I know there are others out there who have buyers who are trying to low ball every short sale property they look at and consequently wasting their own time as well as their agents. I wanted to share what I tell my customers that get into this little game.
"I would like to suggest you guys should take a long term view of the properties you are considering. If you believe like I do that the Palm Beach County(or wherever you work) Real Estate market will turn around and even a property you pay $320,000 today will be worth $400,000 in 5 years then from an investment perspective the $320,000 is worth it and your offer should be close to that number. Of the short sale and foreclosure transactions I have seen for properties in reasonable condition the winning bids are generally within 5% of the asking price."
I have seen too many agents walk away from the business because they are frustrated because their buyers are playing this game. If you can't change the buyers mindset, part friends. When your working for a commission you can't afford to waste time on this game.
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