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Don't Be Afraid To Make an Offer...Please Insult Me!

Several weeks ago a buyer called to see one of my condominiums for the second time. When I told her the unit went under contract a few days before, this buyer was surprised and even acted shocked. "I have been watching this listing for a long time. The market is not good and I thought I had plenty of time!"

My point is that properties are selling. When you see a home that suits your needs, don't be afraid to make an offer. Since I make all my own appointments, I know everyone who views my listings. Some buyers have been "trained" to not show interest, but this can backfire. If this buyer had shown any interest, she could have been encouraged to move forward, I could have notified her that there was other interest in the property. It was the right place, the right price.

Offer Agents, please encourage your buyers to make an offer. Worried about "insulting" the other agent or the seller?

Please, please insult away! In this market, buyers have a bit of the upper hand so take advantage of that. I have ratified many a contract in my day where the sellers have previously said, "No way am I giving this house away." Some sellers may not want to take or even negotiate an offer lower than they anticipated, but these days you have to try.

A contract should not be viewed as an insult. It is a starting place for negotiation. It demonstrates that the buyer is interested enough to go through the process, have a qualifying letter, sign all the necessary papers, figure out dates for closing, home inspections etc. I have had agents ask

"Will the seller take $XX for the house?" But this is not an offer, this is not a contract; it must be in writing. They say, "I don't want to waste time by making an offer that will not work." But until you put it in writing, we don't have anything to talk about, we don't know what the terms are.

Property Sold This is where a seasoned agent is worth their weight in gold. (Well, maybe just a full commission.)

The agent now has something to work with. Now you can prepare and present net sheets showing what the proceeds to the seller will be.

The first net sheet says #1 "In a perfect world" - this one has the full list price, 30-day cash settlement and no contingencies.

Net sheet Number#2 says "In the real world" - this is the actual offer in hand. This one includes a summary with price, date, contingencies, financing - in other words, the good and not so good points, but it is what we have to work with.

Remember you have 2 choices, accept or reject. A counter is a rejection and gives the buyer the opportunity to walk.

Numbers #3,#4,#5,#6 are examples of possible ways to negotiate. Sometimes this is price alone, sometimes it is terms, sometimes it is possession, sometimes it is repairs, sometimes it is exclusions, but most times it is a mixture of all these. Now you're ready to negotiate, but it can't start until someone makes an offer.

Buyers and agents, please do not fret about an insulting offer...just do it!

www.HomeRome.com

410-530-2400

Posted by Margaret Rome-- HomeRome Realty Baltimore, Md. on 11/30/2008 08:06 PM

Comments (106)

Negotiation in the ActiveRain Channel

buyers, offer, condominium, insult me with an offer, net sheet

Originally posted at: Margaret Rome's Blog: Don't Be Afraid To Make an Offer...Please Insult Me!

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106 Comments on Don't Be Afraid To Make an Offer...Please Insult Me!

NOV

2008

Loved your phrase " please insult me!" I agree and would be happy to receive any kind of offer on a listing. And encourage my clients to put it in writing even if I don't think it likely to be accepted ... as you just never know!

I agree!! So many listings would love an insult, it shows some one cares!!

Margaret, I'm amazed at how many people are surprised when the home they have been watching forever sales.

Had a client that liked the house but thought the price was too high, I told him to make a lowball offer that he would be comfortable with, no, he wanted to look some more, now the property is under contract and he wishes he had made an offer on that house. When I checked with the listing agent that the sale was still on track he informed me that my client will be sick at what price the house sold for..waiting for the closing to check the price on the mls.

Eileen, We need to encourage offers and make agents feel comfortable writing for their buyers.

Maureen, Welcome to Active Rain and thank you for commenting. Let me know if you would like some help getting started. So many people here are more than willing to share.
Look forward to your first blog post.

A buyer client felt they knew what a seller would and wouldn't take. After careful prodding, I found out they had seen the home before. I asked them if they wrote a contract. They said no, the agent said it was too low!! They wanted to offer approximately 10% under asking price. Considering the home is a little overpriced... I don't think their offer should've been discounted so fast! Shame on that agent!

