When a Really Low Offer Says You are Just Fishing

Excellent post, Debbie.  And, like fishing, they can always tell stories about that big one that got away.

You make good points, Debbie. If a home is priced right, it should receive offers close to asking. Clarksville sellers should give you a call.

I have a buyer who would like to make an offer on a home that we believe is well over-priced. I asked the listing agent for comps and gave her the comps I was looking at. She told me that the sellers need to sell at that price point. It has been on the market for over 90 days, no price reduction.

Debbie, looking at a low ball offer from the seller's standpoint says it all. Agents who do not provide their buyers with comps are wasting everyone's time.

Debbie... less than 90% in an offer in many of our neighborhoods signals a fishing expedition!

Just like overpriced homes make other listings look more attractive, low offers make other offers look better.  They should be recieved as little more than an amusement byo well-prepared sellers.

Debbie,

Your point is well taken and right on.  However, in some communities a low ball offer is a way to start the discusssion and move on up to the right price.  Just because, they now live in the US does not mean they will give up their bargaining mindset.  A

Fishing and catching that fish remain to be seen it today's market. No time to experiment but instead reel it in

Debbie,

Your clients must be proud of how you take care of them. You're a strait shooter and you get results.

I can't imagine what the thought process was for that offer. Oh my. Yes, lowballs are always so frustrating. It's like people don't want to get the deal done.

That just shows that their agent probably hasn't shown them the comps and taught them about list to sales price ratios.  Their agent is nothing more than an "order taker."

That's one way a seller could see a low offer...that they aren't dealing with a qualified one.  Not a good way to start off.

You don't want to submit an ALBO especially in a seller's market unless you want to be told to take a hike.  ALBO is my acronym for Aggressive Low Ball Offer.  

Hahaha, clever analogy Debbie. I have told a few co-op agents, in a polite way, to go take a hike recently.

You are exactly right Debbie! I haven't told my Buyers in the same analogy, but I tell them if they have any hopes of actually getting the home to be fair.

So true, Debbie. Sellers aren't willing to negotiate with low ballers any more - we're seeing more and more homes get multiple offers within the first week or two. Less than 90% or 95% of list is simply ignored because another offer is just around the corner.

What really makes me nuts is when I get one of these ridiculous offers in with a corporation in the Buyers space, AND, I know from my showing servcice that the Buying Agent has NEVER SHOWED the property.  Then you know they are really just fishing.

Buyer Brokers seem to bring me 1 of these types of offers every other day or so. i just had a new listing with a flood offeres and the most outspoken buyers who did not have their offers accepted were the ones with the lowest offers. The home went to a buyer just offer asking price. 

I agree.   There is trying to get the best price, and there is just offensive.  Unless a house is truly over-priced or has some real issues.  The market price is what it is.  Buyers need to consider all of the factors before putting pen to paper to be delivered to the seller.  It gives a first impression to the seller that you cannot change.  You get one shot...don't blow it if you really like the house.

Hey Debbie, you can't fault someone for  fishing for a bargain.  Sometimes you can REEL one in but most times they just GET AWAY.