Special offer

Don't Let Pride Kill the Deal

By
Real Estate Agent with eXp Realty

Don't Let Pride Kill the Deal

It's hard not to get offended when someone makes an offer that's so off of the beaten path, that one can't help but  be offended.  Negotiating
   

Who can blame you for being offended, but here's the deal:  take offense, calm down, regroup, think rationally and then counter.

There now, isn't that better.  Getting a low ball offer is always a 1000 times better than getting no offer at all.  There are few things worse than (or maybe even on par with) a low ball offer and they are:

  • Letting pride get in the way of accepting an offer
  • Not coming to grips with the reality that your home my not be worth as much as you had hoped
  • Not countering an offer at all
If there is one solid piece of advice that I have for sellers, it's don't let pride stand in the way of selling your home.  In preparation for receiving that first offer, I would caution sellers to remember the ultimate objective and long term goals.  This particularly holds true if a home has been on the market a while and has not yielded any offers and then along comes the lone offer.
 
If your home has been on the market for months, first consider that the pricing is all wrong.  Secondly, no matter what the terms of the offer, be prepared to counter offer as this may be the only offer that you get, consider the slow to no showings track record.
 
Every communication with a buyer is an opportunity for a sale.  So don't let pride get in the way of your ultimate goal.
 
Negotiate. Negotiate. Negotiate.
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good advice for sellers to consider all offers.

Jul 17, 2012 10:39 PM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents
Pride kills ALOT of THINGS. It's so hard, especially in a home that most sellers/ owners understand its value, while a home buyer probably only step foot in it for 30 minutes... Great thought. Suggested.
Jul 17, 2012 10:40 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Charita- well said.  You have to start somewhere and you'll never know what the buyer would really pay unless you counter. 

Jul 17, 2012 10:44 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Pride is a wrecking ball in everything... any relationship. Stay tough skinned, tender hearted, humble and a little red hen hard working to have more listings, more real estate sales.

Jul 17, 2012 10:56 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Emotions run high with both buyers and sellers and when a seller get's hit with an insulting low ball offer often times it's hard to convince them to stay the course and counter.  Suggested.

Jul 18, 2012 12:29 AM
Cheryl Thomson REALTOR Ret Army
United Real Estate DC Metro Region (703.216.5635) cheryltee47@gmail.com - Prince William, VA
Associate Broker in Northern Virginia

Hi Charita.  It is one of our jobs to remain nuetral from the beginning to the end of the transaction.  its not about us, I do agree we are human and have feelings too, however, we have to keep it in check.

Jul 18, 2012 01:05 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Charita - One of the key ingredients a good agent will bring to a transaction is perspective. Helping our clients see through the negotiating tactics of the other party and keeping their goals in focus is what we have to do.

Jul 18, 2012 02:10 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Charita, You know our philosophy.  Counter.  Counter. Counter again.  Keep going until the buyer quits or you get a deal together.  I don't care how "ridiculous" the starting offer is, give it a go.

Jul 18, 2012 02:26 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is great advice, Charita.  When we represent buyers we tend to try and talk them out of a lowball offer, but if we can't we can only hope that the seller will see through it and counter.  I always ask the lisiting agent to please counter.  Somewhere there will be a meeting of the minds.

Jul 18, 2012 06:12 AM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa
An offer is a starting point. We have to remind our clients that pride can get in the way of what makes the most sense. The buyer is testing the water to check motivational temperature. If you reject, that tells them what they need to know the same as if you counter. You have a better chance of coming to an agreement of sale if you counter, wouldn't you agree? That is what I always say. :)
Jul 18, 2012 12:12 PM
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

Charita...important advice that sellers should follow.  It's hard to get the emotions out of it but it is necessary.

Jul 18, 2012 12:52 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Thanks Gita.

Absolutely right Loreena. Pride can kill any type of relationship. A change in attitude is sometimes in order. Thanks for the "S."

Kathryn buyers are notorious for "testing the water."

"Wrecking ball."  I like that Andrew.

John sellers will be well advised to breathe deeply, regroup and comeback with a plan.  Thanks for the "S."

Cheryl I pity the buyer or seller that works with a hot headed agent.

Dick that's the goal.  Sometimes it's easier accomplished than others.

I know that philosophy well BLiz.  One of my favorite sayings to clients is "we don't ever want to be the reason that a transaction stalls." 

Jane we can only hope, that somewere along the line, there will be a meeting of the minds and progress toward a contract and close.

Karen I would agree.  EVERY offer without exception, should be met with the attitude that an eventual agreement can be reached.

You're tellng me Christine. I don't know if emotions can ever be totally removed from the process.

Jul 19, 2012 02:00 AM
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

Indeed Charita! So much of our job is helping everyone involved control their emotions...we are psychologists, marriage counselors sometimes just crowd control :-)fairfax county real estate agents Jan and Steve Bachman

Jul 19, 2012 04:51 AM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

Very good advise Charita! Keep your cool and think about your next strategic move.

Jul 20, 2012 02:06 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Charita I am so with you on this. I always tell my clients that if a buyer is willing to write 30 pages of Offer & Disclosures and write a 3% check to START the negotiations we OWE them the respect of a ONE page Counter Offer. Hence the short of it "that is why God created a one page Counter Offer":)) The sale begins when there is an offer until then it is just marketing!

Jul 21, 2012 05:24 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I just had a really really bad offer on a listing and I tried to convince the sellers (as I always do) to counter but they flat out rejected it.  It was pretty bad so I don't blame them.

Jul 23, 2012 10:20 AM