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Buyer's Agents- Don't Get Bent When We Find Your Low Ball Offer Insulting
Low Ball to me means way under market value- NOT way under the asking price. As an experienced agent, I KNOW WHEN I HAVE AN OVERPRICED LISTING! But the point of this post is about coming in way under MARKET VALUE and insisting I jump and present in the next 2 hours because you, the buyer's agent, have a warped idea that I MUST present all offers.
Buyer's agent- put yourself in my shoes. I have a properly priced listing. Just hit the market with an asking price of $150,000. The sold comps show that it is worth $150,000 and I have no fear of it appraising. Why would I waste my time meeting with the sellers to present a $75,000 offer? Worse- if your idea of "representing" your buyer spreads to other buyer's agents, I would be spending all my time presenting stupid offers.
If the house is overpriced, you need to realize I can't tell you I agree. But I won't get upset if your low offer is near or slightly below fair market value.
If you write a low ball offer- an offer well below market value- don't present it as it's the only offer we will get. ... more
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