The Trouble with Trying too Hard to get a "good deal" for your Buyer

By
Real Estate Broker/Owner with Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

In a strong Seller's market, Buyers know to get an offer accepted, a lowball offer just won't cut it!     BUT, what about those first time buyers with out of state parents that keep reminding them prices are negotiable.    Are these Buyers listening to sage advice from their agent?

 

What about the agent that is new, and it trying so hard to get "that deal" for their Buyer, and never is able to secure a property for them?     The new agent looking for their first sale, and not really sure how to accomplish that?   When they are not sure what value is placed on what the property has to offer?    No two properties will be exact, and there does need to be some adjustments for views, new appliances, new carpet, etc. 

 

I feel for these Buyers, but the very reason they need to interview the agent before hiring them to represent their needs.    

 

It may be December, and a bit slower, but it IS still a Seller's market and if a property is priced correctly, shows well, there is no reason to accept lowball offers unless the Seller is willing to do so!   

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

Homes for Sale in Denver

Neighborhoods in Denver

 
  A Denver Metropolitan Realtor

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Rainmaker
1,287,368
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I will often ask a buyer on a scale of 1-10 how much do you want the house. They often say 10. I then ask them how they would feel if they lost out by say $1000? I want clarity on how much they want it...and I want them to have that clarity.

Dec 16, 2017 09:21 AM #15
Rainmaker
449,352
Pat Starnes, Brandon, MS
Front Gate Real Estate - Brandon, MS
Broker Associate, ABR, 601-278-4513

Buyers agents as well as buyers need to recognize fair market value. You don't want to lose out on the house you want, especially in a sellers market, due to a lowball offer. Please listen to your Realtors' expert advice when structuring your offer to purchase. It isn't a "deal" if you miss out!

Dec 16, 2017 10:58 AM #16
Ambassador
3,551,699
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Buyers deserve the gtruth, even if they want to hear it, and an agent who is not being honest with them about what they need to do in order to be successful in this seller's market is not doing their job. And listening to well-meaning friends, neighbors and family members is not the way to go - they don't know the specifics of the market conditions that impact sales right now.

Jeff

Dec 16, 2017 12:04 PM #17
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kathryn, if buyers are looking for that deal in Denver, they will miss out! 

Dec 16, 2017 03:12 PM #18
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents the new agent I was referring to, did not even ASK for help, they just thought they knew everything.   I did feel very bad for that buyer.

Dec 16, 2017 03:13 PM #19
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you Li! 

Dec 16, 2017 03:14 PM #20
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gita, we don't usually see many lowball offers, as our market is usually too HOT! 

Dec 16, 2017 03:21 PM #21
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Francine, had another buyer's agent call to say her buyer would be sending an offer, only to have the parents' two cents telling the first time buyer to wait.

Dec 16, 2017 03:23 PM #22
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, I so agree, and think sometimes these first time buyers don't know what to ask! 

Dec 16, 2017 03:24 PM #23
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thanks Debbie Reynolds as she must have, it did go into her 2nd Chance post.  

Dec 16, 2017 03:25 PM #24
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gabe, I remember getting some good deals for buyers years ago, but then again, it was a serious buyer's market.

Dec 16, 2017 03:25 PM #25
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sally K. & David L. Hanson and if they live elsewhere, and see a different market, they are totally out of touch! 

Dec 16, 2017 03:26 PM #26
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Joyce, you are spot on! 

Dec 16, 2017 03:26 PM #27
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brian, sometimes I do feel bad, especially for the first timers and ones that get "saddled" with an agent not capable of giving sage advice.

Dec 16, 2017 03:28 PM #28
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina Hollander that is exactly what I say too.   Do you want a house, or keeping renting?

Dec 16, 2017 03:29 PM #29
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, or at least in a Seller's market! 

Dec 16, 2017 03:29 PM #30
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dorie, most of the time when I have parents accompany the buyer on showings, and start giving them incorrect advice, I tactly step in and correct it.  It USUALLY works.

Dec 16, 2017 03:30 PM #31
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, that is a good way to ask a buyer, and you can tell how to move forward with their answer.

Dec 16, 2017 03:30 PM #32
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Pat, I agree, and in a strong Seller's market there usually are no deals to be had! 

Dec 16, 2017 03:31 PM #33
Rainmaker
3,482,707
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, I think this buyer's agent was full of herself, trying to impress this buyer and didn't work! 

Dec 16, 2017 03:32 PM #34
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Rainmaker
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Denver Real Estate - Selling One Home at a Time
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