Before You "Just Throw It Out There"......Do You Think About The Sellers?

By
Real Estate Broker with HOM Sotheby's Intl Realty, 949-510-2395 DRE# 01494165

 

 

There have been a lot of talk about the "Low Ball" offer lately. Pros and cons to writing them and working them. I am in the camp that ANY offer is an offer worth working, if at all possible.

But what about the "Vulture Buyers"? I call them this because they are the buyers who make it clear from the very beginning that they are looking for a "good deal." They will buy only in a situation where they can buy a home significantly under market value. They want to win!

They could be investors, or just buyers looking outside their real price range, hoping for a desperate seller they can use to get a REAL deal. The question I have for these buyers is this:

"Do you ever even think about the sellers"?

We all know what a tough market this is for sellers. Even in our local communities where the activity has picked up, the values are not rising in a commensurate manner. Sellers are really taking a hit on home values. For those who bought during the latest boom, this is NOT a paper loss...it's a real one.

The Vulture Buyers will often visit a home several times. Their agents will call/email to let us know they are "very" interested and to please give them time to submit an offer. Even though most agents know better than to alert a seller that an offer is coming (it's never an offer until it's in writing), sellers can hear the agent's name.....or actually meet the buyers.... and know that it's a second or third showing.

They get excited!!

These are people who clearly need to sell. They are not normally "cashing in" and going off to great adventures. They normally can not afford to take a bigger hit than they are already taking.

Then it comes....the offer that is 40-60% under market value. How do you think they feel? If this is not a short sale, they are disappointed, depressed, sad. And if this is a buyer who "would" come up...but just wanted to "throw it out there to see," these are also the sellers who are not going to respond well. They feel they are working with the Vulture Buyers. Those who are only out for themselves and not seriously working with market values.

This is not a game to sellers! This is important!

So if you are playing a game....I would just ask you to think about the real people, real situations, real families, real dreams on the other end of that Low Ball Offer.

Posted by

 

 

 

KAREN FIDDLER
Dre no. 01494165
Broker/Associate
HÔM SOTHEBY'S INTERNATIONAL REALTY
M 949.510.2395
KarenpFiddler@gmail.com
 

 

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Topic:
Home Selling
Location:
California Orange County Mission Viejo
Groups:
Mission Viejo Real Estate
Bartender, Make it a Double
Club Chaos
BananaTude
Tags:
sellers and low ball offers
low ball offers
mission viejo buyers agent
orange county listing agent
mission viejo listing agent

Comments 45 New Comment

Rainmaker
870,319
Adrian Willanger
Profit from my two decades of experience
206 909-7536 TheHomeFunnel.com

Karen, I always tell my buyers when they want to present a low ball offer, that if the offer is offensive I won't write it, I haven't anyone walk away from a deal because I've said this to them. Good article!

April 10, 2012 11:51 AM
Rainmaker
1,203,902
Carla Muss-Jacobs, Principal Broker/Owner
Buyer Focused ~ Buyer Results
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% of the Time

#44 is a tad off topic, no?!?

Personally, I don't think buyers care to know the details from the sellers' perspective unless, and until, they are the sellers -- then all of a sudden it matters.

April 10, 2012 02:18 PM
Rainmaker
945,588
Karen Fiddler, Broker/Realtor
(949)510-2395
HOM Sotheby's Intl Realty, 949-510-2395

Michael: I agree...and if the offer is just silly, there is no point.

Candice: I like that approach, but you are clearly a solid agent trying to help your buyers.

Adrian: I like that also....

Carla: they seemed to have disappeared also....Spammy? But then I am an "international active rainer" am I not? (now that it's gone, inside joke)

April 10, 2012 04:08 PM
Rainmaker
314,400
Dave Halpern
Louisville Short Sale Expert
Keller Williams Realty Louisville East (502) 664-7827

Agents representing buyers need to realize that they are hurting their own credibility when they submit offers that do not make sense.

April 11, 2012 05:22 AM
Rainer
57,364
Millie Lumpkin
Keller Williams Preferred Realty

There are some buyers that really want the home and are just hoping they will luck out. These are different than the obvious investors that attended a workshop and are just blanketing the field to see if anything sticks.  Those I have less patience with.

April 12, 2012 12:43 PM
Rainmaker
945,588

Karen Fiddler, Broker/Realtor

(949)510-2395
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Additional Information

A Southern California Coastal agent's perspective on real estate and other things that interest me!

Author Bio: Karen Fiddler has been a Realtor for...