Home Buying in Estero>Question Details

Erica Michae…, Real Estate Pro in Estero, FL

What is the best way to handle the qualified and serious buyer that wants everything for nothing and does not want to compromise? ;)

Asked by Erica Michaels, Estero, FL Fri Sep 9, 2011

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Always a tough situation... have they made any offers yet? I don't mind a client willing to put an offer to paper because if they have any intelligence... they will realize the error in their strategy when none of their offers is accepted or even countered. Clients like this need to lose a house or two that they really like to adjust. If they don't adjust after losing out on a property that meets their criteria, cut your losses.. they MAY eventually get it, but it could be years and your time is best spent elsewhere.
1 vote Thank Flag Link Sat Sep 10, 2011
For as long as you can reasonably tolerate it, do your best. But, for instance, if the buyer is insistent on a 4 bedroom home in xyz community, and homes there are $20,000 above what he/she has asked to see--you provide all the information, in as helpful a way, as possible . . . while trying to educate the buyer that some compromise is necessary.

Your goal is to make the buyer a more educated consumer, so that he/she will recognize reality and adjust expectations to meet reality. If the buyer is unable or unwilling to do so, then have a talk with the buyer. Explain that you're unable to provide what he/she is looking for [actually, what he/she is looking for doesn't exist] and suggest that the buyer might be happier with a different agent.

Work out a referral agreement with someone else in your company, and suggest that--among the people the buyer might wish to interview--is the person with whom you have a referral arrangement. Suggest multiple people, though. And it's probably appropriate/ethical to disclose the referral arrangement. At least you might make something if the buyer ever buys. But you have to take into consideration your own time . . . which will continue to be wasted if the buyer won't recognize reality.

Discuss this with your broker, as well. He/she may have some other suggestions.

Hope that helps.
1 vote Thank Flag Link Fri Sep 9, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
When people fail to accept facts and are beyond reason, it's best to not invest too much time and effort.....NEXT!
1 vote Thank Flag Link Fri Sep 9, 2011
How can this buyer be considered "serious" if he won't agree to compromise? Negotiations are a two-way street.

Are you in a counter offer stage? if the seller has issued a counter offer but the buyer does not agree, then ask the buyer issue his own counter offer to keep the ball rolling. If the buyer doesn't do anything, then technically, the deal is dead. There is no obligation on either part.

And as Bill said, and there are more of us who will say the same thing... 'NEXT!"
0 votes Thank Flag Link Sat Sep 10, 2011
I don't know what the "best" way is, but one thing to do is to change the way we categorize that buyer. They may be qualified, but until they acknowledge the reality of the marketplace, they are not serious!

Almost always, these types of head-butting situations have to do with a difference in communication styles. So, perhaps you've been telling them, well, that doesn't make sense, the sellers aren't going to come down that much, et cetera. Maybe instead, just hand them listings of pending sales in their price range. "I just thought you'd like to know what's been selling recently!" Let them figure it out on their own!

Or, the other 'way round. Point being, sometimes we keep talking to them in the same way, waiting for different responses. If we change things around a little, maybe they'll respond differently!

All the best,
0 votes Thank Flag Link Sat Sep 10, 2011
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