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SELLERS, DON'T BLOW OFF THAT LOW BALL OFFER. Instead...LET IT SIMMER BEFORE REACTING

Dear Seller:

We (Realtors) know how frustrating it is when you get a LOW BALL offer on your home. After all, it's a wonderful home. You've raised your kids here. You KNOW it's priced right. AND you can't afford to take less; you have your blood, sweat and tears in this place. SO, when you get one of those nasty, ridiculous offers, your first instinct is to be ^*#@%& off....justifiably so.

"Tell that Realtor to tell his client ...blah, blah, blah with his offer..." You may blurt out.

Instead, you need to take a deep breath. Take a walk. Take a chill-pill. More importantly, you need to let the offer simmer. Let the buyer wait until (almost) the expiration period he/she has given you, expires. Almost, but not until it actually runs out. This lets the buyer know you may not be as desperate as he may think you are. Because, desperation only reaps desperate responses.

The market stinks right now, for sellers. It REALLY is a buyer's market. But even the buyers aren't jumping allover all the great deals they have at their disposable. They're VERY cautious. So, before you blow off that low ball offer, give it some consideration! Work with your Realtor to come up with a "reasonable" counter."

There's an old saying in the Real Estate World; YOUR FIRST OFFER MAY BE YOUR BEST OFFER.

For your Lake Arrowhead Real Estate needs, CALL: KAT DELONG, REALTOR.

Posted Tuesday Sep 30
( 09/30/08 11:42AM ) — Frank & Jodi Orlando

Low ball offers are not going away, we have been around enough to not let it bother us. Now our clients? That's another story, Typically I will call them, let them blow up, then send them the papers to let them cool off.... Maybe Lol.

( 09/30/08 11:47AM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Frank & Jodi:  That's a great way to handle it...  Thanks for stopping by.


   


 

( 09/30/08 11:57AM ) — YVETTE SMITH REALTOR IN WILLIAMSBURG VA WILLIAMSBURG VIRGINIA HOMES FOR SALE

HI KAT!


So true...don't totally dismiss it!  Especially, if you've been on the market for months.  At least work with it.  This is a gem of a post!


( 09/30/08 12:01PM ) — Pat Champion

This is great information.  Especially in this market.  Usually if you wait long enough the seller will calm down and realize at least they have an offer something to work with.  Most of the time they can both come to an agreement.

( 09/30/08 12:05PM ) — Erik Hitzelberger, --Louisville-Bullitt County Real Estate

Dismissing an offer completely means you have zero-chance of selling the property to that particular buyer.  Making a counter-offer increases those odds dramatically.

( 09/30/08 12:13PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Yvette:Thank you so much! I appreciate you stopping by.


 


 

( 09/30/08 12:14PM ) — Rich Mielke, REALTOR, Frederick Maryland Real Estate

A low ball offer is better than no offers. At least this person wants to buy the property.

( 09/30/08 12:14PM ) — Rich Mielke, REALTOR, Frederick Maryland Real Estate

A low ball offer is better than no offers. At least this person wants to buy the property.

( 09/30/08 12:15PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Pat: I agree...waiting helps (calm the sellers). Most times, when we think there's not a chance in the world the offer will come together, it DOES.   Thanks for commenting.


  

( 09/30/08 12:16PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Erik: Great point!!!!


 

( 09/30/08 12:17PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Rich: SO TRUE....any offer is better than NO offer.  Thanks for stopping by.


 

( 09/30/08 12:21PM ) — Rich Mielke, REALTOR, Frederick Maryland Real Estate

I think Active Rain has the hiccups. I only submitted my above comment once.

( 09/30/08 12:34PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Rich: I think you're right...it's happened to several people today.


 

( 09/30/08 12:41PM ) — Li Read

Very good post -- essential, today, to "sleep on it", so that emotions don't block thought.    Good advice.

( 09/30/08 12:57PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Li:  Yes, so right... Gotta let the emotions "simmer down." Thanks for commenting.


 

( 09/30/08 01:36PM ) — Greg Steffens

Good advice....sellers need to realize that an offer is just an "opening shot" from potential buyers - it doesn't matter where the negotiation starts, but where it ends....

( 09/30/08 03:41PM ) — Kat DeLong, REALTOR LAKE ARROWHEAD, CA (909)-273-4542

Greg: Good points!  We Realtors have to try and calm the seller so we can actaully start the "real" negotiating... which isn't always easy. Thank so much for commenting!


 

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