Real Estate Outside the Box: Buyers Throw In Vacation Home Access to Sweeten Deal
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I really like real estate agent/broker Joe Atkins. He’s a bright, hard-working guy who leaves no stone unturned for clients and always thinks creatively when it comes to problem solving. Yep, he’s one of my faves. While helping clients this spring try to buy a $359,000 town home in Uptown, broker Joe Atkins said, hey guys, let’s think out of the box here: We’ve got two other serious cash offers — is there anything else you can bring to the table?
There was: a vacation home, a lake home a few hours away in Texas. So to counter the two cash offers, everyone at full asking price, this, mind you for a town home in Uptown, Joe’s buyers offered full price with a one month a year stay in that lake home for absolutely free for as long as they owned it, I guess. This was back in the heated frenzy that was the June real estate market.
Did it work? No. The sellers took the cash offer. I think they were nuts, because they could have had a whole month’s access to a second home! Which they could have traded at 3rdHome.com and had, essentially, three homes at their disposal.
But Joe says he is definitely going to try that tactic again. It just might work! Welcome to the future of real estate. (And check out Dan McNamara’s Long Cove!)
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[…] Aside from the biggest challenges facing buyers today — price is one, appraisals two, and then increasing multiple offers – the buyer profile today is way different for first time homebuyers. From the National Association of Realtors: most first-time buyers now account for less than 30 percent of total U.S. home purchases. Yet DFW realtors say they are selling large family homes to these youngsters. The NAR also says sales of homes to affluent buyers or investors who pay all cash account for almost a third of the total market. That is mighty hard to compete with. Hence we have to think outside the box. […]
[…] Aside from the biggest challenges facing buyers today — price is one, appraisals two, and then increasing multiple offers – the buyer profile today is way different for first time homebuyers. From the National Association of Realtors: most first-time buyers now account for less than 30 percent of total U.S. home purchases. Yet DFW realtors say they are selling large family homes to these youngsters. The NAR also says sales of homes to affluent buyers or investors who pay all cash account for almost a third of the total market. That is mighty hard to compete with. Hence we have to think outside the box. […]
way to go, Joe!
way to go, Joe!