How to talk your bottom-feeding buyer out of low-balling

If agents are working with a house-hunter determined to secure a major bargain – and that client found a home that meets his or her needs – experts say agents should write up the buyer’s low-ball offer no matter how unreasonable it is.

The big reason: An agent should recognize that the buyer is the boss and entitled to make whatever offers he or she wants. After all, the buyer hired the agent.

Furthermore, the agent doesn’t know for certain that the seller will reject the offer, and trying to persuade the buyer to increase an offer more could generate complaints that the agent is working with the seller or the listing agent.

However, agents do have the right to end unsatisfactory client relationships. In this case, it might be the right move if arguing with the buyer isn’t worth the energy or the hit to an agent’s credibility.

Now, I personally found a property in my neighborhood that I was interested in for a rental property. I submitted an offer on this short sale that was 88% of list price. It was a short sale. The listing agent immediately said he wanted a full price offer and a full 1% escrow deposit in advance. I said What? Since when do Listing agents make the call? I asked him to send it to the seller. The next day he essentially said that he did and the seller agreed with him. First off, I highly doubt that he ever submitted it to the seller. What a bunch of bunk. I did not submit a full price offer on the home. I let it go and someone put it under contract a week or two later. I had a friend of mine, agent submit the offer for me. When it was determined that they wanted full price, we called the Broker. The broker said “An investor is not a protected class and we don’t have to submit all offers” WHAT? Are you kidding me? When this thing sells, if it’s not for full price I will have someone’s tail in a sling.

Bottom line, Listing agents you are an employee of the seller. You are not the seller. I am sick and tired of agent acting like they know everything and simply just kill deals. These people need to get out of the business…..aaarrruugggg..