Why agents don't like to put in lowball offers
Nashville is in the midst of a seller’s market, so let’s answer the questions from this perspective.
It’s not that agents don’t want to submit your offer, they prefer not to ruin your opportunity to purchase the home.
Sure, a low-ball offer could help you anchor the price lower. However, most low-ball offers tend to insult the seller, show that you are difficult or give the impression that you are not a serious buyer. Especially in this market where most listings have more than one offer.
This is not the first impression that you want to give because they will likely go with one of the other options and not give your offer consideration.
There is one place that this can work in a seller’s market. And that’s with an overpriced listing.
When you see a home that is one the market for 60+ days, there is a 99% chance that the home is overpriced. And you can make the same assumptions with an overpriced listing: Either the seller is difficult or not serious about selling their home.
That’s where a good agent can help you win the battle.
If you decide to place an offer on an aged listing, you need your agent to be on his game. It’s going to be his job to convince the listing agent and the seller that your price is reasonable.
That’s not always an easy job with a challenging seller.
We recently closed on one that was purchased at 17% below the list price and it wasn’t easy. This one took longer than expected, so the buyer needed to have patience.
There were considerable hoops to jump through in order to purchase the home.
It was a difficult transaction, but it brought considerable value to my client. In the end, that’s all that matters.
For those looking for value in this market, you need an agent that knows where to find it and how to get it.
Does this sound like you?
If so, just hit reply and let me know what you want to achieve and I’ll start looking immediately.
The Daily Deal in Nashville is a brick ranch in Donelson that would make a great rental or starter home. It is listed for less than $175,000.