I know why Sellers get offended with low offers; they are emotionally attached to their property and don’t view it as just an asset, like a commercial building might be viewed, but rather as a place where memories were made, a place where lives were lived. This emotional attachment seems to be compounded on Nantucket because, for the most part, the memories are some of the best memories of people’s lives, which causes the emotions to be more extreme. But, Sellers should not get offended by any offer because an offer is an offer. An offer may start low, but a Buyer is just testing the Seller’s motivation. That’s why no matter what the offer, unless my Seller client plans to hold out for full price, I always encourage her to counter, even if it is a nominal counter. That way, it puts the ball back in the Buyer’s court and the Buyer does not feel as if he is bidding against himself. Then, I can go back to the Buyer’s Broker and say, “That offer was way too low, but here is a counter. If your client is serious, then he better step up and give us a much stronger offer.” An offer is an opportunity. A great broker always sees an offer objectively, stays focused, keeps the client’s goal in mind, and does not let the opportunity slip away without taking a swing. There are many times when a Buyer has started low and ended up paying close to full price. Can’t hit it out of the park unless you swing.
