What is a Reverse Offer?
After every showing on any one of my homes for sale, I automatically email the agent who just showed the property to his client a feedback form asking several questions, one of them being "If your client feels the home is not priced right, how much over priced is it? $5,000, $10,000, $15,000 $20,000 $25,000." Once the agent answers this question this opens a possible door for us. One very aggressive and proactive tactic I have used recently is something I call a "reverse offer". What I propose is writing up a purchase agreement below the current list price of what the feedback was from the buyer. An example of this would be, your home is being offered for $225,000 and the feedback was that the buyer felt your home was priced $15,000 above where it should be. We would write a purchase agreement, with your signature on it for $210,000 and submit it to the buyer’s agent. Once again, there is no guarantee that the reverse offer would work but it may be worth the effort to see if it might snag us a buyer for your home and at least open the door for negotiations. One final thing to consider when sending the purchase agreement over is to offer the buyer’s agent a bonus if the offer is accepted, possibly $1,000. Just think how the agent will be encouraging his client to look at the offer.