What kind of nonsense is that. PUT IT IN WRITING!!! No matter what a listing agent's perception of what a seller will or won't take, no one REALLY knows until they put it in writing and present ALL the terms of the contract to the seller. A lousy offer today is soooooooooooo much better than the offer of ZERO the seller's had yesterday!

GET THE BUYERS TO PUT THE OFFERS IN WRITING!

Aloha Margaret, I hear similar responses from agents when I put a listing in contract.

Your comment about insulting is a great point.

I heard a broker make a comment at a meeting a couple of years ago that stuck with me. He heard an agent repeat that he discouraged a buyer from submitting an offer on one of his listings because it was too low and he did not want to insult them. The property had been on the market awhile with no offers. He told the group, if you are ever in that situation do not hesitate, PLEASE INSULT ME, bring an offer.

Margaret, I'm with you on this one, Make me an offer and lets start the negotiation dance...

Marchal, That was wonderful post you wrote for Liz. Thanks for stopping by.

Crystal, It will easier for you to bring them to contract on the next property. Bet it sold for less than she would have offered.

JoAnna, That is our job to get the buyer to make an offer, the right offer on the property. A lousy offer may just buy that house.

Randy, It takes a confident and well trained agent to encourage a "low" offer. If the buyer's agent can get me an offer, it is my job to negotiate. Bring on those insults!

Paul, You lead and I will follow!

This is such a great and timely post! I tell my clients this all the time. The funny thing is how many times the MLS sheet will say 'Motivated Seller' only to find out (after submitting an offer) that the seller is just not that motivated. However...you have not because you ask not. GBU~

NOV

2008

Margaret, EVERYTHING as you said has to be in writing, or there is just fluff in the air.

Hi Margaret - you hit the nail on the head - "Please insult me". If more agents would do this, perhaps just maybe, we could get some of the inventory absorbed a little bit quicker. I always encourage buyers and their agents to bring it on. I tell my sellers that any offer that comes in in writing is a starting place, that a buyer was interested enough to put pen to paper, so let's see what we can do.

A seller may so no to an offer one week, and then the very next offer that comes in at that price or close to it may just do the trick. None of us really knows what any given seller will find acceptable, no matter what they tell us. Their motivation level can change at the drop of a dime - bring on the offers!!

Ann

Margaret, you really just never know which offer a seller will take. A buyer has to put it all on the table.

Margaret - It is hard to get buyers to make that offer right now. I tell them that they won't get that wonderful deal if they don't ask for it. You don't know what anyone will take unless you ask. I tell all of my sellers to consider any offer the first step in a process that will hopefully end in a meeting of the minds.

I also encourage "make offers" as you just never know what the seller will ultimately accept.

Margaret - and, if presented in the right way, the seller won't be insulted by the first lowball offer. I do net estimates up front, at the time of listing, with both full price and low offer nets.

Okay -- looks like I definately fit the "seasoned agent" profile! (lol). It's a good thing we are past Thanksgiving or I could be "toasted". I think I will go for the gold. I always encourage my buyer's to permit me to share with the seller's agent that they are interested -- and that we should start a conversation by putting in a WRITTEN offer. This is obviously much easier if the property is not over-priced. It is difficult to negotitate with sellers are being totally unrealistic.

Margaret - I have seen a number of situations where buyers ha ve waited too long, thinking a home that has been there for a while will sit there waiting for them. Homes ARE selling and folks cannot sit idle if there is something they really like, hoping the price will drop further, or to weigh it against others coming on the market to get the "best deal." As Monika said, I , too, suggest folks make an offer since you just don;t know what sellers will. Same too for sellers who get low offers - buyers may come back with a better offer if countered. Making assumptions can be dangerous.

Jeff

Margaret,

If a buyer's agent can help by offering the numbers, the comps, to back up the offer, y not go for it? You never know unless you try.

Elizabeth, Thought this was timely, If the property is on MLS, motivation ought to be a definite fact.

Gary, Yes, we need everything in writing, no fluff.

Ann, Glad to see you. And you make such good points. Their motivation level can change at the drop of a dime - bring on the offers!!

