This is one of those posts Real Estate agents never want to see. Neither Listing, or Buyer’s agent want to deal with a low offer on a property. It’s hard to negotiate any contract with professional, business people. Home buyers, and sellers also have emotional attachments to the home buying process. This is a big step.
The fact is that we are in a declining Real Estate market. This has been a long term decline that looks like it will continue for another couple of years. Rather than wait for a seller to lower a price to where you would want to buy, you can make an offer.
The etiquette of making a low offer is to make a reasoned offer based on tangible facts about the economy. I’m throwing that in there because many people want to use the fact they can’t afford a property as a rational for making a low ball offer.
I use the market trends, and where the market is headed as a starting point. It helps to have well qualified buyers who have financing approval. It’s always good to have likable buyers, but really it’s also important to have distance.
I’m going to make a leap that this post would be read by principles in a Real Estate transaction rather than agents.
We are in a difficult market place. Many of the old rules of how business was conducted even a few months ago no longer apply. It’s important to make the best of any transaction. Keep in mind that both buyers, and sellers are making sacrifices. Make your concessions in good faith.
About David Losh
In 1984 I got my Real Estate license and worked in a small company called Advance Properties. The owner was extremely interested in Real Estate, building, and land development. Most of his work was concentrated North of Seattle. Since the 1970s I had worked for Real Estate agents in Seattle as a contractor, mostly preparing properties for rent, and sale.
After a few years my skill level increased considerably concerning land use, building code, and development practices. Escrow, and lending offices were housed at the Advance Properties building so it was easy to get involved in all aspects of Real Estate. It was very much a family owned, and operated business.
Over the years my Real Estate license has been at a variety of Real Estate companies, and offices. Nothing compares to those early years, or that sense of family. Real Estate has gotten to be corporate owned.
My hope with this blog is to share with you some of the things I've learned. If you have Real Estate needs, or want contractor help, I refer freely to what best suits you. If you should choose to work with me you'll find a great resource.
My Real Estate license is at Skyline Properties in Northgate. Skyline is a locally owned company that is a desk fee office. There is a wide variety of diverse agents. It helps me with some of the other projects that I have, and mentoring that I do, to be able to work with people from other cultures.
Here in Seattle we are close to Vancouver BC and are the gateway to China. Boeing has a great trade relationship with China, as does Microsoft have with all of Asia. We are a culturally diverse community, and it helps me to be invlolved.
