"Lowball Offer?" Let's never again say "Lowball Offer" to our Sellers.

Prompted by Richard Weeks' Blog this morning, "I say a lowball offer is better than no offer at all."

I am in agreement with Richard's point, but we should go a step further.  Let's never again even murmur "Lowball Offer" to clients.

Establishing Expectations and Goals:

We need to establish expectations in our Sellers, and one point that needs to be established is that there is no such thing as a "Lowball Offer."  "Lowball" is a term that is loaded with emotional overtones.  And we are being paid to reduce emotions in the interaction.

I tell my Sellers, "There is no such thing as a "Lowball offer."  If it is 8 bucks and a ham sandwich, I am going to tell you.  And you are not allowed to get angry.  We have a goal to get you a great price for your home, and getting angry is not productive.  Always bear in mind, the only number that matters is the final, net proceeds from your sale.  Keep your eye on that ball."

Offers are either "Accepted," "Not Accepted," or "Negotiated."  Either "Accepted" or "Negotiated" should be any Agent's goal.  "Not Accepted," like the big RED scrawl "REJECTED" in the example that Richard mentions, may be posturing for ego gratification more than aimed at selling at a great price.  Agents who pander to and encourage their clients' outrage at offers do a favor to no one with their unprofessional behavior.

Winning the Battle and losing the War:

Eight years ago we tried to buy a home in Cary.  FSBO.  We offered $178,000 on a $187,000 asking price.  And we got slam-dunked.  The Sellers felt "Lowballed" and "Insulted."  Two silly knee-jerk responses.  They should have countered with anything, or said that they preferred a full price offer, in a professional way.  They would have received full price.  My wife liked the house.  But, their price was "Firm."  And the crudely frosty letter they sent instead of a friendly phone call gave us pause about coming back to them.  I told my wife, "I think we have been disqualified from owning their home," and she agreed.  And 90 days later, they sold for $180,000, never knowing that we would have paid their full price had they handled if differently.

But, they got to stroke their egos in their determination to brush us off vehemently.

Let's never murmur "Lowball" to clients...

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Mike Jaquish, REALTOR® 

919-880-2769  www.MikeJaquish.com 

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Broker Associate, KELLER WILLIAMS® Realty, Cary, NC