I am incredibly fortunate to be surrounded by a company full of people who do everything they can to support one another. If you try to take on this business right now 100% on your own and the only person you're looking out for is yourself then good luck. I know that I need the support of my Broker, my fellow Realtors, the lendors, and in a sense my competitors in order to be successful. So I ask you...what good does it do me or anybody else in this business to repeatedly sell each other short?
We all want to sell homes. We all would like to make money. But at what risk are we willing to do so and how many of us are really seeing the big picture? Yes, there are incredible deals out there. Yes, there are opportunities to get property for a steal. Just be sure to recognize it! If your idea of selling real estate in today's market is to encourage buyers to continue to lowball time and time again when they've already got a great deal could actually do more harm than good.
In terms of myself as a Realtor obviously it's affecting commission and a chance to make as much money as possible. There's a general consesus throughout my company that not many of us want to work with a Realtor who we know encourages their clients to do this relentlessly within one transaction. Again, go for a deal but know when enough is enough and draw that line. For the community, it continually brings down property values throughout the area in which we are trying to sell. It hurts the home owners not only fiscally but then I'm sure their feelings take a hit.
Low-ball offers are a part of this business whether we like it or not. If that's the route you want to go then do the research and find out the motivation and driving factors behind a seller putting their home on the market. If financial difficulties are a big part of it then encourage your buyer to meet halfway so that the seller feels the deal will be beneficial to both parties. If the seller feels as if the offer is an attempt to satisfy them as well then they are way more likely to accept. No one wants to feel as if they are getting walked all over.