200k Buyer Looking At 350k Homes Making 200k Offers.

I just got a call from a Buyers Agent who wanted to make a verbal offer on my listing for 200k. The property is listed for 350k.

My first response was..

1. We don't negotiate or accept verbal offers, per the seller and as noted on the MLS under Agent remarks.

2. Why is your buyer looking at 350k homes if the MOST he can ALLEGEDLY pay is 200k?

The buyer's agent quickly asserted that her buyer "could only afford 200k." Again I said.. WHY ARE YOU GUYS LOOKING OUT OF YOUR PRICE RANGE, I'M JUST CURIOUS?

The agent over and over said.. her buyer was just looking for a "good deal." Good deal?

To me it seems the buyers agent and buyer are both wasting their time and my sellers. Ultimately the buyers agent "faxed" us a 200k cash offer citing.. "seller must respond with 12 hours or this offer is null and void."

The demand for a response is both unnecessary and very counterproductive. It's noon, so that means we have until midnight to respond to your offer that's almost 45% below our list price?

My seller directed me to "ignore their stupid offer and idiotic demands."

FACTS

1. Just because you have cash doesn't mean you have sellers cryptonite. You aren't going to bring anyone to their knees with verbal offers and fist pounding demands.

2. If a seller is willing to come down 40% the home would be listed for FAR LESS.

3. It's NEVER a good idea to submit a VERBAL offer! If you're serious PUT IT IN WRITING! Everything else is poo.