Nathan Gesner, Broker / Property Manager (American West Realty and Management)

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Rainmaker
547,292
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

The biggest mistake agents make with buyers is that they "chomp at the bit to show them properties "...

If you want a buyer to listen to you, then you need to have a reality chat/counseling session before you agree to be their agent.

Every time I had a unrealistic buyer tell me about the market and that they will also low-ball...my response was "sorry, but no one is giving away their properties and I WILL NOT BE ABLE TO HELP YOU"

Immediately, they BEG me to work with them and then promise to take my advice. I set myself up as an expert who does not need them if they plan to be unreasonable.

If I did what everyone else does...put them in a car, drove them around for hours and then they wanted to low ball, they would not hear a word I am saying, because they would think I am just like all the other "pushy" agents...too late now...

What is wrong with not working with every one who breaths?

Eve

Sep 26, 2017 08:19 AM
Rainmaker
748,796
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The former! "Here is what similar properties recently sold for, here is what similar properties' rental rates are, and this is a range of cap rates in this area for that property type. To get X yield, you will need to be in X range." 
Sometimes it is I suggesting a lower offer or to not make one at all.

Sep 26, 2017 10:02 AM
Rainmaker
3,054,229
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

We have that discussion BEFORE they sign a Buyer Broker - just as taking overpriced listings can be pointless - so can working with Buyers who always want to "under offer"...

Sep 26, 2017 05:20 AM
Rainer
352,676
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Starting with a Buyer Appointment might eliminate that ever happening.  I’ve had clients want to submit a low offer (and do so only with disclosure of why this can backfire and the comps that we carefully go over).  I’ve found that having the buyer consultation first before going out to view Homes does discourage this from happening.  

As much as we want to represent our clients we want them to be serious if their goal is to buy a home.  Often they have either read or heard of friends doing that and winning, but more than likely a different market. Not wasting time on buyers on buyers who might not be serious is key and better to weed them out sooner than later.

Sep 26, 2017 07:13 AM
Rainmaker
1,559,170
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We are required to if representing our principals. After it fails, we can fire them.

Sep 26, 2017 06:59 AM
Rainmaker
3,364,771
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I would make them aware of my CMA and their chances of success! Then, I would present the offer if they want it presented!

Sep 26, 2017 05:37 AM
Rainmaker
3,127,715
Richard Weeks
Dallas, TX
REALTOR®, Broker

In this market I would have set those expectations before we started looking at houses.

Sep 26, 2017 05:20 AM
Rainmaker
1,263,312
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'd discuss with them the likelihood of the offer being rejected and where I believe they should come in.  In the end, it's their money and stranger things have happened.

Sep 26, 2017 08:52 AM
Rainmaker
2,826,511
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

This might sound crazy ... in my market these days ... I make the recommendation of offer price and 99.9% of the time the clients agree to it. On rare occasion a client may go higher. 

I always run a CMA ... talk with the listing agent etc. 

As for writing low ball offer ....

 

Sep 26, 2017 07:29 AM
Rainmaker
2,485,019
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If the client relationship hasn't already discussed this when first meeting then something is wrong with the relationship itself. That team wont score

Sep 26, 2017 06:50 AM
Rainmaker
3,426,151
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

The short answer is both but...and it's a big but...

It depends.   On the particular client.  On the property.   Other factors.  

The typical routine is to share comparable sales with a buyer prior to writing an offer but this is preceded by a discussion about market conditions and their goals.   

 

Sep 26, 2017 05:50 AM
Rainmaker
3,050,482
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Always, and i also find out if there is any other offers, and in a market with a shortage of listings and lots of buyers, the chance of a low ball offer being accepted, is as low as winning powerball or getting hit by lightning

Sep 26, 2017 05:24 AM
Ambassador
4,367,333
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I got a half price offer a few weeks ago, rather than counter I ran a cma, sent it to the other agent and suggested that they share it with their client.

Sep 26, 2017 01:51 PM
Rainmaker
4,572,886
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nathan,

We think that both Wayne Martin and Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 make the case perfectly.  A

Sep 26, 2017 10:34 AM
Rainmaker
777,442
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Yes, CMA for sure and then submit. Sometimes it takes losing an offer or two before they believe it. Is the buyer an investor or buying to live in? What is considered low ball?. I will never forget two stories my dad told me when I first got my license. The first was about putting in a low ball offer. Buyer wanted to submit $50k low. Dad said no way it would be accepted but he wrote and submitted. Offer accepted no counter. Seller just wanted it sold. I have since written a handful of offers that I was certain wouldn't be accepted and surprisingly they were. The other story was about a seller, will tell it some other time because this already got too long. Of course there are many factors and at a point it can be a waste of time, unrealistic and unreasonable, but we never really know what a buyer or seller will do until it is done. -Kasey

Sep 26, 2017 07:10 AM
Rainmaker
300,943
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

I would run the CMA, but also tell them the ramifications of insulting the Seller; They may not get a counter offer and maybe flat out rejected. If the offer is ridiculous I would also suggest doing an LOI instead of writing a full blown offer

Sep 26, 2017 07:05 AM
Rainmaker
1,384,127
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Nathan Gesner Always run a CMA first to have a base line. If they are insistent, I would present the offer.