Linda, We, as agents, need to encourage all offers.

Monika, You really do understand.

Mike, It is up to us to present in the right way. The net sheet takes the emotions out of the way.

Joan, Ha, You are a seasoned and toasted agent. Good buyer's agent will know if a property is overpriced and have the info to back up the offer and be a better negotiator.

Jeff, How very true: Making assumptions can be dangerous in lots of areas.

Rebecca, You understand what has to be done.

Thanks everyone for stopping by and commenting. As an update, that same buyer just purchased another of my condominums and the offer was just ratified.

I put in my listing to bring all offers. As long as I can get someone, then maybe a deal can be worked out.

Hi Margaret - I liked this post so much and thought it has such a great message that I included it in this week's Week-in-Review!

Ann

Ann, Thank you for featuring this in Week-in-Review! You have done so much work and so much reading. You are definitely appreciated.

I agree! Although I don't relish the idea to be insulted. I would like to see some offers roll in here before Christmas!

Greg, By putting "bring all offers in the mls', are agents writing on your listings now?

Lizette, "I don't want to insult you or the seller" is what I hear from the buyer's agent. That's when I say, please "insult me"

I have lost 4 contracts (2 buyers) in the last month due to slow action by the buyers. I feel like shaking them!

Margaret, Congrats on this being featured. It is most definitely a post worth a feature!!

Shake the buyers for not realizing that the market they come from is not the market they're going to. I want to shake buyers who are coming into our area and offering 20K below listing..this is not negotiation..that really is an insult...so what then when education doesnt' work?

Margaret: Great post... One never knows what a Seller may be willing to do. I recently closed on one where the seller was holding tight for what they wanted. We lost 4 buyer opportunities over this. Then along comes offer #5. We by this time, the seller just wanted to put things behind them and after a counter offer, the home was sold.

oh, so true..

I agree, this is no time to be timid. Make an offer!

Love the title, very clever. I like posting titles like yours and the response is usually strong. Getting that first offer on the table is always the hardest one right now.

Nothing ventured nothing gained.

I always tell my seller that at least with an offer they know someone is looking and is interested.

I agree... By all means, write an offer. The worst the seller can do is say no or counter... and counter means conversation and possibly an agreeable meeting point. No harm done. How many prospective buyers have lost the home of their dreams because they were afraid to make a low offer or their agent advised them against it?

I like to provide multiple net sheets to the sellers to show them reality. Too many agents have rose-colored glasses and do not educate their clients on the real world. Great post!

Wow, thanks for the feature. Oh nooooo, more work. Does anyone remember this post?

Please Don't Throw Me Any More Gold Stars

Margaret -- I'm always amazed when buyers find the home they love and they just sit on the fence waiting. Last week, one of my listings received THREE offers after the home had been on the market for almost four months. You just never know.

LMAO!!! I just submitted 6 offers on different properties for a Buyer, they were all under asking price, most asking for repairs (FHA financing), and closing cost money!!! THIS IS exactly what I needed to hear. The buyer and I fretted for awhile and then we said...screw it!! we're writing our offers where we need them to be and we'll see what happens. Afterwards we laughed and said watch like four of them come back with acceptance or counters....Thanks for the reminder, hope all of the agents like insults and can take them to their Sellers as viable offers!!

Well Margaret, if the offer is coming from my cousin, we will insult you time after time, and I let every agent know that we can just laugh at the offer, but it is always my fiduciary responsibility to submit all offers. Have a wonderful Holiday Season.

I always like to say if you don't ask or inquire you know what the answer will be.

It seems everyone takes the wait and see attitude these days and this one just happen to get away.

I agree, you never know until you try and you wouldn't want to lose a house you love because you thought you had all the time in the world. Why risk it?

Maragret - Wonderful and so true post... I too hear that a Buyer was watching the listing and then are disappointed that it is no longer available.

Hi Margaret - I remember that post!! ;-)

Ann

Jonathan and Corine, You can shake them, but it makes them move faster the next time they see a home they like.

Marchal, Thank you for your kind words.

Holly, Even $20K below...present and negotiate. This is not the time to make assumptions.

