Patti Lovell, Real Estate Agent serving Pearland,Houston,Galvest (Pat Griffin Realty, Inc.)

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

If the person is truly a client and I had a relationship with them having listed and/or sold homes with that client I would advise accordingly and write the offer. If that person is not a client ... no history ... I personally would spend my time doing something else ... like maybe watching paint dry.  

Apr 09, 2017 05:33 PM
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Well it is clear the buyer doesn't value your opinion or expertise and thinks he is the expert. That would disturb me more than having to write the lowball offer.

Apr 09, 2017 03:55 PM
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Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

What do you want to do Patti?  My two sense: If this buyers is a true bonafide buyer than whip up the offer and don't expect anything from it. It takes 10 mintues to write one up, no big deal. If he's just playing a game spend you're time attracting buyers that are actully serious about buying a home.

Apr 09, 2017 04:38 PM
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Your buyer must be a true negotiator however they may just irritate the seller enough so that they won't even look at their offer or to counter. I often return such offers with "We are too far apart to even counter your offer!"

Apr 09, 2017 04:30 PM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

If this buyer is a "true" client you have to write the offer... you must obey all lawful instructions of your client and there's nothing unlawful about a lowball offer.... maybe it's stupid, but not illegal.

Apr 09, 2017 02:37 PM
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

write it up...deliver it.... preface delivery with "don't shoot the messenger"... relay the bad news to the buyer.... then cut the lace off his panties and let him run!!

Apr 09, 2017 05:30 PM
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Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

From what I was taught, an agent does not have the obligation to write up an offer (yes, it's an absolute thing that listing agents must present all offers), the agent can drop a client at any moment that the business arrangement doesn't seem to be a fit (consult your broker &/or state assoc. attorney line-there maybe legalities to be concerned about in certain situations).

If you decide to continue on, some clients learn over time and some never learn, it's really up to you on how you set the parameters of this situation.

Unrealistic buyers that don't heed sound advice need to be given the boot.

Apr 09, 2017 03:55 PM
Rainmaker
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Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

You can advise and educate all you want, but the client gets to decide what to offer. Hopefully, a negative response from the seller will speed up the education in this case!

Apr 09, 2017 05:01 PM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

1. When a home is overbuilt for its area (or immediate market), it helps the other smaller homes more. 2. If the home has already been appraised, condition issues have been taken into account. Does your buyer think that he has more chops than the appraiser? 3. If this is a first with this buyer, I would go ahead and write the offer and tell him we're going to do it your way this time, but you should not expect a response. 4. If this guy wants a $500,000 house he should be looking at $500,000 homes.

Apr 09, 2017 04:21 PM
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Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

I would write the offer and hope the seller is not offended enough to reject the offer, but might counter back.  Either way you have done the lawful thing.  I've had clients do this before and we ended up putting the deal together.  You just "never" know.  Wishing you the best!

Apr 09, 2017 03:24 PM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Write the offer.  Prepare to get it thrown back at you, with no counter.

Apr 09, 2017 03:18 PM
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Patti Lovell  

When I was brand new I allow first time buyer to try the taste of offering process and I needed to practice contracts. After getting rejected I tell them how many offers rece'd and how much off they were.  If they do not want to learn that is the end of our relationship.

Starting 2nd year I balk at the buyers and tell them on the spot that does not work. In our area even during deep recession every offer was way over listed price. If today your CMA shows 105% over listed price was the average, you offer CMA or market price you are likely to be 6th position since there are likely 5 over your offer.  In your case, I suggest you state your broker will not allow that practice and your(soon someone else) client get serious.   Most realtors here will show just show a few properties that meet their requirement if they do not move forward adios. 

Apr 09, 2017 03:06 PM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Talk to an appraiser.

Apr 09, 2017 02:29 PM
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Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

The thought of a Buyer in this price range (at least in my market) is attractive. However, he's NOT a Buyer in this price range and I have better things to do than writing offers for people who know everything and won't listen to reasonable advice. I have met this guy many times in my career. I don't work with him anymore.

