I received an offer for one of my listings on 118 Canyon Rock and we went back and forth with three separate counter offers – not to mention 2 verbal counters. All along we were sticking to our price of $114,950 which is $5,000 below our list price, and they (the buyers) came back with a counter offer of $114,000. So essentially, they were countering over the difference of only $950.
So my question to you is… would you counter in this scenario? I mean $950 dollars isn’t pocket change, but does it seem too petty in the big picture?
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What did I do, you ask? I put the deal together at $114,450 like a good penny-pinching matchmaker would do…
{ 2 comments… read them below or add one }
C’mon Brandon, you know buyers don’t want to pay FULL price, especially in this market. They need to “feel” like they got a deal!
It’s a pyschological thing. I’m sure they feel are happy that they finally got $500 out of you. 
Of course, if it is priced right with multiple parties interested (which usually seems to be the case with your flips), staying firm makes sense.
Ha, you’re right…I get so many low-ball offers on my flips that I try to at least tell them up front to be reasonable (with an offer) so they don’t waste their time and paper.
Just trying to be considerate and think of the environment… oh okay, I also want to milk as much money out of them as I can