Special offer
Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales)

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Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I turned down a buyer last month who wanted me to write 100k under list price on one of my listings.  I called the seller and ran it by them.  I then called the buyer and told them that I spoke to the seller and they said "not a chance."

Oct 14, 2015 06:37 AM
Rainmaker
1,771,867
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I will let them know I am not in agreement with them but yes, I have had people get rejected without a counter and then they believed me.

Oct 14, 2015 10:09 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I am required by state law to do that.

Oct 14, 2015 09:33 AM
Ambassador
6,393,404
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

You never really know what is too low until the offer has been rejected.

Oct 14, 2015 08:48 AM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I will usually have a minimum acceptable price built into the listing contract to alleviate the use of this gesture.  

Oct 14, 2015 08:36 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Yes, even when I know it will be rejected.

Oct 14, 2015 07:30 AM
Rainmaker
474,492
Bill Dandridge
MKB, Realtors - Roanoke, VA
GREEN, ABR, GRI, EcoBroker

Yes, sir. If I now it is a low-ball offer, I occasionally ask the listing agent to at least give us a response or a counter. Often in those cases, it is either outright rejected or not even responded to.

Oct 14, 2015 07:16 AM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes, it is my duty.

Oct 14, 2015 06:56 AM
Rainmaker
3,626,530
James Dray
Fathom Realty - Bentonville, AR

According to the laws in my State we must present all offers regardless of out outrageous they are

Oct 14, 2015 06:54 AM
Rainmaker
1,683,912
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

We have no choice here. According to Real Estate Law, we must present all offers.

Oct 14, 2015 06:50 AM
Rainmaker
443,220
Cindy Davis
SD Home Source Realty - San Diego, CA

Oh, that's a tough one. It depends upon my relationship with the buyer. If I want to retain the person as a client, I will write it and let the person learn his or her lesson If it's someone I really don't want to work with, I probably would not.

Oct 14, 2015 06:45 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Only to prove the point...After that, listen to your agent!

Oct 14, 2015 06:36 AM
Rainmaker
655,940
Jeffrey Jones
AZ Home Seekers - San Tan Valley, AZ
AZ Home Seekers, azhomeseekers.com

I try to explain that some times what they think is a starting point to negotiations will be an ending point if its too low and offensive. We do have investors that will only buy if the numbers make sense and its unemotional, those can be low offers as well. I will present what I am instructed, I just try to guide them.

Oct 14, 2015 06:15 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Gabe Sanders Interesting you say write an offer for your customer and not your client. If the purchaser is a customer, you represent the seller. Are you looking out for the seller's best interest by writing this offer?

Oct 14, 2015 05:30 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Absolutely.

And the listing agent will be receptive and keep the seller talking.

However, if the offer is -30% I will inquire how the buyer derived at this number and if they are drawing a line in the sand.

This is a business, not a hobby.

PS: Let me add, back in the day, when every investor was wall papering offers, and one in 30 succeeded, I would turn this hobby into a business by saying " I write as many offer as you want for any amount you want, but it will cost $76 per written offer.

Today, when such an offer succeeds once in every 177 offers, that will prove a controlling mechanism for such fishermen and less punitive to me.

Oct 14, 2015 05:29 AM
Rainmaker
699,277
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Yes.  We do as we are told.  We never ever know the circumstance on the other end.

Oct 14, 2015 05:06 AM
Rainer
42,670
Fred Hafdelin
Weichert Realtors - Mountain Lakes, NJ

Its a starting point. Maybe having an offer rejected will make your Buyer more realistic on the next offer.

Oct 20, 2015 06:42 AM
Rainer
168,750
Becky Kolb
The Kolb Team - Sun Lakes AZ Specialists - Sun Lakes, AZ
Keller Williams Integrity First Realty

If it is ridiculously low I tell them I will get a verbal. If the sellers agent says they will reject or not counter I tell the buyer. I back it up with comps and sales to list price ratio for the neighborhood and show them competing properties if necessary. If they are an unrealistic buyer looking for a deal that is not there they can either sign a buyer broker agreement or find another agent. If it isn't ridiculously low I will write it and get something going.

Oct 18, 2015 01:24 AM
Rainer
112,947
Vera Gonzalez
RE/MAX Suburban, Inc. - Sterling Heights, MI
Gonzo For Real Estate

yes I do. Sometimes people just want to see how low seller will go. It is human nature. 

Oct 14, 2015 11:33 PM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

Yes I would write it but would also give my opinion as to why it will be: not answeres, rejected or countered.

Oct 14, 2015 11:13 PM
Rainmaker
32,051
Amelia Robinette
NoVa House and Home - Frankly Realty - Falls Church, VA
Education, Innovation, Service

Absolutely! I've been surprised at what's been accepted several times.

Oct 14, 2015 10:21 PM
Rainer
231,224
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

i would as long as there is an exit strategy, that being what do we do when the door gets slammed in your face...counter? move on?

Oct 14, 2015 02:22 PM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Gabe,

 

I do everything in my power to properly educate buyers so they don’t do that. But if they insist I will present it. I’ve never had such an offer accepted yet but maybe one day

Oct 14, 2015 01:32 PM
Rainmaker
519,324
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Gabe, If it provides a benefit to my client, I will.  One offer allows me to tell other agents that an offer is in play. I'm not requied to provide details, but it will often spur others into action.  

Sometimes it creates a conversation that once the offer is rejected, the customer gets serious and is willing to write a better offer.  

Regarding the law. I'm required to present all written offers, but I don't believe I'm required to write any offer.  If I suspect the offer isn't sincere or a fishing expedition, I may suggest they find another agent to write it. 

Oct 14, 2015 01:30 PM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Usually, yes.  Sometimes it takes being rejected for a buyer to come to his or her senses.  And I've written even more offers for people who started out writing a lowball with their old agent - of course it didn't work out.

Oct 14, 2015 12:50 PM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

I have submitted many offers that I knew would be unacceptable. That is part of the learning experience for some prospective home buyers.

Oct 14, 2015 12:02 PM
Rainmaker
1,249,513
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

I surely don't like to - but I feel I must.  But first, I would have discussed the comps so they know what I think.  One never knows where it will end up.

Oct 14, 2015 07:21 AM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

It depends on whether or not I feel like they will eventually buy a home with me.

Oct 14, 2015 05:52 AM