How to deny a "Ready willing and able Buyer" -- RE AGENT

Question

I am listing a house thats about to go on the market. i am listing the house 10% below market value and hoping to create a bidding process so they can make better gains and sell it faster.

value is 320k, and listing it at 280k. If someone comes in with an all cash offer at 280k and says i will close on the buyers terms how can i reject that offer? That would mean they are a "ready willing and able buyer".

So my question is, what can i write in the "additional provisions" on the mls to say that the price is starting at 280k but wont be sold at 280k

Russell Brazil · Answer

That is going to be very specific to the market and the property. Hopefully he knows his pricing strategy well. The only advice on the pricing strategy would come from people that know his market well. You are in the DC area, and in DC proper its pretty standard to list $50k low. If the property is going to be $1.25 million, I'll list it at $999,900, a quarter of a million below expected sales price. Then you move over to PG county you typically want to list high and work your way down, same goes for a lot of the outer suburbs, while the inner suburbs will be listed just $10-$20k low.

Sid Leibowitz · Answer

You can always say you received a better offer when someone offers you the 280K if you decide not to let it go.

Russell Brazil · Answer

All you have to do is telling them A) this was my pricing strategy, and B) we are not considering offers below X.

Jeff B. · Answer

IMO, it's a mistake to make a listing where you insist upon buyers bidding it up. You set the expectations of all agents and buyers with the very first MLS posting. If you list low and reject the all cash, you've just poisoned your own listing and all agents will stop shopping the property.

Set a price where the all cash off makes you smile and accept the offer.

How to deny a "Ready willing and able Buyer" -- RE AGENT

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