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Started By
Message
re: Negotiating real estate prices
Posted on 2/17/16 at 7:58 am to Y.A. Tittle
Posted on 2/17/16 at 7:58 am to Y.A. Tittle
quote:
People who get "offended" at lowball offers in any negotiation setting, are the lamest people in the world.
This.
I sell cars ALL the time. I have also sold a condo and 3 houses.
It is a business decision and has no room for emotion. You can offer me 100K below ask price on a house if you want. I will counter with $50 below my ask. That usually clarifies the negotiation quickly. If you are just looking for a desperate seller, it is never me. I plan ahead and put things on the market well ahead of the time I need to sell.
But I am never offended. Why be offended?
0
Posted on 2/17/16 at 8:38 am to poochie
Always pay full price.
Its only money
Its only money
Posted on 2/17/16 at 8:46 am to poochie
Did you really go in at 20% less than asking? Jesus dude. I wouldn't have even returned your call
Posted on 2/17/16 at 10:49 am to poochie
quote:
Also, what's a good book I can read to gain more insight on the art of negotiating?
Negotiate to Close by Karass
Also respond with 65 and say final offer
This post was edited on 2/17/16 at 11:07 am
Posted on 2/17/16 at 8:40 pm to Brettesaurus Rex
quote:
Did you really go in at 20% less than asking? Jesus dude. I wouldn't have even returned your call
If I'm selling a mobile home and asking $10k, should I not consider an $8k offer? The answer is yes, yes I should. You sound like you have very little experience in real estate transactions.
Posted on 2/17/16 at 9:03 pm to bbatta11
Figure out your comps, and what you think the value is. That's often not the same as list. Then, if you can, gauge how desperate the seller may be.
Make a strong case to go along with an offer that is pretty close if not your best.
My last home purchase I shaved a good bit off. Wasn't a ton in the way of great comps. Had the realtor offer significantly below ask (in the hot Nola market). Countered with very close to ask. I came up only slightly and the realtor looked at me like I was crazy but said she would do what I ask if I'm sure but she didn't think it smart. Emailed her a case with some slightly unorthodox comps and adjustments that I figured and a note that I wouldnt go higher. Was accepted with a note that it was a very persuasive case.
was a guy developing a few though and he had a couple in the area coming on line soon after and didn't want to be holding property to compete against himself.
The other two, essentially identical, came in full ask and over ask with about 6 weeks. The appraisal came in right at his counter, which is likely why he pulled that number as his first counter.
Learn whatever you can and use the knowledge to find a number that could make sense. Could be way under or even over asking depending on the asking price and situation.
Make a strong case to go along with an offer that is pretty close if not your best.
My last home purchase I shaved a good bit off. Wasn't a ton in the way of great comps. Had the realtor offer significantly below ask (in the hot Nola market). Countered with very close to ask. I came up only slightly and the realtor looked at me like I was crazy but said she would do what I ask if I'm sure but she didn't think it smart. Emailed her a case with some slightly unorthodox comps and adjustments that I figured and a note that I wouldnt go higher. Was accepted with a note that it was a very persuasive case.
was a guy developing a few though and he had a couple in the area coming on line soon after and didn't want to be holding property to compete against himself.
The other two, essentially identical, came in full ask and over ask with about 6 weeks. The appraisal came in right at his counter, which is likely why he pulled that number as his first counter.
Learn whatever you can and use the knowledge to find a number that could make sense. Could be way under or even over asking depending on the asking price and situation.
This post was edited on 2/17/16 at 9:06 pm
Posted on 2/17/16 at 9:52 pm to poochie
My processes has always been to player harder with those that low-ball me.
For example, if I am selling anything and get an offer more than 20% off, I respond back with list. At this point, I will most likely not even budge with these types of people.
I do my research before I sell anything. I will work with people that give me a reasonable offer.
I think people are too quick to take a 1st offer and not wait for the right buyer. They are out there.
We are selling our home right now. My neighbors house sold a while back for 103/sqr. Smaller, smaller lot and not updated. Mine is fully updated with new appliances, floors, paint etc within the past year and I listed mine for 104 (home is 12yrs old). My first offer on this home was for 99. I simply declined. It was a verbal offer anyway.
The next offer I got was for 102.5. I will negotiate with these people and see where we land.
I wouldn't call it offended, but the house has only been listed a week and I am not interested in dealing with people who do not know the market.
For example, if I am selling anything and get an offer more than 20% off, I respond back with list. At this point, I will most likely not even budge with these types of people.
I do my research before I sell anything. I will work with people that give me a reasonable offer.
I think people are too quick to take a 1st offer and not wait for the right buyer. They are out there.
We are selling our home right now. My neighbors house sold a while back for 103/sqr. Smaller, smaller lot and not updated. Mine is fully updated with new appliances, floors, paint etc within the past year and I listed mine for 104 (home is 12yrs old). My first offer on this home was for 99. I simply declined. It was a verbal offer anyway.
The next offer I got was for 102.5. I will negotiate with these people and see where we land.
I wouldn't call it offended, but the house has only been listed a week and I am not interested in dealing with people who do not know the market.
This post was edited on 2/17/16 at 9:59 pm
Posted on 2/17/16 at 9:55 pm to bbatta11
(no message)
This post was edited on 2/17/16 at 9:58 pm
Posted on 2/17/16 at 10:20 pm to JayDeerTay84
I have purchased and sold dozens of houses.
I have often lowballed sellers; however, I have been offended by people lowballing me....go figure!
I have often lowballed sellers; however, I have been offended by people lowballing me....go figure!
Posted on 2/17/16 at 11:00 pm to poochie
it is a rental property and the numbers need to work for you to make money. If that is your goal then I don't think lowballing would offend a seller. I have several properties and the more I get into the business, the more I weep for humanity because people suck.
Offering well below value for no reason other than being cheap will usually piss people off.
To get properties at less than market, the only strategy I know you can have is to be patient, look for people in situations that make them want to deal at less than market value, and be able to close quickly. Beyond that, you need to look for properties that are discounted for obvious repairs and be able to do most of it yourself or have a good handyman that will do work on the cheap.
PEOPLE... SUCK... AND.. WILL.. DESTROY.. YOUR.. shite.. BEYOND.. BELIEF...
Offering well below value for no reason other than being cheap will usually piss people off.
To get properties at less than market, the only strategy I know you can have is to be patient, look for people in situations that make them want to deal at less than market value, and be able to close quickly. Beyond that, you need to look for properties that are discounted for obvious repairs and be able to do most of it yourself or have a good handyman that will do work on the cheap.
PEOPLE... SUCK... AND.. WILL.. DESTROY.. YOUR.. shite.. BEYOND.. BELIEF...
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