Verbal Negotiating Traps and Pitfalls Savvy listing agents know how to parry, “Would the Seller consider taking $__?” Namely, by shooting back, “Is the Buyer offering $___?” If the answer is “Yes,” they respond, “Great! Put in writing, and I’ll do my best to get a quick, serious response from the Seller.” If they balk or say...Read More
That’s Your Offer? Really!?! “Pornography is hard to define . . . but I know it when I see it.” –Supreme Court Justice Potter Stewart No, there’s no scientific definition of a lowball offer, but like Potter Stewart, “I know one when I see one.” In fact, unbeknownst to laymen, there are actually three types...Read More
Permission to Lowball . . . Denied As a listing agent (representing Sellers), I sure seem to be parrying a lot more of what I’ll call “verbal probing” these days. The gist of all the questions being lobbed by Buyers’ agents: “would the Seller consider an offer significantly below the current asking price?” Thrust — and...Read More
Padded List Prices What do you do if you’re a Seller in a Buyer’s market who’s worried about lowball offers? At least a few succumb to the temptation to pad their asking (“list”) price. Their logic? The higher their initial price, “the more room they have to negotiate.” Flawed Logic Well, yes. But that presumes...Read More
Realtor-Speak for “No Go, Try Again” Personally, I’ve never understood the logic of “countering full price.” That’s what most listing agents advise their clients to do when they receive an offer that’s disappointing — or worse. Supposedly, that conveys to the Buyer that the offer is too low to begin negotiating in earnest, and that they...Read More
Buyer and Seller “Buzzkill’s” If you didn’t already know, residential real estate can be a highly emotional affair. Savvy Buyers and Sellers (and their agents) know that . . . and act accordingly. Turn-On’s . . . and Turn-Off’s For Sellers, the biggest emotional turn-off undoubtedly is dealing with a Buyer who’s trying to steal their...Read More
