Home > Blogs > Damon J. Brockenberry > Damon J. Brockenberry's (damontheagent) Blog

Low Ball Offers - Your Washington DC Area Realtor

By Damon J. Brockenberry

Real Estate Agent with Keller Williams Preferred Properties DC: SP98364962 MD: 601648

August 02, 2011 01:47 AM

It's currently a buyer's market which means buyer's have the upper hand in negotiations STOP right there. Please get that thought out of your head. Real Estate is and has always been based on location, location, location. What applies in one state, city, zip code, or subdivision does not necessary apply to ALL. It is as much local as the mail person. Investor's no matter what market it is are always making low ball offers. It's what they do so of course they are gonna insult the home owner or play on distressed home owners because again that's what they do. With the availability of viewing houses and information on the internet many people think in their mind they are expects on negotiations. Then encounter the frustrations of making offers only to get them rejected or countered and then they wonder WHY? Let me explain the why, unless you have done your homework on the local market you could be in for a headache. For example in the Washington, DC area, the local real estate market varies. Washington DC which has been the hottest market since December 2010 is the total opposite for Prince George's County in Maryland which is right across the bridge. If you do not at list offer the list price in DC you will just be killing trees because most listed properties that are priced right and some that aren't even are having multiple offers on the 1st day. In PG County in Maryland is totally another story. Low Ball Offers are the normal for investors or wanna be investors who don't have a clue. Sometimes I think with some of them someone told them in a class insult the owner and if they are desperate they will accept your offer. Professional investors are totally different but these wanna bees are also killing trees and wasting time. It's a good reason many are not successful. So again before making any offer, especially a low ball offer. Study the local market, consult an experienced realtor, or continue to play lottery like everyone else, yeah someone eventually hits but what are the odds.