The Listing Agent & Seller keep countering my offer at a higher price. What does this mean and what should I do?
If the listing agent & seller counter your offer at a higher price it can mean a lot of things, such as: they're bluffing & you can be the only offer and they're hoping you come up in price; or they could have a price in mind that they want to sell at and will only sell once it hits that price; or they could just want you to come up a little bit and not to their full asking price, etc.,
What's important to realize is that you are in a negotiation phase. We highly suggest sticking to the offer price that you need to have accepted in order to make this deal work as a successful wholesale for you & your financing partners. If $100,000 is your offer price where you make a $10,000 wholesale fee and your financing partner also profits enough for his numbers & to achieve his desired ROI, then you need to stick to your offer price of $100,000.
Once again, it is a numbers game, and you have to make sure the property works for you and your numbers! If this particular deal doesn’t work out (meaning they are asking too high of a price), then go onto the next properties and follow up with this property in 2-3 days, or the next week spending on how hot of a property it is.
There is always another deal around the corner so do not get too caught up on one particular deal.