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How To Counter “Low Ball Offers”
How To Counter “Low Ball Offers”
As a seller or real estate agent in the current market, it's important to be ready for low offers from buyers. It's essential to understand why buyers might make these offers. The main reason is often affordability, which is particularly challenging right now due to increased interest rates. So, when you receive a low offer, remember it's not personal. It's about what the buyer can afford. You can help them afford your home without significantly reducing your price.
Focus on the monthly payment. A buyer's aim is usually to get the lowest possible monthly payment for the mortgage they're qualified for. I've created some videos that explain the Seller Buy Down strategy. This is a method I use to help agents and sellers work with buyers to reach a monthly payment they can afford. This approach can be more cost-effective than simply accepting a much lower offer.