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How To Counter Low Ball Offers
How To Counter Low Ball Offers
As a seller or listing agent in today's market, you must prepare for low offers. I think you first need to understand why a buyer would submit a lower offer.
The main reason is affordability, which is at all-time lows due to a rate spike. So, don't take it personally when a lower offer comes your way; understand why and use this strategy to help this potential buyer afford your home without giving away the farm.
The KEY IS PAYMENT, and a buyer's goal is to achieve the lowest payment to obtain the loan the lender has qualified for them. They love the home but they need to keep to a certain payment, they feel. Well, we, working together, can counter them back up to list price, using financing NOT price, while providing the m they payment they need AND saving your seller's net sheet AND saving the comps in the neighborhood. A BIG win-win-win!
The video I've put together show the Seller Buy Down strategy I use to help the agents and sellers I work with achieve the payment the buyer needs but at two-thirds the cost of a lower ball offer.
The main reason is affordability, which is at all-time lows due to a rate spike. So, don't take it personally when a lower offer comes your way; understand why and use this strategy to help this potential buyer afford your home without giving away the farm.
The KEY IS PAYMENT, and a buyer's goal is to achieve the lowest payment to obtain the loan the lender has qualified for them. They love the home but they need to keep to a certain payment, they feel. Well, we, working together, can counter them back up to list price, using financing NOT price, while providing the m they payment they need AND saving your seller's net sheet AND saving the comps in the neighborhood. A BIG win-win-win!
The video I've put together show the Seller Buy Down strategy I use to help the agents and sellers I work with achieve the payment the buyer needs but at two-thirds the cost of a lower ball offer.