Home Selling in Philadelphia>Question Details

Flukequeen, Home Buyer in Hopkinton, MA

Interested buyer wants my bottom line price before puttinig in a bid.

Asked by Flukequeen, Hopkinton, MA Sat Mar 9, 2013

Do I give my"best" number to a potential buyer (per our selling agents request) or tell my selling agent for the interested buyer to just put an offer in?

Help the community by answering this question:


Ask your agent. He or she is the person you chose to represent your interests. Your agent should be in communication enough to know what the buyer is after. Your agent should be willing to communicate and negotiate in a way to get you the best price the buyer will pay.
0 votes Thank Flag Link Fri Aug 5, 2016
Have your agent negotiate the best price and terms.If you do not have an agent it might be good time to find one
0 votes Thank Flag Link Thu Mar 14, 2013
I've seen this question pop back up as others have answered it, and I have a couple more thoughts and questions for you. Are you overpriced, not by what you want to get or hope to get but in relation to what the most current market data indicates? Have you been sitting on the market for a long time with few showings and no other offers until now?
If this is the case, your agent and the buyer may be doing you a favor, sort of. There are agents who won't write an offer that may be considered a "low ball.” I don't know why, perhaps they take it personal when offers are rejected or if sellers choose to be offended, but they shouldn't. If you are overpriced compared to your active competition and most recently sold homes, this buyer's agent may want to find out if your "bottom line" is realistic or not and they may be afraid of offending you.
If I were your agent, I would try and handle this differently than perhaps your agent may have done. First, overpricing is a terrible strategy, you get fewer offers and end up selling for much less and it takes longer.
Next, I would suggest you and your agent come up with a realistic price and tell the buyers agent this, "On Friday we are going to drop our price to $XXX,XXX but we wanted you to know first. It may not be our bottom price, but we believe it will create a lot more interest. We'd love to do a deal with you so if this makes sense, tell your buyer to make their best offer before someone else does".
This will accomplish two things, you will be priced right for the market and have a better chance of getting other activity if this one does go away and it gives this buyer something to work with.
Price for what is REAL, not what you hope to get. No one has ever asked me what the seller hopes to get, they ask how low they can get it for.
0 votes Thank Flag Link Thu Mar 14, 2013
Ok your home is listed and on the market for a certain asking price, and everyone understands that this asking price is somewhat negotiable, depending on many other details of the terms, therefore as a Listing agent I always recommend to my sellers, NO
If the buyer is interested in your property, and we have done a good market evaluation for the market value of the home, then the agent for the buyer, can do exactly the same, put that information in front of
the buyer, can even show the buyers other similar homes and then discuss what they want to offer and
how far they would go to get a signed contract, or where they feel that they would be paying too much for the home.
The buyers side should present to you a fully written offer, with all other terms spelled out, if you give
a bottom line to the buyers, and after that you see the other terms you may really regret what you did.
It is just not a good or a right way to go about it, how much is the buyer going to put down, is he pre-approved by a lender and has it in writing, when does he want to close and move in, does he have
property to sell himself....

Get all the terms and details and then negotiate with the buyer all the terms, all of them including
of course the price!
hope this helps

Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

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0 votes Thank Flag Link Thu Mar 14, 2013
Basically, you have a "buyer" who likes to play games. More often than not, you will have many sleepless nights as a result of many nightmares if you end up moving forward with this buyer. I've seen this type a number of times in the last 20 years. As a number have said before me, your price is your asking price. If they would like to make a counter offer to your price, fine. Once they come up with an offer, if they do, it will probably be very low. Be prepared to tell them they have to raise their offer before you will counter. The market has picked up and you don't want to be pulling your hair out (a problem I wouldn't have) dealing with this "buyer" when a real buyer right around the corner might be a pleasant person to deal with.

Good luck!

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
0 votes Thank Flag Link Tue Mar 12, 2013
get it in Writing.... RE/MAX doing this too long.

All the best John + Sheri 215-757-2889
0 votes Thank Flag Link Mon Mar 11, 2013
You need to depend on your agent to get u the best price and terms for the property .If you are asking all of us for our opinion you might as well be a fsbo
0 votes Thank Flag Link Sun Mar 10, 2013
Are you really interested in dealing with this kind of Buyer?
You can the RED FLAG from here!
0 votes Thank Flag Link Sun Mar 10, 2013
In my corner of the world, Seller's agents ask for a complete written offer from an interested Buyer and the negotiation begins from there. It is up to the Buyer to start the process, and to give his/her best
offer to you. I would never advise a Seller to to give "my best number" to a Buyer. Sounds like your agent is more interested in getting his commission than getting you the best price for your property.
0 votes Thank Flag Link Sun Mar 10, 2013
NO. Your list price is what you want. It's up to the buyer to offer what they feel it's worth to them. I would never advise my sellers to make the first move, the list price and then under cut that with a lower offer to buyer A. You don't know what other terms and conditions their offer will have. Are they even pre-approved? If they want to pay cash, do you have proof of funds?
If you are overpriced, lower your price to everyone. This may shake loose another more serious interested party. I wouldn't take this buyer too seriously. They want to rewrite the rules to favor themselves.
0 votes Thank Flag Link Sat Mar 9, 2013

You should price your home right from the start.

If the buyer is serious he/he/they will write a reasonable offer.

Your list price should be in accord with the comps for your area. You do not have to tell the buyer anything to urge them to write an offer.

Best of luck to you!!!
Kawain Payne, Realtor
0 votes Thank Flag Link Sat Mar 9, 2013
You don't have a "selling agent," the buyer does!

Flukequeen, do you have an agent?
0 votes Thank Flag Link Sat Mar 9, 2013
I am going to flip what my colleague Scott says below. The Seller DOES make the initial offer. It's called the asking price. Tell him the asking price is your offer. If you believe your house is priced correctly/fairly, then tell them they should submit an offer.
0 votes Thank Flag Link Sat Mar 9, 2013
Request the buyer submit their bid for consideration. Although price is important, the offer in its entirety needs to be reviewed as a whole - dates and timelines, contingencies, qualifications, etc. Good luck!
0 votes Thank Flag Link Sat Mar 9, 2013
The buyer makes an offer, not the seller, giving away your best price as a seller is not in the sellers best interest. the buyer makes an offer in writing and you as teh seller can accept or counter it. Verbal ,means nothing so never show your hand unless the buyer is serious enough to make an offer correctly. Your agent should know better.
0 votes Thank Flag Link Sat Mar 9, 2013
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