This is not necessarily a water cooler conversation, but I can’t help but bring up a touchy subject. I occasionally hear agents say they received low ball offers after just listing a home.
There is a time and a place to make a low ball offer. If a home is just listed and the price is competitive, a low ball offer is not appropriate. If your agent is not familiar with the neighborhood, a low ball offer is not necessarily a wise move. Not only does it insult the owner but chances are you will not be negotiating.
So, when is it appropriate? If a home has been on the market for a year or more maybe you can get some movement out of the owner. If the home is over priced, a low ball offer may not be so low, but actually appropriate. I have seen homes on the market for several years and I would suspect any offer would be considered.
An agent who knows the area where the home is located and knows the comps, should guide you. Home owners get frustrated and discouraged when low ball offers are made but are not appropriate.
Think things through before you make an offer and get no response. If you really want the home, your agent will guide you when making an offer and suggest an appropriate price.
Contact Beth Wolff Realtors for an appointment with Michele at 713-622-9339.