Attention investors Don't be this guy.

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes

Just got off the phone with another Realtor who showed one of my homes. Her clients gave me an offer that was 25% of the list price.

Please folks Don't be that guy. Show some respect for others & their time. This poor lady had to waste an afternoon driving this schmuck around.

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J ScottPro Member

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Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes

12y

Verbally counter back at $1000 higher than his offer. Let him get all excited and have his agent write up a formal counter at the new price. Then tell him you changed your mind, but you'll do it for $3000 more than that. Let him have his agent write up a new counter. Then tell him you changed your mind again. See how many offers you can get him to write before he gets pissed and walks away...

My record is 3...

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Troy Fisher
Specialist · Kirkland, WA · Member since 2013 · 1k+ posts · 817 votes
12y
I'll buy it 25.5%!
8 Reply
Jon Klaus
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
12y
Onlly 9,999 more offers to get a yes.
5 Reply
James Wise
OP
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
12y
One of these days he's going to discover BP
He will be one of the guys starting threads like this
"Why are Realtors so lazy, none of them answer the phone"
"Investor looking for a HUNGRY Realtor"
"Can't get Realtors to show me properties"
12 Reply
Rob K.
Investor · Southeast, MI · Member since 2012 · 2k+ posts · 1k+ votes
12y
I've had offers like that where you're asking $100K for a house and they offer $30K, or something equally stupid. I always counter to $3,000,000 with a non refundable deposit of $50K. It takes 30 seconds and lets the other agent and buyer both know what idiots they are.
19 Reply
James Wise
OP
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
12y
Originally posted by @Rob K.:

I've had offers like that where you're asking $100K for a house and they offer $30K, or something equally stupid. I always counter to $3,000,000 with a non refundable deposit of $50K. It takes 30 seconds and lets the other agent and buyer both know what idiots they are.
I dig it. I think im going to have to start utilizing that strategy.
3 Reply
Account Closed
Real Estate Investor · Marysville, OH · Member since 2014 · 242 posts · 196 votes
12y
That's awesome. :)
1 Reply
Troy Fisher
Specialist · Kirkland, WA · Member since 2013 · 1k+ posts · 817 votes
12y
Well @James Wise

Is that the best you can do? I mean come on help me out a bit? Is that really your bottom price?
2 Reply
Rob K.
Investor · Southeast, MI · Member since 2012 · 2k+ posts · 1k+ votes
12y
Originally posted by @James Wise:

One of these days he's going to discover BP
He will be one of the guys starting threads like this
"Why are Realtors so lazy, none of them answer the phone"
"Investor looking for a HUNGRY Realtor"
"Can't get Realtors to show me properties"
Ha! I hate those threads.
1 Reply
Richard C.
Bedford, NH · Member since 2012 · 2k+ posts · 1k+ votes
12y
But my guru told me I would need to make 100 offers to find a deal, and that if my offer didn't embarrass me it was too high. This must be good advice, because it cost me my entire life savings of $1,287 and 26 cents, plus large cash advances on my credit cards.
10 Reply
Jeff Rabinowitz
Investor/Landlord · Farmington Hills, MI · Member since 2011 · 1k+ posts · 1k+ votes
12y
@James Wise, I would contend the realtard wasted her own time. If she doesn't have a way to screen (screen out) her clients that is her own fault. Yes, the guy is a jerk but it should have been fairly easy to determine that without wasting much time.
3 Reply
James Wise
OP
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
12y
@Account Closed I think this thread needs some imagery
2 Reply
Account Closed
Homeowner · Pittsburgh, PA · Member since 2014 · 854 posts · 511 votes
12y
Originally posted by @James Wise:

@Account Closed I think this thread needs some imagery
Thanks for the mention James. Thanks to my imagery, I am currently on the voting system Leaderboard. :-)
7 Reply
Account Closed
Homeowner · Pittsburgh, PA · Member since 2014 · 854 posts · 511 votes
12y
2 Reply
David C.
Investor · Bay Area, CA · Member since 2014 · 207 posts · 190 votes
12y
Ain't Nobody Got Time for That!
http://youtu.be/bFEoMO0pc7k?t=4s
3 Reply
David C.
Investor · Bay Area, CA · Member since 2014 · 207 posts · 190 votes
12y
Whenever I see BS offers & inquiries, this song plays in my head.
1 Reply
Account Closed
Homeowner · Pittsburgh, PA · Member since 2014 · 854 posts · 511 votes
12y
Originally posted by @David C.:

