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Extreme Low Balls

By Rob Johnson

Real Estate Agent with Simms Team - Coastal Properties Group

November 16, 2006 01:16 AM

Lately I have encounted two very interesting "buyers" who have called me to look at two of our listings. While I have encounted individuals who want a house, but offer something so low that it will never happen. But in these new cases, the buyer was going around to every house in the neighborhood, offered something very low ($500,000 for a $575,000 listing, and $600,000 for a $825,000 listing) and were making similiar offers to other houses just seeing if some seller was desperate enough to take the offer. Neither buyer was in love with the house, but was willing to take whatever house the seller was willing to have a fire sale at. Strange dealings. I'm glad to say neither of my sellers accepted these offers. Buyer was not willing to negotiate any higher and the "deals" went away. Are others having similiar experiences?

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Leigh Brown

Leigh Brown & Associates, RE/MAX Executive - Charlotte, NC

CEO, Dream Maker - Charlotte, NC

we were in a solid buyer market from 2001 til this year! and i call them 'bottom feeders'. i figure if nothing else, it's good practice for the seller on receiving an offer and talking over the items to consider. =) and then remind the seller-who's usually offended at the low number-that they should really be offended at the buyers who looked at the house and didn't write an offer at all. =)

Nov 16, 2006 01:27 AM

Keith Jeppson - Salt Lake City Real Estate

Everest Realty Group - Holladay, UT

There are always those kind of buyers in the market. I don't care to spend much time with them.

Fortunately the Salt Lake city market is bucking the national trend and seeing sustained strength.

Nov 16, 2006 02:14 AM

Deb Salkeld

Diversified Data Solutions, L.L.C. - Macomb, MI

Your Real Estate Virtual Assistant

WOW - doesn't that sound like a scam? I would hope any seller desperate enough to take an offer off the street would get the funds certified (and if in cash, use one of those special pens that look for counterfeit bills:-)

But guess Leigh has a good point - though if I were the sellers, I think I'd go with being offended by the low ball. The lookers who didn't make an offer, in my opinion, just means that my house didn't fit their lifestyle or personal taste. Sort of like leaving a penny tip vs no tip. The penny sounds way more of an insult....

Nov 16, 2006 02:53 AM

Sharon Simms

Coastal Properties Group International - Christie's International - Saint Petersburg, FL

St. Petersburg FL - CRS CIPS CLHMS RSPS

Good point, Rob. We also need to realize that when one of these "buyers" says that the house down the street will take X or the developer will take Y, that's not always true. Check it out before passing it on to your sellers.

p.s. Good communication among agents can also ferret out lots of the current scams.

Nov 16, 2006 10:53 PM

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