Don't Let Pride Kill the Deal

It's hard not to get offended when someone makes an offer that's so off of the beaten path, that one can't help but  be offended.  Negotiating
   

Who can blame you for being offended, but here's the deal:  take offense, calm down, regroup, think rationally and then counter.

There now, isn't that better.  Getting a low ball offer is always a 1000 times better than getting no offer at all.  There are few things worse than (or maybe even on par with) a low ball offer and they are:

  • Letting pride get in the way of accepting an offer
  • Not coming to grips with the reality that your home my not be worth as much as you had hoped
  • Not countering an offer at all
If there is one solid piece of advice that I have for sellers, it's don't let pride stand in the way of selling your home.  In preparation for receiving that first offer, I would caution sellers to remember the ultimate objective and long term goals.  This particularly holds true if a home has been on the market a while and has not yielded any offers and then along comes the lone offer.
 
If your home has been on the market for months, first consider that the pricing is all wrong.  Secondly, no matter what the terms of the offer, be prepared to counter offer as this may be the only offer that you get, consider the slow to no showings track record.
 
Every communication with a buyer is an opportunity for a sale.  So don't let pride get in the way of your ultimate goal.
 
Negotiate. Negotiate. Negotiate.

 

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17 Comments on Don't Let Pride Kill the Deal

JUL
18
1,455,176 Points 46 Featured Posts Outside Blog Called Shot Master

Good advice for sellers to consider all offers.
5:39am • #1
1,208,158 Points 193 Featured Posts Outside Blog Attended Rain Camp Called Shot Master
Pride kills ALOT of THINGS. It's so hard, especially in a home that most sellers/ owners understand its value, while a home buyer probably only step foot in it for 30 minutes... Great thought. Suggested.
5:40am • #2
1,033,042 Points 239 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Charita- well said.  You have to start somewhere and you'll never know what the buyer would really pay unless you counter. 
5:44am • #3
1,100,630 Points 51 Featured Posts Outside Blog Called Shot Master

Pride is a wrecking ball in everything... any relationship. Stay tough skinned, tender hearted, humble and a little red hen hard working to have more listings, more real estate sales.
5:56am • #4
587,113 Points 46 Featured Posts Outside Blog Called Shot Master

Emotions run high with both buyers and sellers and when a seller get's hit with an insulting low ball offer often times it's hard to convince them to stay the course and counter.  Suggested.
7:29am • #5
182,824 Points 4 Featured Posts Outside Blog Called Shot Master

Hi Charita.  It is one of our jobs to remain nuetral from the beginning to the end of the transaction.  its not about us, I do agree we are human and have feelings too, however, we have to keep it in check.
8:05am • #6
731,233 Points 103 Featured Posts Outside Blog Called Shot Master

Hi Charita - One of the key ingredients a good agent will bring to a transaction is perspective. Helping our clients see through the negotiating tactics of the other party and keeping their goals in focus is what we have to do.
9:10am • #7
1,055,719 Points 287 Featured Posts Outside Blog Called Shot Master

Charita, You know our philosophy.  Counter.  Counter. Counter again.  Keep going until the buyer quits or you get a deal together.  I don't care how "ridiculous" the starting offer is, give it a go.
9:26am • #8
762,343 Points 69 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This is great advice, Charita.  When we represent buyers we tend to try and talk them out of a lowball offer, but if we can't we can only hope that the seller will see through it and counter.  I always ask the lisiting agent to please counter.  Somewhere there will be a meeting of the minds.
1:12pm • #9
244,267 Points 22 Featured Posts Outside Blog Called Shot Master
An offer is a starting point. We have to remind our clients that pride can get in the way of what makes the most sense. The buyer is testing the water to check motivational temperature. If you reject, that tells them what they need to know the same as if you counter. You have a better chance of coming to an agreement of sale if you counter, wouldn't you agree? That is what I always say. :)
7:12pm • #10
428,870 Points 23 Featured Posts Outside Blog Called Shot Master

Charita...important advice that sellers should follow.  It's hard to get the emotions out of it but it is necessary.
7:52pm • #11
JUL
19
645,006 Points 111 Featured Posts Outside Blog Called Shot Master

Thanks Gita.

Absolutely right Loreena. Pride can kill any type of relationship. A change in attitude is sometimes in order. Thanks for the "S."

Kathryn buyers are notorious for "testing the water."

"Wrecking ball."  I like that Andrew.

John sellers will be well advised to breathe deeply, regroup and comeback with a plan.  Thanks for the "S."

Cheryl I pity the buyer or seller that works with a hot headed agent.

Dick that's the goal.  Sometimes it's easier accomplished than others.

I know that philosophy well BLiz.  One of my favorite sayings to clients is "we don't ever want to be the reason that a transaction stalls." 

Jane we can only hope, that somewere along the line, there will be a meeting of the minds and progress toward a contract and close.

Karen I would agree.  EVERY offer without exception, should be met with the attitude that an eventual agreement can be reached.

You're tellng me Christine. I don't know if emotions can ever be totally removed from the process.
9:00am • #12
607,312 Points 46 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Indeed Charita! So much of our job is helping everyone involved control their emotions...we are psychologists, marriage counselors sometimes just crowd control :-)fairfax county real estate agents Jan and Steve Bachman
11:51am • #13
JUL
20
468,243 Points 8 Featured Posts Outside Blog Called Shot Master

Very good advise Charita! Keep your cool and think about your next strategic move.
9:06pm • #14
JUL
21
709,601 Points 48 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Charita I am so with you on this. I always tell my clients that if a buyer is willing to write 30 pages of Offer & Disclosures and write a 3% check to START the negotiations we OWE them the respect of a ONE page Counter Offer. Hence the short of it "that is why God created a one page Counter Offer":)) The sale begins when there is an offer until then it is just marketing!
12:24pm • #15
JUL
23
1,375,556 Points 151 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

I just had a really really bad offer on a listing and I tried to convince the sellers (as I always do) to counter but they flat out rejected it.  It was pretty bad so I don't blame them.
5:20pm • #16
AUG
01
546,525 Points 121 Featured Posts Called Shot Master

Charita:  This is such good advice.  Sellers get VERY offended, need time to cool down and then counter.  Of course you know how offended they are when the counter is at or above the list price.  LOL
3:10am • #17


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