Run, Forrest, Run 

Apr 09, 2017 07:24 PM
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Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Write it and run. Good luck.

Apr 09, 2017 05:19 PM
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Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

For some clients, you do need to write up a few low-ball offers and let the client see the response to it.  When an offer comes in that low, there is not even a chance of negotiation.  You can explain that if the listing price was 100K or $200K less than the actual price, it would have 20 offers in a day, so there is no reason for the seller to go down that low, before even trying somewhere in between.  Also such a low ball has a risk of offending the seller so badle, that even if the buyer were to increase the offer, they may not even strike a deal then because they have been offended already.

Fun times!

Apr 09, 2017 04:55 PM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Just like you posed your opening question then add...we can start a big bidding war if we invited everyone at your numbers which would drive the price up anyway so you see this wont work. Try again its a great home

Apr 09, 2017 04:22 PM
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Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

Patti Lovell - Sounds like you've received some great thoughts on this question... I wish you the best!

Apr 09, 2017 03:49 PM
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Explain to your client that you will write what he is asking, but the comps do not justify it and he runs the risk of making the seller extremely angry with him and perhaps never wanting to entertain a more realistic offer in the future. But you will write what he wants.

Apr 09, 2017 02:57 PM
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Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

IMO you have 2 choices - write the offer and explain to the listing agent what you realize and/or tell the client you have a reputation and can not in good conscience write that kind offer.

HOWEVER - it may be that home is priced way high for the area - appriased price is not always selling price specially if a home is over built for an area!

Apr 09, 2017 02:43 PM
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Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

Place the offer and duck!  lol.  Good luck!

Apr 09, 2017 02:36 PM
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Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I would likely follow the advice of Kathleen Daniels but as a side note this is also one of the dangers of OVER pricing if your appraised value (I assume this is appraisal not tax assessment) is $100k less than list and also assuming you are in the LUXURY end price range there. The seller would have benefited greatly from dropping price to near the appraisal value... they would increase their serious buyers. Patti Lovell 

Mar 24, 2018 09:45 AM
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Melissa Jackson
Century 21 Alliance Properties - Azle, TX
Helping You Make The Right Move

You have provided comps. I would write up the offer. When and if they counter - go from there.  Maybe your client will adjust once they loose a contract. Not sure how your market is. Ours is competitive at this moment. 

Apr 09, 2017 07:45 PM
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Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

Explain the futility, write it up and explain.

Apr 09, 2017 07:44 PM
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Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Why is it that your buyer wants to make such a lowball offer? Is it because he thinks the home isn't worth that much or is it because he is wanting to get a good deal? The appraiser already made adjustments on the subject property, I guess he thinks the adjustment isn't correct or he knows better. I think the bottom line is regardless how many education and guidance you give, client makes the final decision.  Yes, that means including writing the lowball offer.

Apr 09, 2017 07:08 PM
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Write it up. After a few failed attempts they'll figure it out 

Apr 09, 2017 06:54 PM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Submit the offer as requested by your client.

Apr 09, 2017 06:10 PM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

My response is he needs an agent that does not mind wasting time!

Apr 09, 2017 06:00 PM
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Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

Advise the buyer that if they go too low, they risk alienating the seller.  The seller may not counter or even entertain a new, more realistic offer from that buyer.

Once you've advised the buyer, go ahead and write whatever they instruct you to write and if they don't get real very soon, let them go. 

Apr 09, 2017 03:33 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I think you have to write the offer, having provided the appropriate information about value, comps, etc. and see what happens. Bet there will not be a counter, or it will be full price

Apr 09, 2017 03:32 PM
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Patrice Schwartz
Barden Realty - Metairie, LA
Right now I'm focusing on uptown new orleans

There is no way I would work with this guy. I'm sick of people like this running me; sound like it's just a game for him,  If he were serious about buying a home, he would have gotten the message due to his rejected offers in the past.  I'm sure this guy doesn't have "buyer's agency agreement with you, so in my state, you are not obligated to write for him at all.  I would advise him to google the "best realtors" and soon this clown will realize nobody is going to work with him.  I would ask him if he wanted to sell the car he just bought for 25,000 for 12,000? Analogy

May 07, 2017 04:13 PM
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John Chubb
Loyal Finance Corporation - Abbottstown, PA
Private Lender & Investor

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Apr 23, 2017 07:00 AM
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Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Patti - I had an investor client like this once. He would ask me to write lowball offers, and then when the sellers accepted a higher offer, I would try and explain to him that he is not getting any properties because he is not offering enough according to what is going on in the market.

