We wrote an offer the other day, on a new house that had come on the market. It was priced competitively... $329,000. My clients liked it, and there seemed to be a bunch of showings, so we wrote, what I though was a strong offer.
We weren't able to write a cash offer, but we offered $320,000 with a quick close and a strong preapproval showing 40% downpayment. Not bad, right?
The listing agent responded angrily, "That's too low, and I'm sure my sellers will agree". Well I've never been a big fan of that "pre-negotiation" tactic... show it to your clients before you bite my head off, eh?
They dragged their feet all day, and at the very end of the day responded with a counter of $327,500. Really, just $1,500 reduction?? My buyers felt that the sellers didn't take our offer very seriously... so after much conversation, we agreed our counter went back at $315,000.
The listing agent responded with "Well, that's going the wrong direction!!"... "Yes, I'm aware.", and left the silence there to hang. "They're not going to like that!", he spat.
They dragged things out another full day, and responded with $327,500 (no movement at all)... and added "We have some second-showings tomorrow, so this is your chance to have it for $327,500". We replied that our counter of $315,000 was firm. (how do you like our $320,000 original offer now?)...we added if one of your second showings decides to write you a stronger offer, we'll understand.
Within less than an hour, they called back and accepted our $320,000.
"Some second showings" - my aunt fanny.