303.917.8000 Faun@FaunHauptman.com

Here’s the thing most consumers don’t understand about real estate agents. We are a highly regulated group of people. In most if not all U.S. states, license law dictates two important things about offers we handle. 1) Offers must be in writing. This is not a mere suggestion. 2) All offers must be presented to/from our clients. If our client wants to make a lowball offer, often to his/her own detriment, we are required to write it up and present it, and the listing agent is required to present it to their seller client.

The part most consumers do see is when their own agent tries to feel out the situation by talking to the listing agent, and based on that information, advises their buyer against making a lowball offer because the agent already knows it won’t go anywhere. It’s a waste of everyone’s time to bring it. But worse, it’s likely to anger or annoy the seller and the seller’s agent, which can prevent constructive negotiations on that property even if and when a more realistic offer is made at a future time. I’ve seen this happen quite a few times.

It’s very frustrating to have a client who engages your services to take advantage of your expertise, then promptly ignores your advice. It makes the agent’s job more difficult and lowers the buyer’s prospects for a preferred outcome, which is buying the preferred property at a fair price.

Unfortunately, if a buyer is convinced that lowballing is the way to negotiate a fair price in any market condition, there is no legal way to prevent a lowball offer. The best way to deal with an unwanted lowball offer is to ignore or decline the offer when it is presented to you, the seller.

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