Offers and counteroffers

Ordinarily we say that a prospective buyer makes an offer to buy a seller’s property. The seller, in turn, may make a counteroffer. After going back and forth they may settle on a purchase price.

I have a different take on the matter, and it may be a distinction that doesn’t make a difference, but here it is. I say the seller is making an offer to the public to sell his or her property at a particular price, etc. The seller starts the offer process.

A prospective buyer, in effect, makes a counteroffer to the seller: “I won’t pay that price for your property but I will pay you X dollars for it.” The seller, in turn, says, “I won’t sell it at the price you said, but I will sell it for Y dollars.”

And so they meet in the middle at Z dollars. What we have, therefore, is the seller making an offer to the public, a buyer making a counteroffer, and then the seller making a counteroffer, and finally an agreement on price. Once they agree on terms and conditions, and both sign, we get a contract.

If you are planning to buy or sell real estate this year and could use some helpful hints or professional help, call me: 229-924-3089.

How you buy and sell real estate is changing.

The way real estate gets bought and sold is changing. A big factor in this change is something called Zillow. Zillow, Trulia and numerous real estate search sites on the Internet make it possible for you to list your property For Sale By Owner and let them advertise it for you on the World Wide Web.

Someone searching for a property like yours sees yours on Zillow, for example, likes the photos and description, makes an appointment to see the property, likes it, makes an offer, and enters into a contract with you.

You or the buyer arrange for a lawyer to prepare the necessary paperwork and close the deal. The lawyer is paid a fee. No real estate agent is involved.

On the other hand, let’s say you work and are not available to show your property to a prospective buyer most of the time. You hire a real estate agent to handle the listing, advertising, showing, preparation of a contract and related forms, and arranging a closing with a lawyer.

At the closing, the agent’s broker is paid a commission which he or she shares with the agent. That’s how they make their money. In many cases it is to your advantage to let an agent handle the marketing of your property and pay him or her a fee for services.

I as a real estate broker may be able to help you sell your property. My fee would be based on the level of service you want, that is, partial service or full service. Everything is negotiable. My company motto is: This Is Real Estate Today.

Think about placing your property for sale on my website free of charge or obligation. For more information, call me at: 229-924-3089.  In February 2018 my company name changed from Michael Dixon Realty to Michael Dixon Real Estate.  As an independent broker not bound to any Multiple Listing Service I am free to offer customers more flexibility in fee agreements. In short, I can be your broker for less than others who must charge higher fees to cover operating costs.