Check Your Emotions at the Door when entering the Atlanta Real Estate Market



atlbg-300x225 Check Your Emotions at the Door when entering the Atlanta Real Estate Market


It’s Not Personal, It’s just Business

There are many cities around the country where there is a considerable amount of residential inventory for a potential investment buyer to sift through. The metro Atlanta area is certainly no exception to this rule. When investors are pursuing opportunities in Atlanta real estate, they will often make an offer that is way below what the seller had anticipated. It is the adverse play that car salesmen use when quoting prices on a car. The term “peel them off the ceiling” is used in the car business when a salesman initially quotes a substantially higher price than what a buyer should be willing to pay. The desired effect is the prospective buyer gets so mad they “hit the ceiling”. After the buyer calms down, a reduction in the price tends to look more reasonable than the initial quoted price. The “low ball” offer is designed to “pick them off the floor” a increase in the offer price tends to look more reasonable after the seller calms down. In some cases a true “low ball” offer is used to quickly establish a floor in the price that is acceptable to the seller. It is easy to understand that some property owners and their agents could be offended or at least mildly perturbed when they receive  a offer is so low that its “offensive”.

Low Offers Are Opportunities

Some sellers and their agents refuse to counter a low offer. I have heard  people say “we did not like that offer, will the buyer submit another one?” or “we are so far apart that we could never come to acceptable terms”. In my opinion this is not the best way to handle this situation. It takes just a few minutes to fill out the paperwork that is required to counter an offer. What do you have to lose? If you do not take the time and effort to counter the offer, the prospective buyer will likely move on to the next property and you may never get another chance to negotiate with them again. Sellers need to realize that many investment buyers have as much emotional attachment to their money as the sellers do to their property. Set the emotions aside and simply counter the offer. At least you won’t stay awake at night wondering if they would have paid more to purchase the property than was initially offered.

Call me today to begin your search for Atlanta real estate.

Viewing 5 Comments

 

Trackbacks

(Trackback URL)

close Reblog this comment
blog comments powered by Disqus
REtechSouth Atlanta 2008

Home Search

Join the Conversation