He ended up blaming me somehow, and on the last offer I made for him, he asked me to pay the seller to accept his lowball offer. I explained to him that it doesn't work that way. Why would a seller accept his lowball offer just because he paid them a little extra under the table. I can't remember the exact amount, but it was something like this. He offered $140k on a $175k listing and wanted me to pay the seller $5k to accept his offer. At the time, sellers were getting almost full price offers, especially on lower priced investment properties. So I tried to explain why anyone would accept his offer at $140k plus $5k, when they would get a $170k offer from another buyer? Finally, I realized this investor client of mine was a shady character so I decided to fire him before I got into trouble.

In your case, I would go ahead and write up the offer (after I let them know I felt it was very low), and submit it to the seller. If they don't accept, and no counter, you will know why. If that hope eventually accepts a higher offer, it will be ammo for you to use with your clients the next time they decide they want to buy a home.

Apr 13, 2017 11:49 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I am their agent, so I have to do what they tell me but remind them that they will probably not get a respond and how they would feel if they were the sellers.

Apr 13, 2017 07:11 AM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

If they are adamant, write it.  They will find out quickly it won't work.

Apr 11, 2017 05:18 PM
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Jim McCord
Keller Williams Pinnacle Group - Cincinnati, OH
#1 Best Selling Author & Real Estate Coach

That's one of the reasons I chose to work 90% with sellers about 20 years ago... :)

Apr 11, 2017 03:10 PM
Rainmaker
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Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Give the buyer the facts and realize that some buyers won't listen to your profesional advice. If the buyer refuses to listen, write the offer and let it play out as it will.

Apr 10, 2017 02:12 PM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'd tell them that whether or not you like the color of the paint does not impact the value of the house.  I would not write the offer as it would be a waste of my time and don't want to become known as a "low baller" agent.

Apr 10, 2017 02:12 PM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Sorry, Patti, but such client sounds to me like a huge waste of time. 

Apr 10, 2017 12:36 PM
Rainer
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Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Tell buyer you will send offer but expect no response as is an insult. Perhaps they include preapproval, underwritten and proof of cash funds to demonstrate they are serious. If they don't have a solid loan commitment from known lender and have cash in checking account you are wasting your time and they will shop you until you drop 

Apr 10, 2017 11:02 AM
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Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

you do work for the buyer submit it

Apr 10, 2017 09:18 AM
Rainmaker
598,659
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

You are responsible for providing all offers, so provide it. Then tell the Buyer they need to be realistic or find a new agent because you are not going to waste your time on ridiculous offers.

Apr 10, 2017 07:06 AM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Since you are his agent, you are required to represent him. When the offer is flat out rejected, if he shows no signs of sanity, fire him and stop wasting your time and money.

Apr 10, 2017 07:01 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Kathleen Daniels nailed this one!

Apr 10, 2017 06:52 AM
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Patti Lovell Your buyer has to learn the hard way. Write the offer and let your buyer chalk it up to experience.

Apr 10, 2017 06:43 AM
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would let him/her know that the odds of an acceptance are slim and if he insists on making the offer, you will charge him $150 to write it up which will be credited to him/her upon the successful closing of the property.

Apr 10, 2017 06:33 AM
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I would save time and say let me call this into the Listing Agent , let them turn it down and say now what do you want to do ? I also would probe the Listing Agent as to what they've turned down so far ?

Apr 10, 2017 06:06 AM
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James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

IMHO you have two choices either present the offer, or fire the client. 

Apr 10, 2017 05:44 AM
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

I would ask them if they would like to be represented by another agnet.