Ain't Nobody Got Time for That!
http://youtu.be/bFEoMO0pc7k?t=4s
5 Reply
Pat Martin
Knoxville, TN · Member since 2014 · 116 posts · 57 votes
12y
Is this for real? A real estate investing forum dogging on someone for making a lowball offer??? Pretty sure thats what I do everyday.
10 Reply
J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 18k+ posts · 17k+ votes
12y
Verbally counter back at $1000 higher than his offer. Let him get all excited and have his agent write up a formal counter at the new price. Then tell him you changed your mind, but you'll do it for $3000 more than that. Let him have his agent write up a new counter. Then tell him you changed your mind again. See how many offers you can get him to write before he gets pissed and walks away...
My record is 3...
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21 Reply
John H.
Massachusetts, MA · Member since 2009 · 144 posts · 31 votes
12y
<------- is that guy. (and proud of it)
2 Reply
Account Closed
Investor · Sunnyside, NY · Member since 2014 · 356 posts · 114 votes
12y
@J Scott
you made me snort milk through my nose.
But listen, I'm an investor and not someone buying my forever home. I don't think I'd have the nerve to make such a low ball offer but the approach I used on a recent purchase was to go in a bit lower than I suppose the seller was hoping for. I was very respectful in explaining why I got to the number I did. I told them I totally understood that my offer was not their first choice but that I was offering all cash and closing in less than 30 days. Their apartment had just come on the market and I was sure they wanted to wait and see if better offers would come along, etc. Then I was patient and it took about 6 weeks but the guy saw the value in my offer and now I'm busting my *** to make sure that the closing happens. Should all be done in another week or so.
1 Reply
James Wise
OP
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
12y
@Pat Martin @John H. Are both of you licensed yourself? Writing your own offers?
I do not take issue with someone who's licensed shot gunning crazy offers all around town. I think it's prolly a waste of time but if you can pull in a deal every now and again more power to ya.
I take issue with this person wasting the time of his Realtor. Treating her as tho her time is worthless.
2 Reply
Daren H.
Real Estate Investor · Desoto, TX · Member since 2013 · 560 posts · 528 votes
12y
While that seems outrageous, it is kind of ironic that a lot of investors here on BP (and the Gurus) are always saying if you are not embarrassed by your offer, it is probably too high. I bet most investors on this forum make outrageous low ball offers all the time. Can't be offended when it happens to investors. As for the Realtor, we live and we learn. He/She contributed to their own waist of time.
0 Reply
James Wise
OP
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
12y
Originally posted by @J Scott:

Verbally counter back at $1000 higher than his offer. Let him get all excited and have his agent write up a formal counter at the new price. Then tell him you changed your mind, but you'll do it for $3000 more than that. Let him have his agent write up a new counter. Then tell him you changed your mind again. See how many offers you can get him to write before he gets pissed and walks away...
My record is 3...
While that is funny & I like we're your going with it. Just like Rob's comment I'm not offended by his ridiculous offer. It doesn't waste my time that's why I offer a co-broke
I don't blame the agent I feel for her & don't want to bust her chops b/c some knucklehead has told her he's a big time investor and now he's running her ragged until she realises he's a bum & he finds some other poor agent to abuse.
0 Reply
James Wise
OP
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
12y
Originally posted by @Daren H.:
While that seems outrageous, it is kind of ironic that a lot of investors here on BP (and the Gurus) are always saying if you are not embarrassed by your offer, it is probably too high. I bet most investors on this forum make outrageous low ball offers all the time. Can't be offended when it happens to investors. As for the Realtor, we live and we learn. He/She contributed to their own waist of time.
Again. I don't have a problem with his offer. I have a problem with his lack of respect for Realtors.
my thing is
If your writing offers that your "embarressed of" you should have your own license so you are not wasting other people's time.
2 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
12y
@J Scott
Oh J your mean... between Aaron kicking out tenants for sport and this whats a poor wood be investor to think.
I know as a RE broker I just flat would not work with investors that came form the guru seminars ...
If one wants to make 100 offers a week hire someone to write them for you don't count on some agent to do it.. not a good use of their time
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