Here's a real estate list and sell scenario...the property buyer who has been looking for six years but can't find anything he likes stumbles on to your website.
Visits your burg. Scopes out any new listings. The ones he has not already watched each and every real estate video of roughly ten times or more. The logs bear out that virtual traffic through the place during and after office hours. Rugs still look great though. Nothing disturbed in the home either. From all that all hours, open house on demand in and out. The be kind and rewind re-tours of the listing, the local area events for new to these surroundings happen round the clock.
After exhaustive return trips to property with hundreds of tradesmen, the buyer makes a property offer. With conservatively 3500 things that this property buyer does not like about the place.
The property offer is a quarter of the listing price.
The buyer is looking to fix the wondering how much wiggle room there is, the dive to the bottom line in one fell swoop. The grenade offer does just that and then some.
The property which has a fair price for the listing already hanging off it. Written in easy to read red block tag letters circling the MLS carousel waiting for pick up. The taxi... get me to a closing on time process to begin.
It is not from lack of resources to purchase the real estate that make the low ball offer necessary. Not the only option or case of would you consider only this much the ploy. Because this is all I have (pulling out empty pockets and looking poor as a church mouse gesture.)
The guy deserves an Academy Award, Oscar. Some statue with a plaque for the performance.
No no...he has the money, the property is worth it and to get the place cheaper (buyer thinks) he spells out everything under the sun.
That make the property listing Kryptonite to him.
To let the seller think he is some kind of lucky. To find someone for this out on the limb seller.
That despite all that is wrong with the property, he will do the honorable thing.
Giving impression he is the only one in the entire universe that will ever step forward in this lifetime. That will come along to do so.
Willing to take the place off his hands today for this much cash on the barrel head. Or with a down to the floor unrolled list . Of contingencies tied to the low ball offer. To the point that prompts Joe Broker to pleasantly ask, slightly amused doing so, "So...if this, and this, and this (scrolling down the deficiency list pointing with pen) is wrong with the property for your needs. Well, why are we going to pursue, want to buy this particular one?"
Buyer stops up short. Gets ten shades of red. Coughs a few times, looking at floor and then picks up steam responding "Oh don't get me wrong...I love the place. I think it is perfect for my needs..etc."
But he is just a nice guy doing the seller a favor to take it off his hands...and wants the seller to know what a horrible property he owns but that it is his lucky day. He has found a property buyer for it anyway. And would you the broker cut your commission in half. Or on second thought, consider donating it all to this very worthwhile charity he is a trustee for and very passionate about.
As a real estate broker, I convey the offer. I indicate you the buyer are not trying to hurt anyone's feelings and to please...don't kill me the messenger.
Put down that chainsaw or hand operated can opener.
It is just a property offer, they don't always work out...but something to just consider. React to or not. Although you wished you did not have to present the offer that is so hopelessly upside down and unrealistic, get it done quickly. And respond with the seller's position.
Don't chastise, lament or get riled up...just convey it and keep the marketing machine going.
Let them know you are showing the place again to another prospect and keep moving. Maybe the idea of someone else buying will make a world of difference. To up the ante.
Or you the seller's agent becomes the enemy keeping the buyer from stealing the property.
He may need a buyer's broker to tell him this is not going to fly, and to reiterate what you have been telling him right along.
Be glad there is a buyer's broker to "help" him otherwise you are not going to get much other work done for the next five days he is in town.
The buyer broker you recommend may not thank you later but will return the favor some day! Maybe already has a few times.