-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
;)
;)
;)
Find OK real estate agents and Tulsa real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
19 Comments on How to present a crappy offer to my Tulsa Home Sellers - don't kill the messenger!
From the buyers point of view, they will never know how motivated your seller is until they ask?
Low-Ball is usually a "price sensitive" offer (I would tell the Seller to counter and play the game)- Crappy is out & out too filled with ridiculous requests - from price to terms... any serious buyer knows better! You can take a few minutes to counter each term, or simply reject the offer and send the Buyer (and Buyers Agent) back to the contract writing room)
I have no problem rejecting crappy offers - the Buyer usually walks anyways - even if your seller agrees to the terms out of desperation - IN the end, they were no further ahead! GOOD LUCK with the offer! Cheers - Wendy Betts - Vancouver BC
Chris, I get that - but this offer is ridiculous.
Wendy - we're going to counter - I don't believe in rejecting an offer. Thankfully my Sellers are not in a desparate situation!
Being the bearer of a "bad offer" makes you feel teribble for your seller, maybe the next one will be better, good luck.
Your Friend in Charlottesville
Hi Lori, sounds like the Buyer doesn't have the money to even be offering on this house. I would counter by cutting out the extras and focusing on the right price. Good luck and stay warm.
Lori, Sometimes presenting such offers can give you more information about your Seller's true bottom line. Yes body armor and treat your self afterwards! Good luck!
Gloria
Can I offer a different perspective? I have moved 40 times in my life. We've sold a few houses. We've had a few "crappy offers", but none that we felt the buyer was trying to insult us, it was what they had to offer. We had the right to refuse it or counter it. Once, we settled for one of those crappy offers, we wanted to move our whole family out of state at the same time, and couldn't wait for the economy to turn, (summer of 90). Once we were the buyers, offering what was considered a crappy offer. We heard from the neighbors that the seller had received the same offer A YEAR before ours and had said he would burn the house down before he would accept an offer like that. He took our offer. As a stager, we hear sometimes that "even with staging" the seller took a beating, but the reality is, the house sold for what the CURRENT market would bear, to the buyers who were looking at that time...in these times, to have a buyer interested is a good thing, maybe they will see that silver lining...
Charles - we possibly have a 2nd offer coming in, and I'm waiting on it before I present.
Tricia - I'm guessing the extended closing date means they're waiting on a tax refund for downpayment, and if they really need 6% closing costs, you're right - they can't afford it.
Gloria - it's a great house and I'm quite sure my Sellers will wait for a better offer.
Cheryl - I appreciate your perspective. If my Sellers were in any kind of predicament, I might feel differently. But, it's a great house and my Sellers do not need to give it away.
And, we do possibly have another offer coming in. Since these Buyers did not submit a pre-approval letter with their offer, I've requested one and can wait to see if the 2nd offer transpires. Will be nice to have two offers to compare.
Hi Lori, Maybe if the second buyer knows there is another offer, that may help them to be more reasonable going in - if they want to be sure not to lose the home, while playing games. I always tell Sellers I am working with to just counter with what they can live with -- irregardless of what the buyer may or may not be able to afford. I also tell them that many times an offer can be worked up to what is reasonable and agreeable to both parties -- sometimes buyers just have to ask. And not to take it personally -- just appreciate the offer and let's see if we can get it to an acceptable state.
Joyce - very good advice. As a colleage said to me today, "this offer is better than the one you had YESTERDAY!!" Must keep it in perspective!
Seriously though, I would not have allowed Buyers to write this type of offer. They're asking for 6% closing costs, which is almost $17,000?
Lori - Yep, there is more to an offer than the price and like you said if they're going to come in low on price they need to make the other terms strong. I know so many buyers think they can have their cake and eat it too, but that's usually not the case, well not in my area anyways.
Oh my, Lori.. sounds like a good time to say, "This is the kind of offer that I hate to present".. Good luck.. I've seen some like that finally get right but, "It ain't fun gettin' there!"
If anyone can do a good job on this, it's you.
:)
This is a tough one. We have to present all offers to our clients, but in this case I would have told the buyer's agent not to bother writing. Good luck. Counter at full price :)
I hear ya', Lori, and appreciate that your sellers are not in a rush, which is a good thing...they can turn it down, or counter. A good place to be, the drivers seat. I guess my point/perspective is, the same as one other comment above, don't take it personally, and hopefully that attitude will rub off on your sellers...I used to work with a guy that would use a classic line whenever we got ruffled at some "thing". He would say, "It ain't cancer research"...it always put things in perspective for us. Best of luck with your second offer, maybe a bidding war will take the price right back up! =o)
Lori - If the offer is too low or has really crazy conditions, I counsel my clients that they don't have to counter. They can simply say that they choose not to counter to this offer, but would gladly entertain a new offer from the prospective buyer. It sends the message, "Nice try, but we're not desperate." If they really want the home, then the buyers will submit a new offer. As for the agent, the agent really has no choice but to submit what their buyer client wants. Not every client listens to us, so don't shoot that messenger.
Michelle - exactly! If you come in low on price, at least make the other terms attractive!
Judi - thanks for your vote of confidence!!
Jane - Buyer's Realtor didn't consult me before he wrote the offer and yes, we too are obligated to present all offers. Thinking of countering ABOVE list price!
Cheryl - I think it's been good for me to vent before I even speak to my Sellers. My attitude will affect their attitude, and I need to be professional. Love the line, "it ain't cancer research."
Gail - very good point about not shooting THAT messenger. Thanks for bringing that to my attention!!
Lori, wow. We get offers like that as well from what I call brazen buyers. Yes, you don't ask you don't get, but if their agent is doing their job, they have seen the comps and shown them to the buyers. At some point, my sellers are so insulted they don't want to counter, but on the other hand, an offer in hand is not to be dismissed in this market. I would counter the offer taking out closing costs and adding a respectable deposit and reducing the repair allowance. Good luck!
Lori - I recently read a post from Cynthia Larsen where she had submitted a crappy offer (against her advice) for her buyers. The sellers listing agent sent the offer back, no counter and the words "Rejected" in big red letters stamped across the offer. If that wasn't a clear message, I don't know what was. Cynthia and her clients put together a better offer and resubmitted.
Thanks Sharon and Donne - we did not receive the 2nd offer, so we countered. My Sellers were champs!
Everyone in the Rain calmed ME down so that I could be more professional in presenting this offer. I am thankful for your input!!