The Low Ball Offer: A Real Estate Agent's Worst Nightmare
Well, friends, let’s talk about a situation that’s all too familiar in the world of luxury real estate: the dreaded low-ball offer. It’s the one where a buyer thinks they’re negotiating a deal of the century—except, they’re not. They’re just being, well, ridiculous. Case in point: last week, I received a shockingly low offer on a luxury home listed under $1.7 million, and it was so off the mark I almost had to check if I was reading it correctly.
Let me paint the picture for you. The sellers have invested over $1.7 million into this home. This isn’t just a house; it’s a meticulously maintained, luxury masterpiece—the kind of home that makes you want to grab a glass of wine and settle in front of a roaring fireplace, feeling like royalty. We’re talking 10+ quality in every square inch. The kind of place you get lost in—except in a good way, not the “I can’t find the kitchen” kind of way.
And then, out of nowhere, I get a low-ball offer that is so low it’s practically digging a hole in the ground. $500,000 below list price. Wait, what? And just to add insult to injury, the buyers not only want the price slashed, but they also want additional acreage (that’s right—free land next door) to be included in the deal.
I’ll give you a moment to process that.
It’s as though they’ve mistaken luxury real estate for the yard sale section of Craigslist. “Oh, I see this house is listed at $1.7 million, but I’m thinking more along the lines of $1.2 million—and I’ll take the neighbor’s lawn mower too.” The audacity!
Look, I get it. Buyers want a deal. We’ve all been there—hunting for a bargain like it’s Black Friday and hoping we can score something for 90% off. But here’s the thing: this tactic does not work in luxury real estate. At least, it shouldn’t. Luxury homes come with high-end amenities, custom finishes, and a level of quality that your average home just can’t match. These are homes that were built with top-of-the-line materials, impeccable design, and years of attention to detail. A low-ball offer just doesn’t take any of that into account.
Let’s be real here: submitting an offer like this is not only offensive to the sellers, but also downright unprofessional. It’s like showing up to a gourmet restaurant, asking for a discount, and then demanding a side of the chef’s special for free. Luxury homeowners know their worth, and they aren’t about to sell their high-end property for a fraction of its value just because someone didn’t do their homework.
And here’s a tip for all the buyers and agents out there: Do your homework! If you’re going to submit an offer on a luxury home, understand that these aren’t typical properties. These homes have unique qualities that make them stand out: expansive floor plans, top-tier appliances, custom-built interiors, and, often, prime locations. They’re one-of-a-kind, and their value is supported by much more than square footage and a few nice pictures.
In this particular case, the sellers verbally rejected the offer (no surprise there) after I called them to discuss it. And honestly? That’s the best decision they could have made. You can’t let these low-ball offers dictate the value of a property that’s been so lovingly maintained and upgraded.
Now, here’s the thing to remember: Keep it fair, and keep it a win-win for everyone involved. Most sellers will counter back higher than normal if an offer is really low. It’s part of the game, and as long as all parties are respectful, we can usually find a middle ground. But submitting offers that are so far below asking doesn’t just waste time—it disrupts the entire process. Let’s treat each other with the respect we all deserve, and make sure that when we negotiate, we’re doing so with professionalism and fairness.
So, if you’re an agent, or a buyer for that matter, next time you’re looking to make an offer on a luxury home, remember: respect the property, do your research, and don’t insult the seller. Luxury homes are a different ball game. The buyers who understand that will be the ones who get the deal—just not for $500,000 below the list price.
Now, let’s all take a collective deep breath and hope that in the future, we can keep the offers more in line with reality—because my sellers and I have no time for these “dreamer” offers. Time to move on to the real buyers who know a good thing when they see it.
And, as always, if you need help navigating the luxury real estate world (or just want to commiserate over crazy low-ball offers), I’m your guy. Happy (and professional) real estate hunting!
Wyatt Poindexter - The Agency - 405-417-5466 - [email protected]
