When is a low offer an insult?

Usually Sellers want as much as they can get for their home and Buyers want to buy the home at the lowest price they can get it for. This probably why so many people make and negotiate offers. I get that.

What I don't get is how some people offer pennies on the dollar on regular homes, not homes in trouble, and act suprised when the Seller feels insulted.

How low is too low? When is a low offer an insult?

Originally Posted by Thomas How low is too low? When is a low offer an insult?

It's too low or insulting when the client says it's too low or insulting. It's a subjective not objective measurement.

"What I don't get is how some people offer pennies on the dollar on regular homes, not homes in trouble, and act suprised when the Seller feels insulted."

Do you feel that these type of buyers are within or out of market?
Before you answer this trick question, I'll answer by saying that all
buyers are within market because the market consists of all buyers.

It takes two to tangle (buyers and sellers) in a market and it'll probably get worse as I heard a spokeman say that the price of houses may drop over the next few years.

A professional doesn't let his feelings get in the way of doing business. When I worked in the carpet cleaning business, my second firm was doing less business due to an improving economy
(not surprising when you realize it's a repair business - when the economy improves and people start to make money, they'd rather get new carpets than have the old ones cleaned). Yet even during
a hard industry time, I kept on exceeding the quota by 25% which
is high for that industry and I wasn't bothered by those who held onto their money tight, just part of the game.

Originally Posted by Wonderboy Do you feel that these type of buyers are within or out of market?

Yes because before the price is set I look up comps or the Seller gets an appraisal. When the home is priced right and someone comes in and offers pennies on the dollar yes I think that's out of market.

Any thoughts as to how these low-ballers are arriving at their prices?

Originally Posted by Wonderboy Any thoughts as to how these low-ballers are arriving at their prices?

Low-ballers. That's a good word for it.

I hear alot of reasons like we're from Canada and so it costs us more or where I'm from you could buy the same thing for less or we want to buy as cheap as we can get it.

I'm venturing a guess that many of these low-ballers have a preconceived notion as to what the price should be, based on what they hear from their friends and relatives or what they get from the news.

You'd be encountering resistance because many feel it's simply in YOUR best interest to get the highest price possible. I gave you an example where I faced an even harder situation at Best Buy due to a shirt I was wearing (fortunately I solved that problem).

I would suggest that you think of a way to give this group a choice. This would show the prospect you're really on their side and gain some respect from them.

Originally Posted by Wonderboy I would suggest that you think of a way to give this group a choice. This would show the prospect you're really on their side and gain some respect from them.

That could be tough. Any ideas?

I don't know if this would be permitted in your job. If someone is low balling you, show them an ad with a house that's closest to their range and suggest they have a choice to go with that house (presumably with some undesirable features) or going with what you have to offer.

This avoids arguments and my guess is some will settle on the spot and some more will get back to you later on.

Originally Posted by Wonderboy I don't know if this would be permitted in your job. If someone is low balling you, show them an ad with a house that's closest to their range and suggest they have a choice to go with that house (presumably with some undesirable features) or going with what you have to offer. This avoids arguments and my guess is some will settle on the spot and some more will get back to you later on.

The offers come after the showing and the people have decided which home they want. I can't tell them NOT to make an offer either. I have to present any offer they write up. There has to be an answer for this.