No seller likes a lowball offer. No listing agent likes a lowball offer. Most buyer's agents don't like lowball offers. Most buyers don't like to write lowball offers.
But they do happen.
Sometimes a buyer just gets it in their head that it's a "buyer's market", and that lowball offers are okay. Some buyers are just looking for a counter to see what they can get.
So... if we get that dreaded lowball offer, what do we do? How do we handle it? Do we counter at full price? Maybe counter at higher than full price? Do we ignore the offer?
Each situation is different and I can't give one piece of advice on how to handle it. I can give this advice:
If your home is priced well and we are confident it will sell near list price, stick to your guns. We can come down a little bit on the counter and see what they do. Most lowball offers are just an attempt to see how much we will come down.
Don't get mad. Don't take it personal. Just counter.
* It's funny. This blog was written a while back when it was a buyer's market in Fort Wayne. Fast forward to today (6/24/13) and things have really changed.
Today's real estate market is definitely a seller's market. Inventory and homes for sale in Fort Wayne are as low as they have been in over a decade. Low ball offers like the one I described above are less and less common. Don't get me wrong. They do still exist, but MOST buyers in the area are starting to see the light and understand that if they see a home they really like, odds are that they are going to pay close to list price for it.
It's amazing to see the change, and it's welcomed by home sellers in Fort Wayne.