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Thursday, January 10, 2013

What does "motivated seller" mean?

I updated the narrative on a listing recently and included the word "motivated."

Then I get an offer that is quite a bit less than list price because in the other real estate agent's words..."the seller is motivated."

What does it mean when a seller is motivated?

First of all I think all sellers are motivated to some degree.  The degree of motivation is what varies.

A motivated seller is one who prices a property with a realistic, although at times somewhat optimistic, listing price.  To me that is motivated.

Motivated does not necessarily mean a bargain basement price.

If a home buyer is looking for some real estate "low hanging fruit" to pluck then I suggest distressed properties - specifically foreclosures

Remember this rule of real estate though - the price is low for a reason.

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