Mentality Adjustment

By
Real Estate Agent with Cactus Mountain Properties, LLC
I feel like I just got pistol-whipped by a buyer this weekend!  I have a reasonably priced condo in a centrally located Phoenix neighborhood listed, that after being on the market for 12 days a buyer made an offer.  He offered $15,000 below asking price with $500 earnest money, wants seller to pay 6% of the closing costs, and have the seller pay for the appraisal.  It was everything I could do to stop my seller from turning on me for presenting such an offer.  Don't shoot the messenger! A return bullet of diplomacy fired at the brain helped bring the seller to his senses. What do you have in your arsenal to take care of these situations?  Is there any way to control these random acts of buyer apathy?
Posted by

Barb Merrill Works 4 U!

Comments (7)

M. Suzi Woods (Gravenstuk)
NOW Sharing the life and spice of the GC one day at a time - Grand Canyon, AZ
Suzi Woods, Prior Independent REBroker in MS
I have presented offers less than what the seller wanted. "I am obligated to submit ALL offers in a timely fashion. You can reject it. You can counter it. You can respond with no response. You can think about it or we can take care of it now. Then I start packing my stuff up. Or, its not what you visualized, but how would this feel in your bank account VS waiting, and maybe more waiting...
Sep 10, 2007 03:53 PM
Nora Adkins
Realty Executives - Tucson, AZ
I tell my sellers to never be offended.  We are all after the best possible deal for our clients and the market is changing....so why not try a little more right now?  
Sep 10, 2007 03:59 PM
Jolynne Photography, Creative Wedding Photography, Family Portraits, Bar Mitzvahs
Jolynne Photography - Hemet, CA
Bat Mitzvahs, Senior Pictures, Event Photography

Great question.

One way to handle objections is to pre-frame them before they come up.

In other words, when you take the listing, or even in the presentation, you can mention that you are obligated to present all offers, no matter how wacky.  Then they'll keep their gun holstered!

Sep 10, 2007 04:09 PM
Joe Zapata
Keller Williams Realty Media World - Burbank, CA
Your Burbank Real Estate Expert

I do hate it when these things happen.  It can make it hard for us to do our jobs.

I think that Suzi pretty much spoke aht I would have.  I tell my clients not to be offended and they can always counter back at what they feel is reasonable.  If it is full price with no credits and a better deposit than so be it.  I tell them to at least entertain the offer so we can "see how serious they are". 

Sep 10, 2007 04:16 PM
West Hartford CT Real Estate Agent | West Hartford Realtor | www.CTMike.com
ERA Broder Group - West Hartford, CT

Take a baseball bat... touch it to the ground and then place your forehead to the handle. Run around it about 10-15 times, maintaining your forehead on the bat. Once you are done, you won't be able to focus your vision and should be able to tell your seller the facts of the offer without them getting a good read on your facial expressions. Plus, you'll be focused so much on the spinning, you'll forget all about the fact you're embarrased to present the offer.

Sound good? Or you can just tell it to them straight (no bat spinning).. and then say... "What do you want to do?"

Bat spinning sounds more fun though.

Sep 10, 2007 04:47 PM
Timothy Mertzlufft ABR, e-Pro
Prudential Rubloff Properties - Chicago, IL
I prepare my sellers from my first appointment by letting them know that there should be NO emotion in a real estate transaction.  In todays market, no offer is offensive. 
Sep 10, 2007 05:07 PM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI
I prep my sellers at the time I receive the listing for "lowball" offers.  I tell them to repeat to themselves "It's a business transaction" over and over and over again until they are sure they believe it.  Most sellers are aware before I mention it that the buyers are going to try to get the best deal that they can. 
Sep 10, 2007 09:20 PM

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