BiggerPockets

In a search for my own property I finally got one under contract. It's a short sale and they've got 30 days to get the lien holder approval (they actually advertised it as pre-negotiated, but wanted 90 days for this).

In the meantime, I want to keep searching and making offers on properties.

My Realtor doesn't seem to be inclined to make official low ball offers - his reasoning is that it's "insulting" to the seller's agent and wastes everyone's time. This is a conversation we had over the phone yesterday:
Me: I don't want to waste your time and money by driving out and looking at all these properties, considering we already got one under contract. I still want to keep looking though, that's why I want to make some lowball offers on other properties.
Him: that's fine, but sending an email message saying "my client wants to offer $50k less than you're asking - how do you feel about that - should we even submit an official offer?" is far more effective than straight out shooting an official offer for a lowball price. Otherwise the agent will think "what are you stupid - why are you wasting my time with this"?

Any advice? Is he trying to save himself from doing extra work? As far as I know, an official offer MUST be passed onto the owner, whereas a lowball "email" offer doesn't have to be.

Thanks!

You need a different realtor!

It's obvious your Realtor is more concerned with commission.

Offer what you know is a good price to purchase the home. Your Realtor is supposed to be on your team NOT the listing agents team.

I second what Nick said. It really sounds like he's looking out for himself. Who gives a _______ what the seller's agent thinks. His job is to represent his client and they will either counter, accept, or tell you to pound sand, which leaves you no differently than where you are at.

Email offers are useless because it's not a legal offer. A legal offer has to be considered even if the consideration is to say no. I would find someone a little hungrier. Also, you might want to think about doing more of the legwork yourself to alleviate the costs if you are going to be low balling.

Originally posted by Ivan Jouikov

If we end up buying a place with the 2nd realtor - the 1st realtor will probably never want to work with me again...

who cares! It's your primary residence. If you don't like the realtor, then fire him/her.

I'm not a complete realtor hater/basher because I actually do love them(the good ones) but you have to look out for yourself and not worry about them especially when it comes to your personal residence.

Get someone who is newer and hungrier (RE agent)..period and is not opposed to making several offers. It's a numbers game.

I always loved that "insult" comeback.

Tell your Realtor "That's not an insult that's just a number, if I call you fat and ugly, that's an insult !!! Now please put the offer in or I will find another agent"

and yes I do know someone who used that........ :D

In many states, especially if you have paper with them before making offers, the agent is required to submit your offer, no matter how "stupid" it makes you look. The only reason they would not do so if there was a pre-existing condition from the seller that says not to accept offers lower than a certain amount. If that condition doesn't exist your agent could be breaking several agency rules and could be fined for his/her conduct.

Outside of that, I'm sure there are hundreds of hungrier agents in your area that would be happy to get your business.

First of all that agent is required to submit your offer to the seller period! With that said; As a Exclusive Buyer Agent/Investor I can attest to the fact that short sales are a pain in the butt! I know which lenders I can work with and which ones I can't-meaning if the offer needs financing (You the buyer) then you need to be close to appraised value, especially with the big lender, BofA/Countrywide, Wells Fargo etc, otherwise your offer is dead upon arrival. A Cash deal, on the other hand, will go to the top of the pile. Unless my client/Investor insists on that Short Sale Property, I'll pass-thank you very much. Too much hassle, Too much work, not to mention, I can negotiate a better price and/or great terms with a FSBO property.

Originally posted by Jon Frame

I always loved that "insult" comeback.

Tell your Realtor "That's not an insult that's just a number, if I call you fat and ugly, that's an insult !!! Now please put the offer in or I will find another agent"

and yes I do know someone who used that........ :D

These are just great responses from the group. :mrgreen:

Here is one from me:

Ever hear the saying, ( you can lead a horse to water but you can"t make him drink ) ???

Then what do you do? ( find a thirsty horse ). :lol: