How to deal with buyer clients making lowball offers

  • Citing data, probing goals, emphasizing the importance of trust, encouraging empathy and ending relationships are among the potential ways to handle recalcitrant buyers.

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The home was perfect for the agent's client. Listed at $389,000, the property was close to her top choice school (where she wanted her son to attend). And with the lowest price-per-square foot in the area, it could only be described as a bargain. There was just one problem: The client only wanted to offer what the seller would likely see as a lowball number -- $30,000 less than the asking price. "I feel bad for her, as she is probably going to lose on her near-perfect home by thinking she can lowball these sellers," said the agent, who was able to persuade the buyer to submit a higher offer -- albeit one that he still considers insufficient -- on the home. "She is a smart lady, but just has it in her mind that she can offer much lower than list." Clients like this pose a frequent challenge to real estate agents, but not one that's insurmountable. Here are 10 ways to handle buyers who aren't willing to cough up enough to lock down a home. 1. Tell the...