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Low Ball to me means way under market value- NOT way under the asking price. As an experienced agent, I KNOW WHEN I HAVE AN OVERPRICED LISTING! But the point of this post is about coming in way under MARKET VALUE and insisting I jump and present in the next 2 hours because you, the buyer's agent, have a warped idea that I MUST present all offers.
Buyer's agent- put yourself in my shoes. I have a properly priced listing. Just hit the market with an asking price of $150,000. The sold comps show that it is worth $150,000 and I have no fear of it appraising. Why would I waste my time meeting with the sellers to present a $75,000 offer? Worse- if your idea of "representing" your buyer spreads to other buyer's agents, I would be spending all my time presenting stupid offers.
If the house is overpriced, you need to realize I can't tell you I agree. But I won't get upset if your low offer is near or slightly below fair market value.
If you write a low ball offer- an offer well below market value- don't present it as it's the only offer we will get. The facts are that most properly priced houses in Clarkston, Lake Orion, Oxford area are selling within 2 months. Push the strengths of your buyer and explain that you realize the offer is low, but your buyer is strong, and even know you realize the asking price is fair, it's not what this particular buyer is willing to pay. I won't get upset in this scenario. Some sellers do come down significantly, but don't try to bullshit me about the value.
DON'T send me a list of comps.
DON'T send me a list of faults with the house.
Don't act like your buyer is the only buyer out there. Don't try to BS me that your insult is the best we will get. I know the market and I know the value of my listings.
DON'T use what is becoming the old and tired line that it must appraise. Because it only needs to appraise if it's a condition of the offer.
DON'T expect me to jump and make a face to face appointment when you write an offer I know doesn't have a chance of flying. I will present it- either over the phone or/and via email. I don't HAVE to present it. There are no laws that force me to present it, and don't assume you know what agreement I have with the seller.
I'm a professional and I'm easy to work with. Please behave in the same manner. I have a listing your buyer wants to buy. Keep your personal emotions out of it, act like a professional and as long as buyer and seller can agree on price and terms we should have a smooth transaction.
BUT if you act like a bull in a china shop, get belligerent about your low offer, remember- the housing inventory in this area is low and properly priced houses sell. If we lose your buyer because of his agent, another buyer will come along soon.
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.