Laura, you did not mention how long the property had been on the market. Sounds like the sellers agent was working for the seller as he should and you were working for the buyer as you should. A very low offer is sometimes not taken seriously. I am for negotiating even if it is a low offer as everyone wants a deal. I am thinking if it has not been on the market very long there might be less chance to get the seller to take an offer 13k under list. Good news is they countered so I would tell my buyers if they want that property to make their best offer. The comp might have had special circumstances and might have been on the market longer and thus more negotiable. Check more comps to get the big picture.

As far as the agent being condescending, it may just be how he is.

So, if I did the math correctly the SELLER and the BUYER are $7000 apart.

1.  Take yourself and the listing agent out of the equation entirely.

2.  In talking to the listing agent, become 'partners' in helping the SELLER and BUYER reach an agreeable price. Do not allow the $7K to become a negative thing, instead 'think' in these terms:

"This is FANTASTIC.  There is a SELLER WHO WANTS TO SELL and there is a buyer that WANTS TO BUY and they are only $7K apart.  Would the seller really want to lose out on a buyer over $3500 and would the buyer really want to lose out on the home they want over $3500?  I doubt it.

You have a win-win situation... WONDERFUL!

Sometimes it is all in the 'presentation'... not the numbers.  

Good luck!

Laura,

I agree with Tim & Susan.  Especially if, as you say, the house is worth it.  How much will the additional money cost your buyers on a monthly basis over the course of their mortgage?  In many cases, it may be minimal.  Are they willing to lose a house they love for that monthly increase in mortgage payment over 30 years?

You also may not know if there were extenuating circumstances causing the sellers of your comp to accept what they did.  There may have been concessions.

Good Luck!

How many homes have your clients looked at?  If they haven't seen too many homes they will not feel they are educated enough on the market to make a decision.  If they have seen alot of properties and this is "the one", perhaps they should move forward.  I would totally ignore the condescending agent and work for your clients, as you have been doing.  If your clients want to counter again, than just do it.  As Tim & Susan said, it doesn't make sense for them not to come to terms over $3,500 if this is definitely the home your clients want.

It looks to me like the difference was only $6,000 rather than $7,000 but that is not the point. You were not far apart. Have you shown your buyers what little difference this would make in terms of monthly payments?

I like the time worn, "Mr/Ms Seller would you pay $249,000 for this home?"  When they say no, gently suggest that they just did, when they failed to accept your offer.

This technique requires that you present your own offer, which I beleive in this case would be a good move.... Good luck

Corie's right, the condesending agent may not act the same way if you were to present the offer in person to the sellers. Good idea. I will bet you dollars to donuts (if I was a betting man) that you have a sale. Plus don't tell them it is an offer, tell them this is a sale.

I also believe .

Exactly, Bill!  That is part of the 'presentation'...  By presenting it as only $7000 apart, someone is going to point out the discrepancy.  And how will they say it?  "No, it's REALLY ONLY $6,000!"

BINGO!  You have essentially removed the asking price, the offer and any/all counter offers to a mere $3,000 per side.  That's peanuts.

"Can we go ahead and get this on paper so that everyone can be happy and move forward?"  Great!

I like the would you buy this home for $249,000? Good call Corie!

When I have been in similar circumstances I do use the comps. I agree with what was said above, I feel you need 3 comps not just the one. If the comps come out in your buyers favor, send them to the listing agent and tell them this is what my buyer is basing their price on to share with the seller. Then if he has comps to support his value you can share those with your buyer.

It will probably come out in the middle as mentioned above, the low comps the high comps put together.

Good luck!

If the Seller's are not willing to sell it for  $ _________ that essentially means they just "bought" it at that price and are gambling that they can sell it for a higher price.  Factor in the additional market time and probably not worth the hassle to hold out.

That's just one angle, Good Luck !

An excellent point to present the offer to the sellers instead of merely faxing or emailing a pdf. Nice negotiating skills displayed as well.

Some good stuff here!

How long has the house been listed, and what is the average days on market in your area?

Not that this will help, but I find it interesting...

Your clients offered roughly 5% below list. In Mary's market, that's a "very low offer". In our couurent market, that's a pretty strong offer! It's interesting to me how different markets can be.

You are all so convincing, theres nothing left for me to do but sign on the dotted line.   Sounds like the agents need to go have a cup of coffee together and work it out.  You might remind your purchaser that as long as negotiations continue they are open to other offers.  

I agree with Tim & Susan, although I suspect it is more Susan.  Take the personalities out of the equation and put the business in it.  Now that is often hard to do, but do it anyway.  You will find that all parties have the same exact goal.  

Also it is crucial to present your own offer. You are representing your buyer and "you can't spell Represent with out present."  

Lastly, I don't use the old meet in the middle or we are only x dollars apart.  I use the emotions.  Normally by this part of a transaction, you should know why the sellers are moving.  Use that emotion.

Example:  I understand your concerns with the offer and I will most certainly speak with Mr. and Mrs. Buyer.  The last thing that I want is to see such a small difference keep them from buying and you from moving into that wonderful new house that you guys just built.  

How about I let you folks chat, I will call Mr. and Mrs. Buyer and I will make an appointment with Fred in the morning for us to get together again.  Would that be OK Mr. & Mrs. Home seller?

Notice the Verbal Judo in that phrase? Small Difference......Keep them from buying....keep you from your goal......let you folks chat....I am contacting my buyers and we will do this again tomorrow!  Would that be ok?  

Not that it really matters, since we think of ourselves as 'one' but I (Tim) write all of our blogs, comments, marketing, etc.  Susan does the real work! LOL  I don't think that she ever even reads any of these blogs... it's not 'her thing'.

Great information! You are all great negotiators!

Tim, it just seemed like something that my level headed wife would say where as I might say something like

Pud em' uuuupppppp.....Pud em' uuuuuppppp. come out and Fight like a maaaannnn

LOL... my theme song is "If I Only Had a Brain".