Why Are We Talking About Low-Balls?
What Is A Low-Ball Offer?
Buyers, What Is Your Goal?
- Maybe you want a deal.
- Perhaps you’re worried about overpaying for a property.
- Maybe you want additional insurance you’ll recoup what you need if you want to get out in a couple of years.
- You want to pad your bottom line because you are planning on spending a great deal of money on renovations.
Whatever your reasons, it helps by understanding the market. It also helps for your agent to know your true objective.
Consider Your Competition!
The Furniture Add On
Using An Extremely Small Data Set For Comps
Sellers, What Are Your Goals?
- Maybe you’re shooting for a specific number.
- Perhaps you have a certain date you want to be sold.
- It could be you have some weird terms that make it harder to negotiate like post-closing occupancy.
- If it doesn’t sell this season then we’ll just sell next season (expecting to get the same or even a higher price)
- I’ll just rent it out and sell it in a year. (expecting to get the same or even a higher price)
- I’ll just fix (something that doesn’t appreciate the value of a home) and ask more next season.
Keep Your Perspective!
The Buyer Has A Solid Point
Is The Difference Really A Deal Killer?
Is The Buyer Done Picking On The Seller Once The Price Is Negotiated?
Agents, Get Your Act Together!
Buyers May Have Their Own Ideas Of What To Offer
Don’t be an order taker! Do the best you can for your client. I think there are 4 types of offers!
Get Bitch Slapped
Get An Invite
Get A Counter
You’re in the game, try to get it together.
Make It Stick
This is the sweet spot where the buyer comes in somewhere under full list and what the seller wants but higher than warranting an argument about it. I’ve done this a few times this year. The point is to be clear with the listing agent that there is no more money. If your other terms are favorable and your conversation is compelling, you’ll stick it.
Do You Know What The Seller Is Thinking?
- Where are you?
- What has happened so far?
- How are your sellers feeling?
- Have you seen any offers?
- How was it handled?
Your Negotiating Character
Who’s Ready To Do Some Business?
- If you’re looking for a listing agent who is going to be a true advocate to help you reach your goals,
- If you’re looking for a buyer’s agent who will do the best they can to help you get a great deal,
- If you’re looking for a good agent to help you sell your listing or bring a buyer,