Roland, If at first you don't success: try, try, try, try and in your case try again!

Sheila, Thanks for stopping by.

Charlotte, Just do it!

I, too, love the concept of "insult me". I routinely tell my clients not to be insulted by the "low-ish" offer that comes in.

An offer (low or whatever) is an indication that the potential buyer likes your home enough to put pen to paper. If you want to be "insulted"... try being insulted by all of the people who viewed the property and didn't like it enough to even bring a low offer!!

Margaret - Excellent post. Realtors need to remember it's not "their" offer, it is their buyer's offer.

Margaret - I love the 'perfect world' net sheet coupled with the reality check net sheet. Experience counts big time when it comes to convincing a hesitant seller to work with an offer - that it might be the only one they will receive for months or ever...

Morgan, I liked the title also. Just got a listing referral because the seller had heard how I encouaged a buyer and their agent to "insult me" with an offer. They did, we negotiated and we closed.

Brenda, You understand.

Sherry, How many buyers, in hindsight, would say "I would have bought it at that price".

Donna, Thank you. Net sheets are one of the best tools we have.

Kerry, Because of all the talk in the news, I find that sometimes the buyers don't believe there is other interest.

Celeste, Thanks for the insight from your buyers. Sounds like you are doing right by your clients. Not so sure I would write offers on different properties at the same time.. . What if they all accept?

Julie, No laughing at offers. Thanks for stopping by.

John, I believe we start selling when we hear the word NO.

Lauren, Please keep risking by making those offers.

Karen, Getting burned by losing a property, makes them easier to work with the next time.

Ann, I knew you would remember that post. "So the trick is to write a post that you are sure will not get a gold star. Write it good enough, but not so good that it gets featured, and then you won't have to worry about taking so much of your valuable time responding" Ann, it didn't happen this time!

'' '

I had a call from a buyer on one of my listings today.

He liked the property very much but thought the price was too high and he did not want to insult the seller with a low ball offer.. . . . . . (I have written permission from the seller to say) This price is VERY VERY negotiable, just make an offer.

Well, it did not matter what I said or how many times I said it, the end of the story was,"keep my phone number in case they come down with the price. . . .

Realtor broker

I'm with you Margaret. Any offer is better than no offer. As an agent with some of my own properties listed I don't know what my true bottom line is, so why would I expect other sellers to. The worst thing that can happen is we end up without a deal, which is exactly where we started.

Alan's comment was great and one to remember.

Go ahead make an offer in writing and we will go from there.

I love it when you present an offer and the seller says the offer is an insult. Then ask them how many showings they have had and how many offers. Then remind them that the people that viewed the house that did not bring offers didn't want the house at all. THAT IS INSULTING!

But these buyers love the house enought to bring an offer. It might not be what the seller was hoping for but an offer.

At least that's the way I see it.

Hi Margaret~ In order to sell a house, the Best and only way to start is with a OFFER. I tell people all of the time, it's not MY house, you are not offending me. If you like it, write an offer!

Dont be afraid as listing agent to write an offer to the buyer!

Margaret: Great post - but I think there is another issue at play, and it's no coincidence you're seeing it with condos. Usually, YOUNGER BUYERS are afraid to make "less than full" offers because Gen Y has been raised to "not rock the boat." As a result, they are not just "intimidated" but actually socialized not to "insult" someone else. It's part of the "everyone gets a trophy" sports mentality and "no dancing in the end zone" if you get a goal (or a good deal on a home).

There is a real, measurable sociological phenomenon with real estate first time buyers who won't make offers at open houses (with or withiout their agent) unless they are able to pay full price. And since many younger buyers may start in the condo segment, it may be that you're going to find it there more and more.

Some people may say, "What? Aren't these the same people who BID online at EBay for cheaper than-full-price stuff?" and I'd answer - YES _ but they do it ANONYMOUSLY. You don't make "under" full price offers on homes anonymously, though. It's one thing to post something insulting or cheap online where you can just be NoNameBuyer1979 but when you have to make an offer on paper with your real name, Gen Y is going to clam up.

