Best of 2016: How to Educate Buyers to Make Good Offers
#9 in our countdown of the most popular articles of the year.
Posted by: RET Staff
As Realtors®, you see this again and again. As a listing agent, you are required to submit all offers to your seller, even the lowball offers. It is a horrible situation for the agent. Indeed, it is probably a horrible situation for the buyer’s agent, too. It is embarrassing for a buyer’s agent to submit a lowball offer to a seller.
As the listing agent, you need to reinforce the price. Respond with the data that was used to set the listing price. You did a CMA, just update it with current comps. When you counter to the buyer, include the facts that support your pricing. The buyer’s agent is unlikely to argue, especially if you are drawing those facts from the same MLS.
Another piece of information that you may want to include is the graph showing the sales price as a percentage of the Original Price. The graph above is a good illustration of this.
Real estate professionals understand that there is seasonality to pricing. You can see that the spring market is hotter for sellers than buyers. The buyer market gets slightly stronger in the fall, and is red hot over the holidays.