Special offer

How To Drive A Home Seller Crazy During Negotiations....

By
Real Estate Agent with RE/MAX Compass 0524642

1. Submit your offer. If the seller counters wait a full day and a half to respond. You might take a risk of another buyer moving in for the kill, but not likely. Counter back at the same price you offered originally. You are under no unwritten rule or obligation to come up or "meet in the middle" as they say. Some sellers assume it's a matter of common practice to counter, counter and counter again.

2. Don't threaten to walk away from a deal, just do it. At least provide the illusion. What you don't say is way louder then what you do say. Agents run their mouth for a living on behalf of their clients. Not responding to the other agent for a little while will drive them crazy. That's okay. Let the seller stew/marinate and think until they bite all their fingernails off. The seller will call their agent asking... "what did you hear? What did they say?" They'll try to act like it doesn't bother them that the buyer and buyer's agent are being distant with correspondence. But it does. The more time that goes by, the more the seller will doubt their counteroffer.

3. Wait until the last minute possible to negotiate repairs and hold inspections. The longer the better. Each day that passes is a day the seller is rubbing their hands together as they fantasize about moving, buying and getting on with their life. When you come at them 9.5 days later during your 10 option period they'll feel pressured to negotiate more. You can also submit a cancellation of contract with your repair requests. Let the Listing Agent know that if the seller isn't willing to concede with the repair request to go ahead and sign the Termination of Contract & Release of Earnest Money. That sends a strong message. You can always chg your mind.

4. Remember that nobody usually kills a deal over 2 grand. So don't be the one to concede over it. Make the other party bend, drop to their knees and give you the two K you asked for. Odds are they'll be more willing to give it than not. no reason to be nice. You're not being rude by demanding $1,000.00 off the price.

5. Go after the appliances and other incidentals by offering to pay almost nothing for them, especially if the house is vacant. It's highly unlikely any seller will come pick up their 8 year old fridge if you don't pay them the $500 they asked. Do you really think they're going to hire a guy, get a truck and come get it? Offer them the lowest possible amount. Sure they could sell it on Craig's List. So go on Craig's List and offer them their price and tell them your coming to pick it up 10 days later. Never show up. You'll now get the fridge. Better yet, have a friend call them. JUST kidding. I just want to make sure you're reading.

6. You can negotiate a seller to death with repairs in many ways. The best way is to pick your own vendors and obtain 3 bids on every single solitary big ticket item. The threat of this should be overwhelming to a savvy Listing Agent. Roofers, HVAC technicians, plumbers and pool guys have one word in their head. REPLACE. They love to REPLACE things. It's smarter for a seller to come to an agreement and offer a dollar amount "in lieu of" versus rolling the dice with the a technician or a Roofer. Roofers are typically discussing "replacement" before they even get on the roof in most cases. Sometimes when you call them they tell you.. "it's just better to replace."

7. Show the property your buyer want's like 500 times. Let them know an offer is coming about 400 times. Drag that sucker out as long as possible. The seller will be anxious. They'll also start thinking about where they're moving. They might even start fighting about "how they're not gonna give their home away" with their agent. They will certainly do this. Sellers LOVE to call their agent and discuss "possible offers" when an agent drops that.... "OFFER COMING" on the showing feedback.

8. If the home is overpriced ask the Listing Agent to point to the comps they used to justify the price of the home.

9. Submit your offer one page at a time. Each page should be in a jpeg format. It will take the listing agent 22 hours to download the files. Or fax it to them from a gas station with pages missing.

 

Don't do number 9. that's totally annoying and will just bring you bad karma.

 

Posted by
Greg Nino
Realtor
RE/MAX Compass 
Direct & Text 7 days a wk: 832-298-8555 
 
 
Realtor since 2004
Mediator & Arbitrator for the TX Assoc. of Realtors
Member of the Professional Standards Committee for the TX Assoc. of Realtors
Arbitrator for the Comptroller's office for the State of TX for Arbitration of Property Tax Values

 Member of the RE/MAX Hall of Fame & Platinum Club

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

Comments(30)

Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

Too funny...I hope it's meant to be funny...I really, really hope :)!

Mar 23, 2012 06:30 AM
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey Greg,

This one was funny to me but some of the comments indicate serious 'players' of your tactics...

Best of success to you and your team this year!

Mar 23, 2012 05:26 PM
Jon Eliason
EXIT Realty Advantage Pagosa, Pagosa Springs, Colorado - Pagosa Springs, CO

Greg ~ I like the Jpeg idea.   :)

May 06, 2012 11:10 PM
Travis "the SOLD man" Parker; Broker/Owner
Travis Realty - Enterprise, AL
email: Travis@theSOLDman.me / cell: 334-494-7846

haaaaaaaaaaa - funny BUT useful .... at least parts of it....!!

May 07, 2012 12:41 AM
Justin Dibbs
Fairway Independent Mortgage - Ashburn, VA
Mortgage Advisor

God, I've been hit with #9 a bunch of times.  Talk about painful...

