by Stuart Neal
on Friday, September 25th, 2020 at 12:31pm.
One of the Home Buyer Advisors on my team came to me this past week and asked what I thought was a really good question.
How do I get my clients to avoid low ball offers?
Whilst its true that during the first part of the Covid 19 pandemic, our market values did drop, they have risen steadily since March and April to a point where they are now 2% HIGHER than this time last year.
And with falling inventories as the half hearted home sellers give up during the last 4 months of the year, against the back drop of strong demand from what I call the “we want to be in by Christmas crowd” I expect home prices to remain strong for the balance of the year and we may even see a peak during the last 3 months which I have witnessed occurs every year in our market.
You will likely find that its easer to get your clients to change their attitude if you can get them to come up with simple conclusions.
Here are 2 ways you can get your client to come around to a point where they will make a sensible decision.
Ask these questions.
Do you love the home? (buyer says yes)
Are you willing to do all that it takes so that the home seller accepts your offer? (buyer says yes)
In which case, I must urge you NOT to make a low ball offer.
Or you can ask these questions
How do you think the seller will react when they receive your ball offer?
What are the upsides and more importantly downsides of making a lowball offer?
Are you willing to lose the home if this does not work?
In most cases, your client may start to see things from the seller’s perspective and understand that creating animosity and failing to create some goodwill, will not get your client what they want.