Apr 10, 2017 05:26 AM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Personally, I would not write the offer & tell the buyer that & the reasons why. It's not realistic & your data proves that.

Way before this I would have asked the LA how did they arrive at the price. There could be something there you just don't know about.

I hate it when buyers deduct things/changes they want to make to a house.

Apr 10, 2017 05:23 AM
Rainmaker
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

No real comps tells me to give it a shot. How long does it take to put an offer together?  Nothing tried nothing gained!

 

Apr 10, 2017 04:43 AM
Rainmaker
610,666
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Too late...

Things like this need to be discussed before you show property.

When you have reality talks with the buyer before making an offer, you can educate, enlighted or give clarity. 

Educating after buyer wants to make an offer sounds too much like an arguement.

Eve

Apr 10, 2017 04:25 AM
Rainmaker
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

If it's a client, I'd write up the offer and submit. Maybe after getting a strong "NO" from the owner they'd start listening to you. If they didn't, I'd let them go so they could find another agent. 

 

Apr 10, 2017 03:04 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Patti Lovell - do you have to work with this buyer?

Buffini & Company taught me how to say 'Bye' to such buyers.

Apr 09, 2017 11:37 PM
Rainmaker
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Bye Bye Now!

He/She is not a buyer.

Apr 09, 2017 09:00 PM
Rainmaker
709,884
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Simple. Fire your client before noon in the morning. And get yourself a real paying client in the afternoon.

Apr 09, 2017 08:58 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

You could write it up, sometimes those offers get accepted, but not likely in this market.

you could refer this client to an agent with more time on their hands to waste.

or you could just quit unless your clients listens to your advice.

Apr 09, 2017 08:45 PM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Patti Lovell - I'm so sorry you're dealing with this and we've all been there, done that! Typically out of town relatives are steering the ship in my case but, for you, it sounds like they're just being unreasonable. Personal preference does not matter when it comes to a recent appraisal! 

I would write it up and provide an explanation to the listing agent that the buyer will need to do x, y and z and "Let's see if we can make this work!" Sometimes just extending the olive branch saves embarrassment on your part and may get the negotiations started. In the meantime, keep the information/data coming to your buyer.

You may even suggest having an independent appraisal done by your buyer. Suggest to him that since his valuation is so far apart from the seller's, he may want to spend the $500 for an appraisal.  Tell him it's an inexpensive exercise to potentially get hundreds of thousands of dollars in a price reduction! Perhaps when he sees an independent appraisal, he'll see the light!

GOOD LUCK, Patti!

Apr 09, 2017 08:15 PM
Rainmaker
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Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Wait a minute! Are you under the impression you HAVE to write that offer? If they are a PAST client, that does not obligate you in any way--only if you want to. A client relationship ENDS when a transaction has closed. If you decide to write this offer, then to establish a client relationship--again.

Would I write up that offer? Depends who the buyer is and the location. Here in Carmel-by-the-Sea there is no way anyone would look at that kind of offer, whether the home sells fast or not. It's not the home, it's the LOT LOCATION. I might write it if the potential client is someone who is known for his business acumen, not someone out of the blue who doesn't understand our real estate market.

Apr 09, 2017 07:36 PM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Patti,

We once had a situation where the buyers agent insisted on being stupid and bringing his clients offer $1 million lower than asking.  Then he insisted on being the one to present it.  Our seller agreed to the meeting.  After the pompous presentation , our seller took the offer rolled it into a ball and threw it at the agent.  He uttered one sentence, You will never be welcome here  again!  Our seller was a major shaker and mover.  The agent moved to San Francisco from Los Angeles, and became a Starbucks barrista!    A

Apr 09, 2017 07:02 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Be tempting to drop them

Apr 09, 2017 06:34 PM
Rainmaker
528,533
Kathryn Acciari
Arc Home LLC - Shrewsbury, MA
Relationship Manager/Mortgage Loan Originator

You have received excellent advice here, Patti. Let us know how it goes!

Apr 09, 2017 06:08 PM