Real Estate Blog - Don't be Insulted with the Offer

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Don't be Insulted with the Offer

I subscribe to StarPower's Daily Script by email and today's was especially meaningful and helpful to me as I've had a week of clients who can only be hormonal . . . it is the only excuse I can come up with that isn't too insulting!

I've had 4 deals come apart when the clients are only a few thousand apart. Both with heels dug in and refusing to budge. I've told my Sellers that they must REALLY LOVE THEIR HOME because they just bought it back from the Buyers. Explaining to them that it isn't an auction and they really want to try and stop outbidding the Buyer hasn't worked either!

This morning's script was about stopping the hissy fits I've been having to endure BEFORE they begin. Hopefully, this next script will save the day for me. I have used a similar approach in the past but this one cuts right to the chase . . .

Prior to presenting the offer, regardless of price, this is what I'll now be saying:

"Don't be insulted with this offer. Be insulted with the other people that have come through your house and have NOT made an offer. Those are the ones you want to get upset with, not these folks. These folks are trying to buy your home. Now let's see what we can do to negotiate with this person. Do you want to accept it as is, or do you want to counter; which?"

Isn't that brilliant in it's simplicity?! Just another slant on what I have been attempting to get across to my Sellers. Any other suggestions would be greatly appreciated because this past week has been SHITE and I really really want this week to be greatly improved!

Thanks to all who pop in to read and respond,

Susan Emo
Sales Representative,
RE/MAX Riverview Realty Ltd. Brokerage*
Gananoque, Ontario
613-382-2211

www.SusanEmoSellsHomes.com

Serving the Gananoque, Kingston, 1000 Islands Region
- come for a visit and stay for a lifetime!

*Each office independently owned and operated

Posted by Susan Emo in Kingston/Brockville/Gananoque on 08/24/2008 09:47 AM

Comments (31)

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sellers, buyers, offers, counters

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31 Comments on Don't be Insulted with the Offer

AUG

2008

Hi Susan,

Great post - this is so common. The vast majority of homeowners take things so personally and get so emotionally involved when selling their home. There are alot of negotiating techniques you can use. I think it depends on the person and most importantly market conditions.

Right now, in the GTA we're shifting into a buyer's market - there's going to be alot of offended Sellers. If they think the Buyer's are nickle and diming them through the process, instead of changing the price they could try removing chattels like appliances, etc... This may make their point in a different way.

I've actually be invovled in a transaction and submitted an offer to a Seller to have their agent come back and tell me their Seller burst into tears when they reviewed the offer....There are all kinds!

Good luck and keep swinging.

Hi Susan, we have used that script and it does work. We have started group called "Star Power Group". If you haven't joined yet, we would love to have you.

Ryan - thanks for stopping by and providing your comment. We too are into a Buyer's market and our Sellers are finding it difficult to understand how the market can soften so quickly. I don't ever include appliances (or anything else for that matter) on a listing as we have to use everything we can for bargaining power. I draw the line at negotiating my commission though like many in the area have been doing. It would take pretty special circumstances for me to contribute in that way so I'll never say never. I'll just keep on keeping on and be thankful that I at least have a business that's keeping me busy!

Hi Allen - thanks for stopping by and validating the script - it's great to know it's working for others! I am really impressed with Star Power so I am very pleased to join you - thanks for the invite

Susan - absolutely, we can all be thankful that we have any business! My take on it is that eventhough Sellers may understand what's happening in the marketplace they are emotionally hung up on the fact that they didn't get out ahead of time. The reality is that they should be happy they are getting an offer that's negotiable. In Oakville we have three times the number of listings we did last year and less sales... In time they will come around.

AUG

2008

Susan, Another take on this ''I have great news, I have a buyer who likes your house enough to make an offer". I go on to say it may not be the offer they are looking for but we now have something to work with.
I also do several net sheets #1 In a perfect world #2 What this offer nets the seller. # 3 and #4 counter offers.

Margaret - I like it! Thanks for sharing,

Susan, I always go over this at the listing presentation. It is very much a buyer's market here in the Indianapolis and Fishers area. I tell them that we should try to respond to every offer no matter how low just in case that buyer is just feeling the waters, but is in fact in love with your house.

I like your script...we use them all the time at Keller Williams.

Susan, Another "I have good news and bad news..the good -We have an offer; the bad not what you wanted..let's work with what we have."

Always be thankful to the agent who brings an offer, no matter how low!

The simplicity of the that script is wonderful... these are the people who actually put pen to paper and made an offer, the others are the ones that didn't get it! Now focus on what you have and negotiate to the end goal, which is to sell the home.

Cindy in Indy - I am constantly amazed at what is discussed at the Listing Presentation and how a Seller can deny any knowledge of it down the road :0) I agree that every offer should be kept alive for as long as it takes. Sadly, not all Sellers (or Buyers) understand the concept and allow emotion to rule.

Thanks for stopping by and commenting Cindy.

Margaret - thanks again for another great line. I always send any agent I work with a thank you card and thank them for whatever they brought to the table.

