Recently there have been several blogs discussing low-ball offers and the agents that submit them.
As an agent who works primarily with buyers I find these discussions interesting because the comments and posts tend to suggest that the buyers are unrealistic and their agents unprofessional. Very few people even investigate the possibility that it is the sellers and their agents that are unrealistic.
I closed on a home that was listed for $200,000 over the price the buyers offered. When the buyers made their offer it was not because they were trying to steal a home or because I, as the buyer's agent didn't know what I was doing. Instead, the offer price was made because after reviewing the comps that was what the buyers thought was a reasonable offer.
At first glance the listing agent was not impressed with the offer and pointed out repeatedly that the offer was way too low.
Eventually with no other offers forth coming the sellers decided to accept the offer.
The home had been on the market for 9 months when we came along. At the time we saw it the house was on it's second agent and 4th or 5th price reduction. The final purchase price was a whopping $700,000 under the price the house first went on the market for.
In this scenario I firmly believe that I did my job, I helped my buyer get the home they wanted at a price they were comfortable paying. Just because it was listed for an unrealistic price doesn't mean that we have to pay the unrealistic price.
If you or someone you know would like information about buying, selling, or renting a home in Prince George's, Montgomery, Charles, Calvert, Anne Arundel, Howard, and/or Baltimore Counties please contact Dr. Stacey-Ann Baugh of Century 21 New Millennium.
Dr. Stacey-Ann Baugh
Century 21 New Millennium
FINALLY! A DOCTOR WHO MAKES HOUSE-CALLS!
Information deemed reliable but not guaranteed!