Are 'Low Balling' Buyers Killing Your Deals? (Part 2)

PART TWO of a 2-Part Series: Are 'Low Balling' Buyers Killing Your Deals? Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com STEP THREE: Educate your buyer clients on the market and listing facts. Meet your buyers in person and educate them on the facts based on your previous two steps.  Decide together after that discussion what price should be offered for the result to be an accepted (or at least countered) offer.  Keep in mind, that a lowball MAY still be warranted in some cases.   Huge News! Tim and Julie Harris are providing 250 live mastermind meet-ups in 2024. Chances are there is an event near you. Best part? These events are free! Grab your spot now: https://app.getriver.io/tim-and-julie  The below example assumes the house was correctly priced, didn’t have a bunch of condition issues, or had been sitting on the market. Script: “Mr. / Mrs. Buyer, I appreciate the fact that you are considering making an offer that is well below the list price.  Of course, everyone wants to get the best price possible, but let’s first review the facts about this listing so we can decide on an offer that makes sense and will achieve the goal of getting you this home.” REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris Go over your market analysis, including the list-to-sell price ratio of the most recently sold and pending homes.  Then you can use the following script (modify based on each property you’re offering on, this is just an example): Script: “Mr. / Mrs. Buyer, the average list-to-sell price ratio for homes that have sold and are most similar to the one we’re offering on is 99%.  That means that sellers in this neighborhood are only negotiating down by 1% currently (assuming it’s priced right, and based on the comps they are priced well). Script: “Let’s take a look here… your proposed offer is about 88% of the list price, so that’s 11% lower than they’re looking for.  With other offers expected, it’s unlikely that they’ll even consider yours based on what they (and their listing agent) know the house will sell for.  If you want this home to be yours, you’ll need to come in much closer to the list price to get it.  Do you still want to come in that low based on these facts, or should we reconsider?  Our mission is to get you this house, right?” Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699 STEP FOUR:  Prepare the offer. Qualified and motivated buyers who want to buy the home will typically see the light after your presentation and ask you to prepare an offer that should be acceptable to the seller, or at least one that would be countered versus rejected. If you have determined that the listing warrants a lower-than-list price offer, record a short, professional, and factual video for the listing agent so they can explain to their seller client why you’re coming in lower than list.  If they can use the same fact you did to determine a logical sale price, their seller may understand and be very reasonable.  At the very least, they’ll be more likely to counter versus reject your offer.  Send your explanation video along with your offer to the listing agent.