The Sheffer Team

 

Truthfully, it is rather rare that a seller’s motivation will dramatically affect the price of a home, but it is often possible to save a few thousand dollars. The most common "motivated seller" is someone who has already bought his or her next home or is relocating to a new area. They will be under the gun to sell the home quickly or face the prospect of making two mortgage payments at the same time. Since that can drain a bank account quickly, most sellers want to avoid such a situation and may be willing to give up a few thousand dollars to avoid the possibility.

There are also family crises that can motivate a seller to make a quick deal. However, when you see a real estate ad that mentions "divorce," "motivated seller," "relocation," or something to that affect, beware. Although those facts may be true, that does not necessarily mean the seller is motivated to make a quick and costly sale. Most likely, the ad is more designed to generate phone calls and leads rather than sell the home.

           

However, there are times when a seller is truly distressed, willing to make a quick sale and sacrifice thousands of dollars in the process. With the seller’s permission, the listing agent will post this information on the listing remarks within the Multiple Listing Service. They may also inform other agents during office meetings and association marketing sessions or by flyers sent to other real estate offices. Provided this information has been made generally available to Realtors, your agent should know when a seller is truly motivated and when it is just "puff" designed to elicit high interest volume in a property.

                   

An exception is when an agent has procured a buyer for a home that they have listed themselves, or selling a home that was listed by another agent from their own company. In such a situation, the agent may be acting as an agent representing both the seller as well as the buyer, or as a "dual agent." In such a situation, they cannot legally provide you with the type of information that would give you an advantage over the seller.