We are selling our listed properties and our marketing programs are working in a big way for our seller clients. We just closed on a 3 bedroom villa on the Island that had been listed with 4 previous agents before the seller came to us to get the job done.
An agent called the other day and presented an offer 70% off the adjusted asking price. We understood the buyer(agent) was trying to negotiate with the seller….but it seemed to me the agent really set their buyer up for disappointment. The first thing that popped into mind was “Do they really want to buy this home?” and “Who really came up with this price?” Typically when a buyer makes an offer this low, it usually means they do not understand the present real estate market and it is our job as professionals to move them closer to reality. Usually buyers need more information and will proceed if we better manage their expectations. Our recent market trends reports helps our sellers and buyers better understand the Hilton Head Real Estate market and sets them up for success. In this case, similar properties were selling for 11% on average off the listing price. So how did this buyer determine offering 70% less?
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