Three Buyers Tried to Buy Your House. You Didn’t Like Their Price, Their Terms or Their Requests. Now the Listing Is 75 Days Old and Somehow You’re Saying the Market Is Bad.
Written by Devone Richard
6
WAIT A MINUTE—DIDN’T THREE PEOPLE ALREADY TRY TO BUY YOUR HOUSE? 😂
Now we’re 75 days into the listing.
The phone isn’t ringing like it did during the first two weeks.
Showings have slowed down.
Your listing isn’t new anymore.
And now you’re frustrated.
“I don’t understand why nobody wants my house.”
Nobody?
Hold on.
WHAT HAPPENED TO THE THREE PEOPLE WHO ALREADY TRIED TO BUY IT?
Remember them?
Buyer #1 made an offer.
“That’s insulting. I’m not even responding.”
Buyer #2 made an offer and asked for closing costs.
“Absolutely not. I’m not paying their expenses.”
Buyer #3 came in $25,000 below asking.
“Tell them no. I know what my house is worth.”
Okay.
We told them no.
Now they’re gone.
And 60 days later you’re sitting at the kitchen table asking your Realtor:
“Why isn’t anybody making an offer?”
THEY DID.
YOU KEPT SAYING NO.
YOU DON’T HAVE A “NO OFFERS” PROBLEM—YOU MAY HAVE A “NO” PROBLEM
There’s a difference.
If nobody has toured the property, that’s a problem.
If buyers can’t find the listing, that’s a problem.
If the photography is terrible, that’s a problem.
If the Realtor isn’t doing their job, that’s a problem.
But if buyers are touring the house and actually writing offers, the market is talking to you.
You just don’t like what it’s saying.
That’s different.
AN OFFER ISN’T A PERSONAL COMPLIMENT.
IT’S A BUSINESS PROPOSAL.
You don’t have to accept it.
You don’t even have to like it.
But stop acting like the buyer kicked your dog because they offered less than you wanted.
😂
“THAT OFFER IS INSULTING.”
4
I hear this all the time.
“Devone, that’s insulting.”
No.
Calling your mother a bad name is insulting.
Making fun of your kids is insulting.
Somebody disrespecting your family is insulting.
OFFERING YOU $950,000 FOR A HOUSE YOU WANT $1 MILLION FOR IS A NEGOTIATION.
You know what we can do with $950,000?
Counter.
That’s why they invented the damn counteroffer.
😂
Maybe we counter at $995,000.
Maybe they come back at $965,000.
Maybe we go to $985,000.
Maybe they move to $975,000.
And maybe somewhere in the middle…
WE SELL THE HOUSE.
That’s called negotiating.
But we can’t negotiate with a buyer you refuse to talk to because your feelings got hurt.
STOP REJECTING OFFERS IN FIVE MINUTES THAT TOOK 75 DAYS TO REPLACE
This is where sellers can cost themselves money.
An offer arrives at 6:15.
By 6:20:
“No.”
Did we discuss it?
No.
Did we counter?
No.
Did we look at the buyer’s financing?
No.
Did we consider the terms?
No.
Did we calculate the actual net?
No.
Did we discuss what’s happening with competing properties?
No.
BUT WE GOT MAD REALLY FAST.
😂
Then the buyer moves on.
Thirty days later, you ask:
“Do you think we can call that first buyer back?”
Maybe.
But guess what?
They bought something else.
THE MARKET DOESN’T HAVE TO WAIT FOR YOU TO FINISH BEING OFFENDED.
“I’M NOT GIVING MY HOUSE AWAY.”
Nobody asked you to.
This phrase comes out almost every time a seller doesn’t like an offer.
Buyer asks for $10,000 in closing costs:
“I’m not giving the house away.”
Buyer offers $20,000 below asking:
“I’m not giving the house away.”
Buyer asks for repairs:
“I’m not giving the house away.”
Nobody said free.
😂
We’re negotiating a transaction worth hundreds of thousands—or millions—of dollars.
There is an enormous difference between giving your house away and making reasonable concessions to get a deal closed.
THE GOAL ISN’T TO WIN EVERY LINE OF THE CONTRACT.
THE GOAL IS TO SELL THE DAMN HOUSE.
AND STOP GETTING STUCK ON THE ASKING PRICE
6
This is another trap.
House listed at $1,000,000.
Buyer offers $970,000.
Seller immediately focuses on:
“THEY’RE $30,000 UNDER ASKING!”
Okay.
But what are the terms?
Are they well-qualified?
How much are they putting down?
Are they asking for concessions?
How long is escrow?
What’s the inspection period?
Do they have another property to sell?
How strong is the financing?
What’s your actual net?
What does the rest of the market look like?
Because sometimes a clean $970,000 offer is better than a messy $1 million offer.
PRICE MATTERS.
But price isn’t the only thing in the contract.
Good Realtors negotiate the deal, not just the headline number.
HERE’S WHERE THIS GETS PAINFUL
Let’s say your house is listed at:
$1,000,000.
Day 10, Buyer #1 offers:
$950,000.
You get mad.
“Absolutely not.”
No counter.
Buyer walks.
Day 35.
Still listed.
Day 50.
Still listed.
Day 60.
You finally agree to reduce the price:
$975,000.
Now another buyer sees the listing.
But they also see something else.
60 DAYS ON MARKET.
They know you’ve already reduced the price.
