Email from client: "Lottie: xxxxxx and I have decided to offer $860,000. And see how that goes. If you have some concerns about it please let us know. xxxxx"
My response to client: "$860,000 sounds good, but I did a study to see what the sales price to list price ratio has been lately for single family homes in San Mateo listed in the $750,000-$900,000 range. Here's the result:
"$860,000 is roughly 6% over; $875,000 is 8% over list. Any chance you'd be comfortable going that high? We usually don't get a chance at a counter offer."
Reply from client: "Lottie as long as there is not a counter, let's go to $880,000. I will keep my fingers crossed. Good luck. xxxx"
Yesterday I presented my clients' offer. It was a multiple offer situation as usual, and touch-and-go, but the sellers signed my clients' offer. The search for a home is over.
Take the time to show clients why you suggest a certain price, a certain strategy -- they usually listen, increasing the odds for success. Nothing is guaranteed, especially in the hot sellers' market we've been experiencing in the San Francisco and San Mateo County areas for the last 2 years, but it helps to know and show clients what's likely.