Al and Jodee - thanks for stopping in and commenting. I love any offer regardless of conditions or price and the whole negotiation process. Unfortunately, my latest group of clients have unrealtistic expectations. I've asked Santa for a new group!

Susan, Now that's a classy thing to do... send a thank you to any agent who brings an offer.

Margaret - I am quite flattered! Thank you so much for visiting and your kind words.

Great post Susan. Sometimes I tell my sellers that the buyer is SIMPLY one who must have the last word- for the buyers out there these days seem to be cut of that cloth. Once that is a given, we try to massage things. Sometimes, as a last resort, I ask if we can split the difference 4 ways- buyer, seller, buyer' agent, seller's agent. This almost always works.....and the deal is DONE!

June - thanks for that great idea. I have a deal going down the tube being only $5000 apart. I think the 4 way split may work - stay tuned!!

PS Thanks so much for adding me as your associate!

Great words to use when working with sellers!

AUG

2008

Susan: That is a good script. I have used a similar version with success. Regardless, there will always be sellers who will refuse to sell at what the market is willing to pay. I had 3 great offers on an "as is" property, and could not get the stubborn sellers to see the light. I have since become much more selective in the listings I accept. I will not take a listing that sellers want to list at prices from 2005.

Thanks for good advice.

I love this and it is such a positive approach. We always hear Sellers say "They can always make an offer" when we ask for price reductions, don't they?

I try to have my Sellers refocus on the big picture of what it is they are trying to accomplish. Downsize? Upsize? Reduce debt? Transfer? Then ask them to attach a price tag to those dreams. Then they can decide if the offer in front of them is really worth risking in relation to their hopes and dreams.

Susan, Tomorrow, is another day and it will most likely be better!

I like to show the seller all the other homes the buyer could have written an offer on and point out the reality that we are fortunate to have an offer to work with.

Soon after, if and when the seller takes the offer for granted, I go over his stated goals, and dreams. This combination helps reaching a deal, but does not stop the seller from complaining that he or she could and should have gotten more, regardless of the facts.

Thanks to Buffini, I too have gotten into the habit of sending notes to the Buyer Agent or the Listing Agent in hot or not so hot markets.

Hi Simone - tomorrow is indeed another day and one I'm looking forward to. I can do nothing about the past or future but only enjoy the day I'm in. I have another deal that is only a few thousand apart and neither side will budge one iota. I like your way of going over the stated goals and dream . . . definitely something I'll try tomorrow.

I've always been a note writing fool and that was one of the reasons I clicked with Buffini. Five a day is what I do and I can't imagine not finding 5 people on this planet that could do with an encouraging or thankful note. I've been including one $25 gas card each day for the past few weeks and it is so much fun choosing who's going to get one - I gotta get out more!

Hi Susan A visit to thank you for visiting my blog and making a comment. This post is brilliant. I love your approach ...thanks for sharing and I am sticking this one in my pocket for future use It has to give a

powerful message to the seller.

June - thanks for stopping by. I hope this script brings you success!

AUG

2008

Try this one on for size: I had a FULL-PRICE offer on one of my listings recently, and it fell through for lack of financing. A week later, the same buyer returns, with pre-approval on the house, and places another FULL-PRICE offer, removing the financing clause AND the inspection clause, and wanting the same closing date: in 5 days (vacant house)!!!!!. My seller refused the offer because she was "pissed off" (her words) at the buyer for getting her hopes up the week before. WHAT KIND OF SENSE DOES THAT MAKE??? We have no other offers on the table, and all other leads have come to dead ends; we have only a month left under contract. It's amazing to me how personally some people take things.

SEP

2008

Susan - When I am listing a home now I advise the sellers that the offers I have seen lately tend to come in at about 10% below the asking price. That they need to negotiate from there - Now when I bring in an offer that's better than the 10% below they are HAPPY about it.

Here's to hoping you have a great rest of the year! You deserve it.

April

SEP

2008

Thanks for the scripts, they are good.

Scott - OMG what happened finally? What is the end of this story? Please tell me the Seller came to her senses - restore my faith in common sense, pullllleeeeeze!

April - that sounds like a sound strategy! I had clients receive a full price offer today and they informed me that they would like to increase the list price by $30,000 and turned down the offer!!!! What are people thinking (or drinking?)

I believe in you April - we'll survive!

Brad and Angela - thanks for stopping by. Good luck with the scripts and let me know how they work out for you.

Susan - OMG!! You have a wonderful offer and it isn't good enough. Yikes. Here's what I would say "IF your property was worth more we would have multiple offers and you would be able to garner more than asking price". Good luck with that! I would like some of whatever they are drinking... :)

Thanks for supporting me, it is appreciated!!

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Susan Emo in Kingston/Brockville/Gananoque

Gananoque, ON

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RE/MAX Riverview Realty Ltd - Brokerage 1000 Islands Canada

Office Phone: (613) 382-2211

Cell Phone: (613) 331-4885

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