Low offers are almost inevitable. Buyers instinctively think it is the best way to get a discount. Often a seller’s first instinct when receiving a lowball offer is to tell the buyer “where to go.” The next thing most sellers and inexperienced agents want to do is to reject the offer.
Never, ever reject an offer from a buyer!
Take some time before you do anything to let the perceived insult fade. The offer should be handled professionally and responded to with caution, no matter how poorly written or ridiculously low.
The buyers and/or their agent could be naive, or just doing what they were told, with no ill will intended.
As a seller, you should look at it from the perspective that we now have a buyer who has seen your property, likes your property more than the rest, and they have worked up the courage to write an offer. Our job is to coax this buyer into feeling comfortable paying more than they originally intended.
One simple way is to make a verbal counteroffer back to the buyer at full list price, or maybe knock off some minimal amount. We then explain to them how much we’d like to sell the property to them, but we are just too far apart in price and they need to get closer in price before we can begin to talk seriously about it with them.
This lets the buyer save face and keeps them in the deal. If we reject their offer they have to either suck it up and come back begging for a second chance, or go away. Most people take the path of least resistance and just go away. Then we have no offer to negotiate and no buyer to sway.
Never chase a qualified buyer away!
Choosing an Agent
- Print Advertising - Your property will receive unprecedented continuous exposure every month it is listed for sale. Your ad will appear every month in the Homes and Land magazine, instead of the typical ad rotation.
- Virtual Floor Plan - Each residence is measured room by room for a concise virtual floor plan with lots of inter grated pictures of the property for a true Virtual Tour and not just a slide show of pictures.
- Maximum Internet Exposure - Your property will be exposed to millions of people on 30 national real estate websites and with 8 news organizations including ABC, FOX, New York Post, Washington Post, New York Times and Cox Media.
- Professional Photography - Don't let your house languish on the market because of poor quality pictures. Too many listing agents treat photos like it was still the last century. Pictures sell real estate!
- Enhanced Listings - We go the extra mile and pay to have your listing Enhanced on Realtor.com
- Property Website - your own website.
- Lock Boxes - Electronic lock boxes provide 21st century access.
- MLS - Your property information will be entered into the Multiple Listing Service, including color photographs of the interior and exterior of the house, if applicable.
- Open Houses - If the first Open House has a good turn out we will follow up with more.
- Reverse Offer - Backwards real estate.
- As Is - Is this the best way to get what you want?
Not Ready Just Yet? Home Selling Articles