Making Real Estate Decisions
“My wife and I are interested in some real estate in Florida. It has an asking price of $10.5 million. We want to offer $9 million because the home has been on the market for a long time. Should we make a low offer? Does it hurt our chances of getting the home?”
The question of “low offers” comes up often in the real estate business, so let’s address it now.
First, when anyone in our office signs a realtor’s agreement with a client, we are working for that client. We are obligated to pass on any offer our client wants to make. We are also obligated to provide our clients with as much information as possible about the home and market. We give them the information so that they can make an informed decision, and then we relay their decision to the home sellers. That is our job!
Secondly, in my opinion, everything in a real estate transaction is negotiable. A real estate transaction is a give and take proposition by its very nature. There should be no place in the transaction for egos or hurt feelings. If a buyer wants to make a low offer, so be it. The seller is perfectly within his/her rights to counter with a higher price or simply say “no thanks.”
So, knowing nothing else about the above situation, the answer is a clear YES! Of course you should make the offer. The worst thing that can happen is the seller will say no, in which case you can make a higher offer or move on to another property.
When you are facing a transaction that involves millions of dollars, don’t you think it would be best to work with a professional real estate agent who has your best interests at heart?
Sports Relocation, Inc. Sports Relocation, Inc assist players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.