Lowball Offers on the Rise

[sd-maybe]

SDR, what is the process for the lowball, is it a matter of the buyer’s agent calling the seller’s agent to feel out the seller’s situation and see if they would be receptive to the lowball (I am talking 20%, not 50% lol)? Problem is I think alot of selling agents are doing their clients a disservice by giving them the false impression a recovery is right around the corner instead of being honest with them (and themselves), and that they should consider something far below their ask from a high quality buyer (cash/huge down)

[TheBreeze]

Looks like the lowballers are at work in the stock market as well.

[TheBreeze]

Looks like the lowballers are at work in the stock market as well.

[TheBreeze]

Looks like the lowballers are at work in the stock market as well.

[TheBreeze]

Looks like the lowballers are at work in the stock market as well.

[TheBreeze]

Looks like the lowballers are at work in the stock market as well.

[SD Realtor]

sd-maybe the process is pretty open ended. People that do it alot usually get the procedure down pretty well after a few times. Initially a person new to the process will have me submit several lowballs, maybe after the 5th or 6th time they get a little tired of signing the documentation and I recommend to them that perhaps we give the listing agent a call prior to writing it up just to feel out them out. Alot of times the seller has less or little say in the matter and it is all up to the bank.

Unfortunately you may be correct about the listing agent giving a false impression to the seller but you as a buyer and me as an agent representing a buyer really has no recourse. There is nothing that can be done except to kindly say, “Okay thanks for giving me the information and I will call ya back in a few months to see if your seller has changed his mind.”

You cannot get emotional about any transaction.

SD Realtor

[SD Realtor]

sd-maybe the process is pretty open ended. People that do it alot usually get the procedure down pretty well after a few times. Initially a person new to the process will have me submit several lowballs, maybe after the 5th or 6th time they get a little tired of signing the documentation and I recommend to them that perhaps we give the listing agent a call prior to writing it up just to feel out them out. Alot of times the seller has less or little say in the matter and it is all up to the bank.

Unfortunately you may be correct about the listing agent giving a false impression to the seller but you as a buyer and me as an agent representing a buyer really has no recourse. There is nothing that can be done except to kindly say, “Okay thanks for giving me the information and I will call ya back in a few months to see if your seller has changed his mind.”

You cannot get emotional about any transaction.

SD Realtor

[SD Realtor]

sd-maybe the process is pretty open ended. People that do it alot usually get the procedure down pretty well after a few times. Initially a person new to the process will have me submit several lowballs, maybe after the 5th or 6th time they get a little tired of signing the documentation and I recommend to them that perhaps we give the listing agent a call prior to writing it up just to feel out them out. Alot of times the seller has less or little say in the matter and it is all up to the bank.

Unfortunately you may be correct about the listing agent giving a false impression to the seller but you as a buyer and me as an agent representing a buyer really has no recourse. There is nothing that can be done except to kindly say, “Okay thanks for giving me the information and I will call ya back in a few months to see if your seller has changed his mind.”

You cannot get emotional about any transaction.

SD Realtor

[SD Realtor]

sd-maybe the process is pretty open ended. People that do it alot usually get the procedure down pretty well after a few times. Initially a person new to the process will have me submit several lowballs, maybe after the 5th or 6th time they get a little tired of signing the documentation and I recommend to them that perhaps we give the listing agent a call prior to writing it up just to feel out them out. Alot of times the seller has less or little say in the matter and it is all up to the bank.

Unfortunately you may be correct about the listing agent giving a false impression to the seller but you as a buyer and me as an agent representing a buyer really has no recourse. There is nothing that can be done except to kindly say, “Okay thanks for giving me the information and I will call ya back in a few months to see if your seller has changed his mind.”

You cannot get emotional about any transaction.

SD Realtor

[SD Realtor]

sd-maybe the process is pretty open ended. People that do it alot usually get the procedure down pretty well after a few times. Initially a person new to the process will have me submit several lowballs, maybe after the 5th or 6th time they get a little tired of signing the documentation and I recommend to them that perhaps we give the listing agent a call prior to writing it up just to feel out them out. Alot of times the seller has less or little say in the matter and it is all up to the bank.

Unfortunately you may be correct about the listing agent giving a false impression to the seller but you as a buyer and me as an agent representing a buyer really has no recourse. There is nothing that can be done except to kindly say, “Okay thanks for giving me the information and I will call ya back in a few months to see if your seller has changed his mind.”

You cannot get emotional about any transaction.

SD Realtor

[Author]

Posts