Sep 26, 2017 07:01 AM
Ambassador
4,069,334
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I would discuss the CMA and market conditions first but present the offer if they still feel it's what they want to do.

Sep 26, 2017 06:21 AM
Rainmaker
5,119,392
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Do Both....

Sep 26, 2017 05:19 AM
Ambassador
1,655,951
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

We try the CMA route first.

Sep 26, 2017 05:15 AM
Rainmaker
4,432,467
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I do the CMA  before they make the offer.

Sep 27, 2017 03:51 AM
Ambassador
4,301,228
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Nathan Gesner - I run the report to give them an idea where they should be. And it is up to them to decide what to write.

Sep 26, 2017 10:21 PM
Ambassador
3,983,674
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I provide full service for my clients and a CMA is part of that.

Sep 26, 2017 08:01 PM
Rainer
147,408
Dr. Karen Lewis, Broker 305-3231556
K1 Realty Group - Pembroke Pines, FL
Residential for Sellers and Buyers in S. Broward

I would submit.

Sep 26, 2017 06:33 PM
Rainmaker
3,983,713
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I will try to reason with them and then submit the offer

Sep 26, 2017 05:18 PM
Ambassador
917,837
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

always show CMA and don't have the time to play games. 

Sep 26, 2017 02:40 PM
Rainmaker
503,956
Steven Nickens
Elite Pacific Properties Maui - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

If I am working with a buyer and they like an overpriced property that has been on the market over 90 days, it's time to dance. Just closed an overpriced listing yesterday, timing is everything, my buyers are happy.

Sep 26, 2017 01:12 PM
Rainer
198,607
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

I agree with the other comments noted, but would certainly agree that you should run a CMA.  Thereafter, submit the offer that is agreed upon.  If rejected outright, you will sell them on the most reasonable offer.  You can decide if you want to represent them thereafter; if they are not cooperating.  Good luck!

Sep 26, 2017 12:24 PM
Rainmaker
854,616
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I do a CMA on every property before writing an offer

Sep 26, 2017 12:24 PM
Ambassador
2,363,840
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

What Eve said, and what Teri said.

 Teri Pacitto  

Mike & Eve Alexander 

Sep 26, 2017 12:02 PM
Rainmaker
3,211,984
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Of course, I do a CMA. I do a CMA everytime a client wants to make an offer regardless of the price they want to offer.

Sep 26, 2017 08:39 AM
Rainmaker
1,020,086
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Technology allows us to whip up an offer in minutes if not seconds. I've had some pretty rough ones pass muster. #1 tip, get as much money as possible for their initial deposit if they're truly in it to win it. If they lose out at least you'll know that they not afraid to sign that check.

Sep 26, 2017 07:21 AM
Ambassador
3,442,675
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Absolutely both. I ask them how much they like the house, how many boxes it checks off and what they think their chances are of submitting a lowball Offer on a property in a community that typically garners 100% list-to-sales price!

Most of the time, they GET it but, if they insist on presenting a low-ball Offer, of COURSE I will present it. Sometimes it takes losing one to get their attention!

Sep 26, 2017 07:07 AM
Rainmaker
4,797,822
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I will advise them of the risks and if they insist, I will submit it.

Sep 26, 2017 06:03 AM
Rainmaker
758,732
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I explain the risks and the possibility of them losing all chances of getting the house. I've had sellers crunch up low ball offers, then give me instructions to tell the agent the offer is rejected, and don't bring that effin idiot buyer back onto my property for any reason.

Sep 26, 2017 06:01 AM
Rainmaker
5,502,856
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Explain the issues and submit the offer.

Sep 26, 2017 05:56 AM
Rainmaker
780,753
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I roll with the client UNTIL the 'sold' results come in.

Then it is no longer my voice or opinion but the market place saying "snowballs do not fare well in Florida."

If they are still hoping to catch the 60% discount boat that left the pier in 2007, I advise a different strategy must be used. Their current paperhanging strategy comes with a $60 a pop fee.

Sep 26, 2017 05:54 AM
Rainer
44,691
Dan Capra
LAER Realty Partners - Lowell, MA
Listing/Buyer Agent

Yes. And I would let them know that there chances of getting the property are low. Another thing I will say is "Are you okay if you do not get this property?" Once they get all of the info, I let them decide if they want to proceed or raise their offer.

Sep 26, 2017 05:53 AM
Rainmaker
525,754
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Definitely run a CMA. In a seller's market some sellers think they can name any price. If the list price is unreasonably high, then the "lowball" offer may actually be the true market value.

 

Nov 13, 2017 05:34 PM
Rainmaker
3,242,196
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I always still do a CMA but will write up what they want.

 

Sep 29, 2017 10:35 AM
Rainmaker
4,160,424
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I ALWAYS do a CMA before a buyer writes an offer, and if it is unreasonable, be sure to point that out, especially if they really like the property.

Sep 28, 2017 05:38 AM
Rainmaker
529,540
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

And then the buyers agent is BEGGING the listing agent to at least counter so they don't look foolish in front of their demanding client. Have one agent who then argues with me, hoping I will get my seller to come down to their ridiculous price. Sorry, with oceanfront homes it's all about LOCATION  and VIEW.

Sep 27, 2017 03:59 PM