Case Study: It’s important to advocate aggressively for your client, but sometimes you have to know when it’s time to let up. 

Problem: With our help, our clients found a terrific 1940s era colonial — solidly built and in good condition— in a town south of Boston. Several days after the initial open house, we crafted an offer for $6,500 below asking price. A below-asking offer might seem ill-advised so early in the game, especially in a sizzling market. But when I learned that the sellers had already bought a new home, I knew that for them, time was of the essence. My clients, first-time home buyers, would be willing to close ASAP. I used the timing issue as leverage and we were successful: our offer was accepted.

Unfortunately, the inspection revealed about $7,500 worth of problems, so we asked the sellers to take about half of that off our offered price. At 9 p.m. Friday evening, on my way to NH for some quick R & R, I received an email from the seller’s agent telling me the deal was off. They would go ahead with another open house on Sunday.  

Solution: Lucky for our clients, even when I’m "on vacation,” I’m keeping tabs on business. I quickly assessed the situation, decided that our original offer was still a very good deal for my clients, and then made a compelling case to them as to why. They agreed and at the 11th hour I salvaged the deal: all parties were thrilled. My clients moved in six (?) weeks later and are happy as can be.  

All in a Day’s Work: Solving Real-Life, Real Estate Problems for our Clients is a monthly feature brought to you by Marie Presti of the Presti Group, Inc. Our agents specialize in luxury homes, rehabilitations, multi-families and condominiums in urban, suburban and exurban areas throughout the Greater Boston area. Marie Presti is a Certified Negotiation Expert. For more information, visit http://www.theprestigroup.com