It gets even stickier when Gen Y shows up with Baby Boomer Mom who has the checkbook and starts negotiating everything, commenting on how outdated the kitchen is, etc., etc., The embarassment factor will soar and the Gen Y'er will slink out of the room; and probably will discourage their Boomer-parent from making an offer.

Welcome to the "next generation" of real estate buyers. It's not even the "listed" price that's the problem; it's the social context in which "offers" are made and traded. This generation doesn't do that very well. Same reason MOST pay "sticker price" at the car dealer...

- Matthew Ferrara

www.matthewferrara.com

Margaret,

I completely agree with you. Nothing asked is nothing gained. I have a few buyers that I am working with and I tell them the exact same thing. The question I hear most is "What do you think they will take?" I tell them all, " I dont know, I work for you not them, so lets put it in writing and see what they say?" I love that phrase, and your post reinforces that.

Thank you -- YOU ROCK

You are so right.

Representing my buyers, many will make really low opening offers and I have had to coach the listing agent to come back with a counter without giving my clients away. They sound personally insulted which should not be the case.

Today, most of the properties my buyers have been interested in are REO's and we will get blown out of the water with low offers since they are very competitively priced. In our area, the REO's are being sold at an average of 101%.

On the listing side, I have always told my sellers to never be the one to walk away from the deal and to just counter the offers (or the counters.) I had one think he was giving the house away until he spoke to his friends. Of course.

DEC

2008

I am glad to see this post featured. It is a must read.

Hi Margaret, I hope you and TLH had a wonderful Thanksgiving.

Needless to say I agree with every thing in this post. As a listing broker I LOVE offers. I don;t care how low they are. And Buyers need to realize that the homes that are priced right are flying off the shelves. If you see it and you like it....make an offer.

Margaret,

I do think there is that premise not to waste time making offers if they seem low but in this market...you never know...most properties that are even priced in the market may not even be the same by the time they get an offer so anything is possible...there are some agents who will arrogantly just not return the calls thinking that but in the need the sellers might lose if they don't at least present it.

Great post and many great comments. I agree with you and don't understand (not at all) listing agents that feel different.

The really goooood thing is if you get really lucky and have priced the listing to sell,..you can still actually get competing offers...it warms the cockles of my little heart...and wallet ! Oh yeah,,.PayPal and I are not friends....you can spend a half a day on the phone with those folks and still not get the account resolved,,..Santa wants to bring me your book...what's your next idea ?

I received an offer over the long weekend. We got ot 2500.00 of asking price. My seller would not budge and they own it free and clear. The buyer would not budge, he was qualified and it was only 13.86 more per month. I ran the numbers, did the listing agent for her clients? She said they spoke to their lender. Did they? Seems like something fell through the cracks.

IMO this is ridiculous for both parties not to move some more. Sorta takes the fun out of marketing, if seller doesn't care. Now they will be in AZ all winter and pay for snow removal all winter. Do I get it, NO!

Sort of reminds me of the "best offer option" on Ebay. If you don't make an offer, you'll never win.

What's the bid deal about making an offer?? GET OFF THE FENCE.

All that can happen is you get accepted, rejected or countered. That's it.

Some buyers have to get a rejection to come down to earth.

Good Morning Margaret, Great post - I agree. Let's get the ball rolling, right?

Margaret, Great post and so true. In a market where homes stay on the market 2 or 3 times longer than the norm, what's better than an offer in writing?

I always encourage my buyers to make an offer. If a buyer says, "not at that price" , I always ask them what price would they by it at and then encourage them to write that offer.

I never, never, never make an oral offer. It must always be in writing.

Great Post --- I can't figure out why Buyers are not making more offers -- there are some great deals and it is amazing what Sellers are willing to accept -

Money talks and, well, you know. Until something is put on paper the chances of closing are zero. Insulted? No, once they write, odds are you are going to sell something...

I agree!! An offer is better than no offer now adays!

I SAY "Bring 'em on!!!"

Margaret -

Great post, and such good sense!

As Listing Agents, we still need to protect our clients' interest in every way - so we need to guard against ENCOURAGING a low-ball offer. However, we need to encourage buyers and their agents to put something together if they have the interest.

