Do you let buyers bully you and waste your time?
I recently had a listing with a 30-day price tag of $449,000. The home was a 4 yr old Fr Colonial with 10’ ceilings, 5-BR/4-Ba in a gated waterfront community. It had a 100’ dock, covered boathouse w/lift, and a brand new heated spa and pool. Fantastic buy!!
Right off the bat, in the first week on the market, we had one agent actually bring us an offer of $250,000!!
We have all been in this situation at one time or another, but there is a point at which you need to lay down your pen, look the buyer straight in the face, and ask “Do you really want to buy a home?” Then stop. Wait for his answer.
My policy: Show him the comps, educate him on the process, and if he still isn’t willing to make a somewhat reasonable offer, drop him and move on. I actually had a buyer tell me one time he had worked with at least 5 different agents – and none of them were any good at negotiating.
Hmmm. As Bill Engvall says, “There’s your sign!”