Today’s Real Estate Coaching Radio podcast answers this question from a show fan:
Should I ignore ‘lowball’ offers? (as the listing agent)
- You are required to present ALL offers.
- How you handle a lowball is different if it’s your ONLY offer, especially if the house has been on the market a while.
- Find out WHY it was low…is that all the buyer was qualified for? Are they culturally conditioned to negotiate more than you or your seller would like
- Counter every offer unless it was low because they buyer CAN’T afford more.
- Provide comparables embedded in your counter as ‘addendum A’.
- Ultimately if the deal doesn’t come together, it’s a great opportunity to get a price adjustment.