Some agents around here a testing what they call a "Reverse Offer." Here's how it goes.

If a listing agent sees someone who is interested in the property, but has not written an offer, perhaps after a second showing, the SELLER writes an offer to purchase, requiring only the signature of the prospective buyer.

Say, for example, the Listing Price is $400,000. But the seller is willing to accept $385,000. The seller would have the listing agent write a contract with $385M and an acceptable closing date, and present it to the buyer's agent to present to his client. As with a conventional contract, this offer can either be accepted, rejected, or countered, but at least it gets the ball rolling.

Sure, this could generate a low-ball, no matter what you write, but, these days, it might just get the home sold. Not applicable for all homes, or in all cases, but could be one of the arrows in your quiver.

Your thoughts?

Hope all is well, Margaret - Happy Holidays!

Sue says hi!

DEAN & DEAN'S TEAM CHICAGO

Insult Me Too! Most of my listings right now are short sales. The sellers will entertain any offer, and they are just subject to bank approval. We have a good idea what the bank will accept and the closer to list price they come, the better chances of acceptance (we price competitively)

Margaret - I am so surprised at the number of agents that haven't figured this out yet! With the interest rates where they are and the inventory, buyers should be taking advantage of this opportunity and buy a home! I hope you had a wonderful Thanksgiving!

Margaret, good article. Put your offer where your mouth is...never negotiate with just your mouth. I always tell my home buyers if you don't try you know you WON'T get the house. Like you said it's not ALWAYS the price.

All these wonderful comments! Are you guys trying to keep me from listing and selling today??

Alan, So true. "An offer (low or whatever) is an indication that the potential buyer likes your home enough to put pen to paper. If you want to be "insulted"... try being insulted by all of the people who viewed the property and didn't like it enough to even bring a low offer!!"

Darla, Good point..it is the buyer making the offer.

Sharon, Perfect world net sheet is something I have been doing for a long, even in a strong market, with multiple offers.

Anne, ...and what price would you consider.

Terri, I would like to talk with you, Think I might be able to help get you an answer.

Kathleen, Agreed...Alan's comment is right onl.

Bob, You see it the way it is.

Vickie, If you like it; write it!

Shane, Think I will give that a try. Have offered but followed through

Matt, Anonymous offers on Ebay.How interesting. That is the reason, I've found auctions work now. Gen Y showing up with Baby Boomer Mom just happened this week. As an agent, I need to know how to handle both at the same time. Wow that's another entire post.

Greta post, I like your sense of humor and your net sheet variations!

I completely agree with you Margaret! A low offer is better than no offer!!! Great post and congrats on the feature!

Margaret~

Here you are again with yet another post that proves why I subscribe to your BLOG. Although I may not comment each time I read ...I do read each time you post! Good advice: "A contract should not be viewed as an insult. It is a starting place for negotiation...." THX!!

Amen, Margaret! Buyers shouldn't be afraid to make an offer, no matter how low. An offer is an offer, who knows what the seller is willing to accept?

In this market, offers..any offers help the seller with price. It really does show them what the market is bearing at that time. And, also, you never know.

Hi Margaret...When working with buyers I'm sometimes surprised at the low offers they come up with and then equally surprised when the seller accepts or at least comes back with a very good counter. This market has even some experienced agents guessing at what is "too low". It seems sometimes nothing is.

Kate

P.S. Very timely feature.

Well the realtor will be happy when I decide to be in the market! I am way to impulsive to not put an offer on something that I like! Great post with a great perspective.

I suggest that the sellers not get angry with the people who wrote a low offer - but rather get angry with the people who wrote no offer at all.

And part of reason why I have been so successful this year is doing exactly what you suggested - and we hung in there even after there was no response from the sellers. .... they eventually come back to us... It worked great!

I have received these calls as well from buyers and agents. All saying htey were watching the house and waiting for the price to be reduced to price they liked. Has everyone forgotten (agents and buyers) that an offer for less than list is Ok to write. It sis funny to because thesse same agents also hear from sellers we want to leave some wiggle room in the list price. Write offers and negotiate. This is true real estate and what we get paid well to do.