May 07, 2012 12:46 AM
Travis Turner
Turner Associates | Colorado Springs, Co | 719.244.3645 - Colorado Springs, CO

This is precisely why people hate realtors. Can I gently remind eveyone that we'll all get more referrals if we do clean, fast and stress free deals (as much as possible)? I am not saying give away the farm at the negotiating table - I am simply saying being courteous, professional and responsive is the way to keep your clients happy and get referrals. If you can prove to the seller up front that you are easy to work with and flexible, then they are MUCH more likely to accept a lower offer because the other agent will sing your praises. I hope I am not alone in this.

May 07, 2012 01:07 AM
Karen Crowson
Coldwell Banker Residential Brokerage - Rancho Bernardo, CA
Your Agent for Change

Hopefully both sides have their boxing gloves handy. I just hate it when people are in the mode of 'duking it out'.

May 07, 2012 01:13 AM
Michael Murphy
Bienvenidos Real Estate - Parksville, BC

All interesting tactics Greg and appropriate to use when required but I have to agree with Travis Turner above. KISS

May 07, 2012 01:18 AM
Michael J. O'Connor
Diamond Ridge Realty - Corona, CA
Eastvale - 951-847-4883

A spin on #9 is to fax with every other page upside down.  If the listing agent receives it as an electronic fax it'll take them a while to actually reposition all the pages to be readable.

May 07, 2012 01:56 AM
Raymond Denton
Homesmart / Evergreen Realty - Irvine, CA
Irvine Realtor®

I thought I was the only one that encounters #9 ... how do those people get by in life?

May 07, 2012 01:58 AM
Claire Newman
Windermere NW RE Mt Baker - Seattle, WA

Not kidding, I have received number 9 twice from one buyer's agent in the last week.  The camera phone pictures of the 35R has come out dark, askew and almost impossible to print legibly. Even if I'm not the one who chooses to skirt work this way, I still have to present the lousy looking form to my sellers who's suggestion after they signed it was just to take a sideways picture and send it back to the buyer's agent. I appreciate the humor of that, but just couldn't bring myself to sink to that level. Really? You don't even have time to scan it back to me?! 9 jpegs later and my eyes are tired and my computer is annoyed!

May 07, 2012 02:05 AM
E. W. Lester
Mort Genius Brands - Fayetteville, GA

I don't agree with Travis Turner #16 so much. There are big bucks involved here. I'm more likely to come back to the agent who sold me the home and tried VERY HARD to save me money. As the buyer, I don't want a timid agent so concerned with protocol. It's not about you it's about me. I would enjoy hearing Greg explain the what and why of his negotiating tactic and agg him on. Effectively negotiating is huge part of a buyer agent's value, to me. I could give a hoot about almost anything else. Like I said: There are BIG BUCKS involved here!

I don't hate Realtors. What's that about?

May 07, 2012 02:21 AM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

John

Making sellers angry is more like it.

However, we are now back to a seller's market, so I don't think buyers and their agents will employ these tactics for a while.

But this is a good read....thanks!

May 07, 2012 02:43 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

The jpeg used to be funny if you had dial up Greg.

May 07, 2012 05:58 AM
Susan McCall - - Compass Realty Solutions
Compass Realty Solutions - Portland, OR
Listing and Buyer's Agent

Loved it!!!  When I frist started reading the instructions I was thinking that maybe I had been doing something wrong all these years!!

Snap, who was the author of this post anyway!!!  You have the guts to let your sarcasam just drip all over the place.  You ust be from dry Texas to get away with this. In Oregon we are too busy being optimistic about waiting for the rain to go away for a while.

My favorite are docs that are scanned and unreadable, with lots of addendums and changes,  So you have to send the original signed documents with the scanned unreadable document that the other party has signed.  Sigh - - this isn't really my favorite :)

May 07, 2012 08:05 AM
Jamie King
Hoty Enterprises, Inc. - Huron, OH
Sandusky, OH

I DO like the way you think! Good ideas and some funny ones, too. Keep the good stuff coming!

May 07, 2012 10:39 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Are you running webinars? Seems to me there are a bunch of folks who have taken them and put them into practice.

May 08, 2012 01:02 AM
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Greg, great post and excellent tips.  Your #1 & 2 are what I call the "pregnant pause".  Say (or respond) nothing.  Most people can't stand it and will blurt out.

May 08, 2012 04:50 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

We cannot afford to drive Sellers crazy.  The 20 some offers they are getting on each listing is driving us crazy.

May 08, 2012 01:58 PM
Marnie Matarese
DWELL REAL ESTATE - Sarasota, FL
Showing you the best of Sarasota!

Ha Ha Ha.  I think someone has done each of these to me at some time or another.  The contract in jpeg is truly the most annoying.  Love your sense of humor.  You were kidding, right?

May 17, 2012 02:28 AM