Agents in the group discussed what they do when a home buyer wants them to make an offer that is lower than the asking price. Several officers said they wouldn’t do it. Others had strategies to get the buyer to offer more.
Agents in the group expressed righteous outrage about working with buyers who don’t want to pay full price or more. Some indicated they would decline to write the offer.
Buyer’s agents represent home buyers. Their job is to write whatever offer the buyer wants to make. The real estate agent can give the buyer advice, but ultimately the buyer is the boss. Agents who represent buyers owe the buyers obedience as they contract with the buyers and work for the buyers.
A good purchasing agent helps the buyer negotiate a lower price. As hard as it is to believe, even in a seller’s market there is room for negotiation.
In a multi-bid situation where multiple buyers make an offer on the same property, the sellers will take the best offer. Usually the best bid is the highest bid, but not always. Other conditions may be important to the seller. A good purchasing agent can find out what those conditions are.
When a seller receives an offer that is too low or an offer they don’t like, they can accept it, reject it, or negotiate a better offer.
Buyers won’t know what a seller will accept until they ask, and it doesn’t hurt to ask. The owners of overpriced properties will appreciate any offer. They do not receive multiple offers and the home becomes an opportunity for the buyer who is not afraid to go below the asking price.
Always choose a purchasing agent who works for you and not for themselves.
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