Had it happen the other day. Buyer agent wanted to know verbally if my seller would accept their lower then listing price offer. Bring us the offer and we will discuss the offer with whatever contingencies. And this Realtor is not new to the business.

Steve, Question:You ask what would they take? Answer: The list price ! Question:Would you like to offer that? Answer: No Question: Ok then what would you like to offer?

Sylvia, Thanks for you insight

Randy, You say the nicest things!

BB, We had a wonderful Thanksgiving! I know you agree because we are so much alike in our business.

Neal, Waste my time with an offer in writing. Anyone can close a full price, non contingent, cash offer.

Mark, Thanks for stopping by. Remember 7% of the agents do 93% of the transactions.

Sally and David, I do think you are going to get your Christmas wish.

Sally, "There are some things you purchase Mr. Seller, that you get to keep for a long time, like your house."

Diane, You gotta play to win

Lenn, Exactly, what's the big deal? I know you have no hesitation about making an offer. Hope one day you will be writing on one of my listings.

Margaret, decided to stop by after Ann Cummings recommended this post. I am not disappointed. Any offer is a good one. It means someone has stood up and raised their hand and said "I want this property THIS much!"

I've had a number of listings sell at "insulting prices" in the past year - the sellers were not happy, but they were willing. If the buyer hadn't made their "insulting" offer, they might have lost out on a great opportunity, and my sellers might not have sold their properties.

DEC

2008

Margaret,

This post is full of great advice for buyers. In this market, it's hard to say what is doable especially if a house has been on the market for a while.

I am the queen of lowball offers...but I do require that all offers be put in writing. Many times the terms are just as important as the price. I am also a huge believer in the counter a or counter b approach...instead of just saying no or just offering one counter...I always like to counter with an option A...which may be a higher price with all the same terms or a counter B which may be an agreement to the price but a change to the terms. It is much more effective than yes or no...try it sometime. Also...I have learned to always ask for something that you really do not want...something that you are willing to give up...works like a charm...ahhh the psychology of the offer ;-) Another lesson learned..you never get anything unless you ask for it.

Ooo, such a good post Margaret! Thanks for sharing and greetings from warm sunny Paradise!

Team Paradise Logo

I encourage buyers to make offers, even low ones, and some of them turn out to be pretty insulting.

Gene, Roll that ball

Barb, You understand.

Brien, YOu know how to work in this market.

Jason, Mine is not to question why........

Frank and Jodi, Knowing how to respond t a low offer is what we get paid the big bucks for.

Raylene, So true!

Kat, Bring 'em on!

Dean, Have you tried this "reverse" offer before. Like the concept and worth a try.

Matt. Short sales are different than the traditional listing I am referring to here.

Connie, You are the best

Gena, It is not always the price

Russell , Glad you like my humor.

Emily, Thank you.

janeAnne, Thanks for reading and subscibing. You do so much for the AR members.

Kris, You are so right...who knows?

Angelica, You never know.

Kate, I have been surprised at sellers responses.

DEC

2008

A course in real estate should be required for EVERY business person, even if they never buy or sell a home. It's the perfect example of how the market changes based on external influences, how buyers and sellers come to common ground, and how negotiation covers all parts of the agreement, not just the price. It's also an object lesson in what happens when either of the parties is unreasonable - neither one gets what they want!

Peg, You win! You made the 100th comment! Opps got carried away......you don't win anything!

A required course in real estate for everyone in business. This is nteresting because negotiation is mandatory in everything we do. In a good transaction everyone needs to feel they lost just a little.

Is the book here yet??

DEC

2008

Wow a great response. I felt the same way when selling my home. Show interest, don't keep it a secret.

Mike, It's just plain ole common sense. Welcome to Active Rain. Look forward to your first blog. Let me know if you need help getting started.

DEC

When I was a Realtor in Houston many decades ago I always wanted offers, regardless of how "insulting" they might be. It's easier to work with buyers and sellers when there's an offer on the table than with no offer at all.

DEC

Amen, insult away just put something on paper. I would be interested in getting the economy moving again how about you.

Shelton

Russel, We all want offers to start the process.

Allen, I am all for getting things going.

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