Do I Give Them A Peek?

My buyers are often concerned about seeming EAGER.  Namely, if we send them more than a binder (proof of funds, narrative, personal story, even a follow-up call at all), it will seem like we are DESPERATE for the house.

It’s important to split discussions of communications with a seller into three parts.

FIRST, you want to decide on an offer.  You’ll want to look at macro issues (comps, etc.) and micro issues (how busy was the open house, how much do YOU want the house?).  You always want to make your offer worthy of a reply.  Everyone wants a house at half price (see the name of this blog!), but in the real world, low ball offers waste the seller’s time.

SECOND, you want to decide on your language ABOUT that offer.  For example, are you going to communicate that you have “a little room?” Are you going to say that this is “best and final?” There is an element of gamesmanship here, of course.  You should be sure you’re willing to live with the consequences if you use strong language and then lose the house.  For example: if you say “best and final,” but would actually have paid $50K more if they came back to you, you’ve set up a dichotomy.  Either you’ll get the house at a great price, or you won’t get it at all.  If that is a risk you are willing to take, use that strong language.

THIRD, you choose what ADDITIONAL information to give.  Here, you want to show anything that presents you in a positive light.  Do you have a million dollars in a savings account? Did you sell your string of dry cleaning businesses? Are you moving to be near your grandkids? Anything that tends to make you seem STABLE and COMMITTED to this deal helps.  Conversely, assume the seller will assume the worst about anything you do not tell them.

No deal falls apart because both sides want it too much.

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