So what do they offer?
$930,000.
Now you’re furious again.
But suddenly…
That original $950,000 offer doesn’t look quite as stupid, does it?
👀
SOMETIMES THE OFFER YOU CALLED “INSULTING” ON DAY 10 IS THE OFFER YOU WISH YOU HAD ON DAY 90.
That’s real estate.
YOUR FIRST BUYER MAY HAVE BEEN YOUR BEST BUYER
This is something sellers need to understand.
The beginning of a listing is powerful.
You’re new.
You’re fresh.
Buyers are curious.
Agents are paying attention.
People who have been waiting for something like your house may immediately schedule showings.
That early buyer isn’t necessarily trying to steal your house.
They may simply be the person who has been waiting for it.
But sellers sometimes think:
“If we got an offer this fast, imagine what we’ll get next week.”
Maybe.
Or maybe you just met the best buyer you’re going to get.
AN EARLY OFFER DOESN’T AUTOMATICALLY MEAN YOU PRICED TOO LOW.
Sometimes it means you priced the property well enough to create urgency.
Don’t punish the buyer for showing up quickly.
“LET’S WAIT FOR A BETTER OFFER.”
Fine.
But understand what you’re doing.
You’re making a business decision.
You’re betting that the future buyer will be better than the buyer sitting in front of you today.
Sometimes that bet works.
Sometimes it doesn’t.
What I don’t want to hear 60 days later is:
“Why didn’t you tell me that first offer was good?”
😂
WE DID.
You just thought another buyer was coming with more money because that’s what you wanted to happen.
Hope isn’t a negotiating strategy.
AND REALTORS—STOP BEING SCARED TO COUNTER
5
Agents have responsibility here too.
Our job isn’t simply to deliver an offer and ask:
“What do you want to do?”
Explain it.
Break it down.
Show the seller the net.
Explain the strengths.
Explain the weaknesses.
Talk about the buyer.
Talk about financing.
Talk about the market.
Talk about leverage.
Talk about what happens if the buyer walks.
And when appropriate:
COUNTER THE DAMN OFFER.
Negotiation is part of the job.
A buyer coming in low doesn’t mean the transaction is dead.
Sometimes it’s just where the conversation starts.
YOU KEEP WAITING FOR THE BUYER WHO AGREES WITH YOU
This might be the real problem.
You’re waiting for the perfect buyer.
The buyer who loves everything.
Pays your full price.
Doesn’t ask for closing costs.
Doesn’t request repairs.
Doesn’t negotiate.
Doesn’t complain.
Has perfect financing.
Closes whenever you want.
And preferably tells you how lucky they feel that you allowed them to purchase your house.
😂
Good luck.
YOU KEEP WAITING FOR THE BUYER WHO AGREES WITH YOU INSTEAD OF NEGOTIATING WITH THE BUYERS WHO ACTUALLY SHOWED UP.
That’s dangerous.
Because buyers have choices too.
While you’re deciding whether their offer sufficiently respects your house…
They’re looking at the house down the street.
AN OFFER IS THE MARKET TRYING TO HAVE A CONVERSATION WITH YOU
Not every offer is good.
Let’s make that clear.
Some offers deserve to be rejected.
Some financing is weak.
Some terms are ridiculous.
Some buyers are unrealistic.
Sometimes walking away is absolutely the right decision.
But every offer isn’t garbage simply because it isn’t your number.
SOMETIMES AN OFFER IS INFORMATION.
It tells you where a buyer sees value.
Multiple offers around similar numbers tell you even more.
If you’re asking $1 million and three unrelated buyers come in around $940,000–$960,000…
You can keep saying all three buyers are wrong.
Or you can at least consider the possibility that they’re telling you something.
THE MARKET DOESN’T HAVE TO AGREE WITH YOUR ASKING PRICE JUST BECAUSE YOU PUT IT IN THE MLS.
FINAL THOUGHT
6
Sellers, I want you to get the highest price possible.
That’s the job.
I don’t want you giving your house away.
I don’t want you accepting a bad offer because you’re scared.
And I don’t want you leaving money on the table.
BUT I ALSO DON’T WANT YOUR EMOTIONS COSTING YOU A GOOD BUYER.
An offer is not an insult.
It’s not a judgment of your family.
It’s not disrespect for your house.
It’s a starting point.
Look at it.
Study it.
Understand it.
Calculate it.
And when it makes sense…
NEGOTIATE THE DAMN THING.
Because your Realtor can’t force a buyer to pay your number.
Your Realtor can’t negotiate with someone you refuse to counter.
And your Realtor can’t sell your house if every offer becomes a personal attack.
So if you’ve rejected three buyers…
Refused to counter two of them…
Turned down closing-cost requests…
Reduced the price twice…
And now you’re sitting there saying:
“I just don’t understand why nobody wants my house.”
I hate to tell you this…
PEOPLE WANTED YOUR HOUSE.
YOU JUST DIDN’T WANT THEIR OFFERS.
There’s a difference.
And if you’re reading this thinking:
“Damn…is he talking about me?”
YEAH. I MIGHT BE. 👀😂
— Devone Richard
Written by Devone Richard
Broker/Owner | OYT Real Estate
California Broker #01857383
Nevada Broker #1002115
📞 626-500-1212 | 702-941-0202
🌐 OYTRealEstate.com