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What is a good offer?

Offers are just that, a offer to purchase the home. some agents and buyers at this time just want to steal something, offer low and hope that they will get it.

My feeling is that sometimes a full price clean offer is cheap and getting a home for $50,000 bellow list is expensive, look at the comps, be aware of the area and at all times represent your client.

My feeling is that many times Agents get in the way of the clients wishes buy posturing and by giving bad advice.

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Posted by Andrew Monaghan CRS, GRI, EPro Associate Broker on 01/28/2008 01:26 AM

Comments (5)

real estate offers, lowballs

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5 Comments on What is a good offer?

JAN

2008

WoW.... getting a home $50,000 below list price ? That is undeard of in our area. We do npt have that type of a market.

I recently had need of some advice on this offer issue. I have done the comps on this particular piece of property and they were way below the price they were asking. When I told my client what I thought the property was worth his jaw hit the floor. He asked what should we bid. Now I am working for the buyer and represent him in every-way and want to get him the best price. So I am in the middle low balling the bid and making someone think that I am trying to get it for a steal. But in all actuality I have a different opinion of what the price should have been to begin with. I have even spoke with my broker about this. My last sale went my way with the price as well. This is really a difficult situation for me. I am new and just learning. So I am looking at all opinions and I will weigh them heavily with mine.

Lowballing is simply bad advice. I advise my clients to not respond to lowballs so the buyer never even gets a chance to bid because my buyers never respond.

JAN

2008

Lowballs are typically the advice of agents I find. Waist of time and paper especially within the first 30 days of the listing when banks are less likely to come of the list price. Many times these lowball offers come from newer agents that want to please rather than educate.

Andrew is absolutely right on the money. If it's too good to be true, then it probably is. Overall cost (both in effort and money) should be considered by the buyer and seller. M.

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