Naples Florida Real Estate: WHOA! Don't Pull The Plug So Fast!

With the economy in constant turmoil and other crazy factors making our consumers think there might be better deals if they wait just a tiny bit longer, we're seeing a few people come to Naples, write offers and taking off when their initial bid or further negotiations aren't accepted. In some cases, that might be the best decision to make.  In others it may not. 

Here's an example.

I wrote an offer for some folks who were interested in Pelican Bay.  After the first counter it became apparent what the seller's lowest price was.  The buyers showed serious signs of backing off.

Now typically, I would think...another one will come around and I've already been told by my clients that we have plenty of time but I couldn't shake the amazingly low number the sellers came back with so I dug further into the dynamics of the situation.

After doing a thorough investigation about the property, the sold comps, the active comparables, what was currently pending etc.  and then taking into account what I've seen happen in the last several months and also the fact that there is still considerable interest in Pelican Bay (we should be winding down right now...but we're not), I grew increasingly uncomfortable with letting these people go on their merry way without providing what I learned.

Why?  

First, I know they haven't given up on Pelican Bay.  I also know (in the back of their mind) they're thinking that a better deal will come along.

This is where the guarantees of a better deal fade.   

If they cut this deal on the table they will have in fact made the best purchase for this product year to date in the neighborhood....a neighborhood by the way that has remained steady for the last 24 months.  Further evidence shows that if they make the improvements to the home needed they will have a nice return even though that isn't their objective (flipping that is).  

It's been a long time since I've been able to justify a purchase like this on paper and I feel strongly that this would be a wise purchasing decision.  So wise in fact that I would do it myself...but since I promised my husband that the next real estate purchase for us would be in Colorado, no can do for me.  

I compiled all the information in a nice bundled email and sent it their direction and wait for them to make their decision.

Earlier this year a similar situation took place. 

I had clients who wrote in Bay Colony and then pulled the plug after coming within a hair of a meeting of the minds.  This client, the doll that she is, readily admitted being "the happiest girl on earth" when I told her we had a no go.  She continued to admit that she felt that way for the full 18 hours the property remained on the market. 

Unfortunately it sold at that time and she further explained that when I delivered the news that the condo had sold she had made a colossal mistake which was further verified after learning when it closed that it ended up selling for much more than she had negotiated originally.  What was really sweet about that deal is that it went the precise way that I said it would which made my credibility ROCK.

She admitted all of this after locating the unit she ultimately put under contract so by then it was a mute point.  Which for me was great because I have learned that "I told you so's" are painful for both me and my clients and better left unsaid.

That last story ended happy.  The first story, I'm not so sure.  I do not believe there will be a better deal because we're talking two different kinds of product but I do know I'll rest easy since I've delivered the information needed to cut that great deal. 

So here's my promise to them and you since you happened upon this post.  Should you locate a property and write and pull the plug.... 

NO I TOLD YOU SO'S will be expressed.

If you locate a deal and I feel confident that it is not that great of a deal and you pull the plug...no bundled emails or encouragement to proceed will be expressed either.  No deal or an average deal is not worthy of encouragement and I don't do business this way.

Now you know exactly where I stand and can have faith that I don't have to let the visions of a paycheck cloud my vision for your purchase since I'm already standing on solid ground.

Best Regards,  Your Naples Smart Girl!