyer, writing an offer on a Downtown Long Beach Condo priced at $350,000; you offer $335,000 and ask for some closing costs, the appliances, the plazma TV and a home warranty.  Your lender has qualified you up to $400,000 and you have a pre-approval letter to prove it.  That is a good thing because you will have to present that letter along with your offer to purchase, and you do just that.  So here it is, you just told the listing agent and the seller that although you are offering $335k, you are qualified up to $400k.  Why on earth would you do that?  Why on earth would your real estate agent let you do that? 

Caveat emptor

Let the Buyer Beware

It would have been very easy to call the buyers lender and have a new pre-approval letter faxed over for $330,000 to present with the offer.  This would have told the seller that the buyer was making the best offer they could and that the closing costs were necessary to consummate the transaction.  It also would have made a counter offer on price less likely.  Why did your agent go ahead and send the letter stating that you were qualified up to $400,000?  Do you think it was in your best interest to have done that? 

As a listing agent, I receive pre-qualification and pre-approval letters showing buyers qualified well above listing price most of the time.  As a buyers agent, a new pre-approval letter and a whole lot more is sent with the letter proving that my buyer has the loan and can close it. 

Never let the opposing side in a negotiation know what you are capable of,

it will change the response you get and will cost you money. 

As an experienced Long Beach Real Estate professional I have both written and received many offers to purchase homes in Long Beach.  Not only do I know my contracts, I know them well enough to negotiate the very best deal for you whether you are a Buyer or a Seller and I want to earn your business.  Are you thinking about buying or selling a Long Beach Home or Condo?  Would you like to be properly represented by an experienced professional?  If so, contact me regarding your next Long Beach sale or purchase.

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Posted on December 03, 2007 18:42:40 by Laurie.Manny

Comment from: kirk mulhearn [Visitor]

Thanks Laurie for such a relevant and observant post.   You have hit the negotiating nail on the head here in Long Beach.  Too many rookies negotiating too much real estate---dangerous for the clients who would be lucky to have you as an agent!!!

Permalink December 04, 2007 21:24:07

Comment from: Laurie.Manny [Member] · http://www.longbeachrealestatehome.com

Hi Kirk,
Thank you very much for your kind words. There are just too many rookies out there, unfortunately they are difficult for the consumer to identify. It is a shame that more agents have not honed their negotiating skills. These skills are detrimental to our profession.

Permalink December 05, 2007 04:30:22

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