Strategies for Overpriced Offers

I sold my apartment back then without a real estate agent, it was quick. Back then, there was no internet yet, I placed an ad in the newspaper stating that my place (description, without pictures, but with the address) could be viewed on xx.xx.19.. from 10-12 am. A kindergarten mother came a day before, she knew me, on Saturday 4 interested parties came. On Monday I gave my neighbor a ride in the car and told her that I was selling my apartment (small residential complex). She then said she was interested and would pay DMxxx.xxx. And I promised it to her that day and sold it to her later. She had never seen the apartment before. The others called on the same day or the day after and partly insulted me because they couldn’t get it (real estate was a bit more expensive in Germany before the Asian crisis and then everything went downhill). Some wanted to pay the full price, the neighbor got the apartment a bit cheaper. The reason being, she worked at the bank, I knew her, I knew that I would get my money exactly on the day I needed it. For the viewing, I created a pamphlet about my apartment.

I know from an acquaintance that back then in the area where they wanted to buy a house, they did a "leaflet drop", a small letter in the mailboxes. That’s how they got their property, also about 10 years ago.

My daughter had to pay more than the listed price for 2 properties in London, the demand was too high. Both are/were great properties and were sold again a few years later with a profit. Both in the UK and with us in OZ these horrendous broker fees are not charged, it’s over 2% which the seller always pays, he is the one who appoints the broker. A lot of effort (advertising materials) is also put in by the broker if you want. Well, selling houses here like in the UK is nothing exciting, people move much more frequently than in Germany and the process is therefore much simpler. You also have nothing to do with the whole transaction, that’s done by a settlement agent, so no notary and listening to an hour of chatter.

I have no desire for the hassle and negotiation with any people and the absurdities encountered in the process. For this reason, I am glad if someone takes that off my hands – and in the case of selling real estate, that is a broker who represents my interests as the seller and ensures a good and fair deal.

It is not possible for me to run negotiation and communication topics like a seminar here in the forum. You can assume that people have more goals in every negotiation than just money. There is always an effective approach for a successful negotiation in this, which can lead to a good result beyond the polarity of "winner" and "loser". You can think further and see in this direction. Whoever your negotiation partner is, what exactly moves them can be very different. Sometimes it is the satisfaction of vanity, sometimes it is power, sometimes recognition, sometimes belonging, there are plenty of motives. It is also worth taking a closer look at that.

The goal is not "money", but "more money" & "maximum money". Sorry. This is usually exactly the situation as soon as a broker is brought into the game. Yes, there are certainly exceptions. I have met them too. But even then – as often described here – sometimes family gets involved later, and suddenly it moves towards a bidding competition. The market often doesn’t allow deeper getting-to-know and negotiating situations. And even if it does – what’s the use if then ten picture-perfect families with small, cute children are on the shortlist? Ultimately, there is only one strategy – look at your finances, listen to yourself about what you are willing to spend and how strong your desire for a property is at (almost) any price. And that is exactly what you can and should offer. Just go there, yes, I would buy, this is my bid. Can we quickly fix it now, or I keep looking. Something always comes up, no matter what you think in the situation. Everything is overpriced right now, and every week someone stands up with their broker and tries to add another 10%. Of course, everything comes to an end on site – the high earner will not suddenly live at the price of a top property somewhere in a B/C area between socially weak pensioners & low-wage earners with inherited houses and send their children to a hotspot school. That’s why, participate, look, and also bid sometimes. Don’t despair and wait. Every market turns eventually. You should have noticed that in recent months.

The offer price is realistically appropriate on the market and not a fantasy price, and the commission is 2.98%, below the otherwise usual 3.57%. No idea why that is.

That is net plus VAT, then it fits again.

That is net plus VAT, then it fits again.

I'm not that stupid..... it says 2.98 INCLUDING VAT there

... It's great when you have someone with you who masters “Tellreading“. Sometimes things just go well for someone else. That's how it is.

you can easily find someone like that among the professional poker players