Lancaster County PA Realty Check: "How Much Will the Sellers Take?"

Periodically I get this question from buyers:  "How much do you think the sellers will take for this house?"

It's a legitimate question, but not one that necessarily can be answered precisely by a REALTOR.

The short, flip answer is:  "Well, the seller has already made public that they will accept the asking price for the home!"

To understand the deeper answer, you must know a little more about agency relationships.

If the real estate agent is representing the seller, he or she is obligated to keep certain information confidential.  The reason the seller is selling, may be one of those pieces of information.  What the lowest price the seller is willing to accept, is another confidential piece of information.  In fact, it's quite possible that the Listing Agent doesn't even know and hasn't been told what the seller's bottom line is.

While the agent representing the seller must disclose anything to a buyer that he or she knows about regarding physical defects of the house, the confidential information must stay confidential.  Don't forget, the Listing Agent is representing the seller.  The obligation of the Listing Agent is to obtain the best price and terms for the seller, in the shortest possible period of time.

If the buyers are working with their own Buyers Agent, the buyers agent owes their loyalty to the buyer.  However, since the seller's bottom line is confidential, the Buyers Agent will not have access to that information, either.

Therefore, the Buyer Agent must use knowledge of the housing market, the neighborhood, and his or her experience in negotiation to suggest the best negotiating strategy.  This is one of the greatest values that Buyers Agents bring to their buyer clients.

If you would like more information on how an Accredited Buyers Agent can help you save money and reduce your risk, please call (717) 951-5552 or email brian@FindLancasterHomes.com .

©BrianSchulman2008