Special offer
Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have a policy for myself.  After the 3rd low ball I charge $500 for each new offer.   AND they have to sign a representation contract which I WILL enforce.   I have two investors that have bought into this with me.

Mar 30, 2015 06:50 AM
Rainmaker
443,220
Cindy Davis
SD Home Source Realty - San Diego, CA

It depends upon whether the buyers 'get it' or not or if they keep writing unrealistic offers. 

Mar 30, 2015 12:32 AM
Rainmaker
1,139,819
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

If they keep doing low ball offers I cut them loose.  They have to be realistic or they are not a real buyer.

Mar 30, 2015 11:02 AM
Rainer
306,514
Brad Rachielles
CENTURY 21 Peak, Ca BRE# 01489453 - Upland, CA
REALTOR, CDPE, Upland, CA

Praful,

I coach my clients so that they know what the market value of a property should be. If they want to go for a competitive price.... we'll talk. There has to be solid logic BEYOND the concept that they saw that tactic on TV. If they insist on doing a frivolous offer, I'm sure that they will find another REALTOR(R) to handle it.  Frivolous offers = 0 : Unsuccessful very competitively low offers against my better recommendation= 1 : After that, if they are not taking my advice, either they are just gaming or I have not successfully trained them on how the market works. Time for real soul searching.

Mar 30, 2015 08:22 AM
Rainer
45,957
Andy Madrid
Hawaii Coast Realty, LLC - Kailua-Kona, HI
Expertise, Professionalism, and Service

I wrote offers for a particular buyer for 3 different properties and every time the buyer would offer significantly less than what the fair market value was and one time it was so low I was embarrassed to present it and the buyer asked that I specifically present it to the owner directly.  That was a bad way to start off.  Needless to say the seller rejected the offer without a counter.

Now i dont work to try to get this buyer to pull the trigger.  If he comes around, fine, but I am not wasting my time.

Mar 30, 2015 08:21 AM
Rainer
509,531
S. Leanne Paynter ☼ Broward County, FL
United Realty Group, Inc. - Davie, FL
Davie, Plantation, Cooper City & Weston Specialist

Generally speaking, I'd say probably a max of 3 times.  If I saw an improvement with each offer (in other words, if they were closer to the list price or a reasonable price that could be expected for the property), I might allow a 4th time -- especially if I haven't invested too much time working with them.  However, if I saw no improvement from the 1st to the 2nd offer, and thought the buyer was a tire-kicker... and didn't counter-offer with a higher amount, I probably would allow two offers (different properties).  I don't think I've ever worked with a buyer that was that far off on more than the first offer.  If they're serious, they learn from their first unreasonable offer.

Mar 30, 2015 07:44 AM
Rainmaker
3,545,049
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I've never had to say enough is enough!  I guess I've been fortunate in that they eventually become more realistic.

I will say however, that a number of years ago, a "How to Steal a House" dog and pony show came to town.  Those of us who had to deal with the aftermath took patience in re-educating those who had attended.  I can remember driving away from one property, and hearing what the buyer wanted to offer (25% below list and market value).  I simply said, if stealing homes was all that easy, every real estate professional would be doing it for themselves, and not bothering to show properties to you!

Mar 30, 2015 07:43 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

I've never had this happen. If a buyer was low-balling repeatedly and losing I'd let him get experience by making 2 or 3 offers and failing. Then I would say it is a waste of time!

Mar 30, 2015 05:03 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

this has never happened to me, but if it did, after the second time, I'm done with that buyer...

Mar 30, 2015 04:06 AM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It would depend how far off base they are but generally I don't have a cutoff point. Technology allows us to spit out offers digitally in minutes so there's not even a cost of paper involved. How fast you can type a Seller's name and a new address are the only factors involved. I find that every time they lose out the gap begins to narrow with each offering.

Mar 30, 2015 03:07 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I inquire regarding their justification for their offer.

If it based on what they can afford (willing to spend), we change parameters and shop the segment they can afford.

If they are looking for the 87 to 1 chance of 'the' deal, I change the parameter of how we will continue working together.

If there exists no rationale that allows me to select the right real estate, I refer them to a newbie.

Usually, when pressed the 3rd time to reveal how they derived at their offer, the future patway is known.

Mar 30, 2015 01:25 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Each case is different. No general rule works.

Mar 30, 2015 01:24 AM
Rainmaker
1,661,936
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Three was the most and we made it work.

Mar 30, 2015 12:25 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have found that after a couple, they usually learn.

Jul 26, 2018 06:24 AM
Rainmaker
630,251
Ajay Pandya
e-Merge Real Estate Unlimited - Columbus, OH
Realtor Ajay Pandya

Just one is enough, Praful.

I do not like to work with unrealistic buyers in this hot market.

Mar 23, 2018 11:31 AM