How do I work with a buyer whom always bargins the listing price?

Asked by Jian Montalvo, San Marino, CA Fri Sep 4, 2009

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5
Krista Wach, Agent, Arcadia, CA
Sun Nov 8, 2009
I totally agree with Rebecca on this one... Do your best to educate your client but if they don't listen ,let them go, there's no use in wasting time.

On the bright side, I had clients just like that. Finally after losing out on a couple of homes they loved, they realized they had to submit strong offers to be considered. When a listing they wanted fell out of escrow they submitted an offer at asking price and closed escrow. Sometimes they need to get their feet wet before comitting to swim.
1 vote
Bill Eckler, Agent, Venice, FL
Fri Sep 4, 2009
Jian,

Since it's commonly known that we are in the midst of a "buyers market" why would you expect otherwise. Today's buyers are intelligent, informed, cautious, worried, and to the person seeking value..........

If you have a serious buyer that is "low balling" our recommendation is to make them aware of the current local RE market not only from the perspective of current homes and prices now on the market but those that have sold recently.

Set some paremeters.....if this is determined to be a lost cause you might consider cutting them loose and using your time more productively.



Good luck
1 vote
Debra (Debbi…, Agent, Livingston, NJ
Sun Sep 6, 2009
Maybe you haven't hit on the right house yet with this buyer.

I had one buyer who always lopped off at least 10% from the list price, no matter what, when he went to make an offer - even though I showed him those offers were unrealistic .Needless to ssay, he never got those homes......he rarely got a counter offer, either. Then a wonderful thing happened - he saw a home he really fell in love with. He offered within 3% of the list price, and bought it. At last!

Of course, miracles don't always happen, though!
I am nnot sure how long you have been working with him thus far, but why not set up a timeframe, and if you still find he isn't being reasonable with his offers, then cut him loose, and move on. He either isn't motivated to buy, or he has read too many "How to" articles advising buyers what to do.......incorrectly!

Good Luck
Debbie Rose
Prudential NJ Properties
0 votes
Bob Georgiou, Agent, Danville, CA
Fri Sep 4, 2009
There is a time and palce for everything, for wheeling and dealing its just a matter of finding that time.

If you buyer understand the concept of value ("It doesn't matter what you will pay for a home, its what will some OTHER qualified buyer pay for the home. Do you want it at that price?") then is is simply a matter of demostrating that value. If there is an identical comparable home in the same condition that just closed and your buyer wants to lowball it, don't do it. If the last 4 sales have been declining in value over the lst 12 months and there are no recent sales. Maybe the home has benn on the market for a long time and you feel its priced wrong, or the condition is sub par. Why not write the low offer? In other words its a matter of finding a place and time.

You also have to lay foundation. Call the listing agent up and ask what is going on with the sellers before you write an offer. Asking the buyer what his price is then discussing the price with the listing agent will save you a lot of time.

For some it's a cultural matter and I would recommend seeking out some sales books that deal with the topic. Once you have the skills set to handle cultural nuances, you will add a sale or two a year to your business.
Web Reference:  http://bob2sell.com
0 votes
Rebecca Cham…, , Palos Verdes Estates, CA
Fri Sep 4, 2009
Sometimes showing them all the listings they bid on next to the Selling price can help, or showing them trends in the market with graphs etc. The bottom line is they hired you for your expertise and if they do not respect it, time to let them go as a client.

Remember, money you can always replace. Time once spent is gone forever. Use it wisely.
0 votes
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