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Debbie,
It depends on the seller. We presented a ultra low ball offer to our seller from an agent who represented clients famous for that. Our seller rolled the offer in a ball and made a basket with it. He was so mad, that he made sure all his circles knew not to give the time of day to this agent, who eventually left town and became a barista in San Francisco. We did sell it to someone who made a decent offer.
If the gap is wide, I would encourage the buyer's agent to make a better offer, and if not, NEXT! A
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Debbie Reynolds, C21 P...
Clarksville, TN
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Richard Robibero, e-Pr...
Toronto, ON
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Michael Jacobs
Pasadena, CA
279,878
4,319,873
Debbie Reynolds - Margaret Rome, Baltimore Maryland has written a beautiful post about this recently!
It's good to have an offer, even if it low.
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Ajay Pandya
Columbus, OH
3,988,013
It is not a mulitple offer situation. In fact it is an estate and the executor is incensed by the offer and refuses to acknowledge it.
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Amy Lopez
Clarksville, TN
273,787
I know this answer is a cop out but it depends. Is it the first day of the listing or six months in? Is the property over-priced? etc.
But generally I have a conversation with the agent. Sometimes they will let it slip that they are willing to come up considerably. If the agent is playing absolute hardball then no.
But I try to get signbacks all the time to get the ball rolling.
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Debbie Reynolds, C21 P...
Clarksville, TN
280,599
A lot depends on the offer: how it's written, does it have a pre-approval, has the other agent actually closed anything this year......but if it just looks like a pitiful attempt, no let it go and don't repeat the f bomb that the seller drops.
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Debbie Reynolds, C21 P...
Clarksville, TN
3,416,038
I ALWAYS tell the seller to teh point of having to persuade some to counter every offer no matter ho wlow
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Debbie Reynolds, C21 P...
Clarksville, TN
4,584,596
Hi Debbie --- as Alexandra Ron & Alexandra Seigel answered it does depend on the seller as well as the quality of the offer presented(notwithstanding the price issue). I'm assuming from the question, that this is the only offer as when there are multiple offers, some will naturally be put aside.
I try to set the stage early on(during the listing signing) with sellers that an offer is just an invitation and by your response, you're merely answering which in some cases can be no answer at all.
I've had some offers that where it seem there was no hope eventually work out. Rare but it does happen.
Good luck.
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Debbie Reynolds, C21 P...
Clarksville, TN
914,208
I tell buyers agent exactly what sellers instruct me to tell them. And sometimes that isn't " submit a stronger offer". many times it's " Reject it, and tell them to quit wasting my time". There have even been cases when sellers told me to tell them not to bother submitting any more offers.
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Debbie Reynolds, C21 P...
Clarksville, TN
6,426,155
If the seller is willing, we counter, if not then I will tell the other agent to consider submitting a serious offer if they really want to buy.
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I will try to find out from the buyer's agent if there's room for negotiations.
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Isn't it nice when you know the other agent and can have a conversation. I have had offer 10-20% under marekt that the buyer actually came up to market price. So a counter keeps it alive.
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Debbie, we always encourage the seller to counter no matter how low or terrible the offer is. There is an occasional buyer who just wants to test the seller and we have seen a deal come together because the seller did counter. If the buyer does not come up to a reasonable number it still is a good exercise as it is good practice for a seller to experience the process and cement their "bottom line" number by going through the process.
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I always encourage my client seller to respond with a counter offer. You can't dance if no one will come to the floor :)
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How do you get a seller that is stubborn and doesn't want to respond to at least counter? I have even prepared the counter at full price and not been able to get him to sign it. Ideas?
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We make an effort to persuade the ultra-lowball offeror to come in at a more reasonable number. And we also instruct the seller to not shoot the messenger.
1,683,912
I encourage a counter offer, even if it is back to full price. It shows the low baller that the seller is not playing games.
2,443,250
Counter the offer. Once I had a Seller counter an offer as much over list price as they lowballed.
2,224,473
In Colorado we have to submit all offers. It's up to the seller on how it gets handled.
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I can see it depends if the home is in the market range or not. Mine are but I have seen many that are out of sight.
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I always try to negotiate via the phone first. If they are open to counter and there are chances we can meet somewhere good for both of us, I'll send the counter. During multiple offers, we counter only few higher and best offers.
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It really depends on whether the list price is a solid market price or whether my seller has extremely overpriced their home.
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I had two of these last week and both came from the same buyers agent. In the first case, the sellers countered at full price and that was the end of it. In the second case, the low offer sold another offer that was received the same day and seller didnt bother to counter which caught buyer's agent off guard.
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It's always a good business practice to answer an offer--whether we counter it or decline the offer. Some listing agents just ignore offers they considered low without doing any homework on the reasoning behind the offer. Our job is to represent and negotiate for our clients.
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I encourage them to counter since I too work with buyers who sometimes take a shot at a low ball offer just to see what the seller is willing to accept.
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I tell my sellers that we have a live person. counter back and see what happens. they may be pleasently surprised.
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I do whatever my sellers tell me to do, but I also give my opinion and then let them decide
443,220
I've done both, so it really is up to the seller. When an offer is off-their-rocker locker, I am less inclined to recommend a counter. When it's in the 5-8% range of list price, I think a counter makes more sense.
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