Bonehead Agents Sending Lowball Offers

Now that I have your attention.......

There have been a lot of posts here about low ball offers and debates about sending them, how to deal with them, are they good or are they bad.

Question:  Are agents and investors that send low offers total Boneheads?

Steps to an offer:

1. Find property (10 minutes)
2. Drive to property (10-30 minutes)
3. Look at property (10-60 minutes)
4. Drive back (10-30 minutes)
5. Research property (10 minutes)
6. Run proforma (10 minutes)
7. Discuss (10 minutes)

So, for the average property the buyer and agent are spending approximately 70 minutes +/- trying to determine if Pretty Property fits the investment criteria for the buyer.

Guess What?  Most times, there will be a price that makes the investment work !

Now you have already spent an hour on this.  The next step is to make a choice.  Do I

•(a)    throw all of this in the trash because the asking price is a lot higher than the price Investor will pay;

•(b)   spend another 5 minutes filling in the little blanks in the pre-printed form (an added burden, I admit) and schlep my butt over to the fax machine.

Schlep: A technical term meaning drag a heavy load.

Answer to Question:  You are a Bonehead if you don't send them !!

So you say:  "Ok, Rich.  You've dangled the hook and we took the bait.  Give us the rest"

In true "trying to be a guru" form, I must respond that this is all you get without buying my book.  It's a 1 Trillion Dollar value that can be yours for 74 low payments of $47.99.  We take Visa.

Just kidding.  I need to go to the Circus with my daughter.  I will do more later.