Interesting post on TexasRealEstate.com:
When I represent sellers, I provide in-depth market analysis and pricing consultation — before accepting the listing, with regular updates while the home is on the market, and again to help with consideration of purchase offers. When I represent buyers, I provide in-depth consultation on property value before writing purchase offers. In both cases, most clients appreciate the work and knowledgeable advice. Some acknowledge the advice and choose to ignore it.
Just as some sellers insist on overpricing their homes, some buyers insist on “going low,” at least as a starting point. I generally choose not to take unrealistically priced listings, and I avoid representing “bottom feeder” buyers who assume that all sellers are just gold-diggers. However, when I have a buyer who wants to offer something close to realistic market value for a badly overpriced listing, I am happy to write that offer. In the Austin/Central Texas market, it’s up to the listing agent to present that offer and provide professional advice and counsel to his or her client.
As the TexasRealEstate.com article notes, sellers can feel insulted by a low offer. There’s an old saying in this business: “Don’t get mad at them. They’re the ones that want to buy your home. Instead, get mad at all those people who saw the house and didn’t even make offers.” That’s not just being cute. It’s good advice.
When selling your home, accept the fact that some buyers just won’t make a strong first offer, but will negotiate reasonably. Others won’t budge. If you don’t respond, you’ll never know which is which. Even if you don’t send a counteroffer, just an invitation for a new offer, supported by well-researched market information, is better than just getting mad.
Keep in mind: To you your house is a home. To the buyer it’s still just a house, and there are a lot of those to choose from.