You have a Bottom Feeding Buyer (BFB) who is bound and determined to get a killer deal on some real estate. He's heard that there's a “buyer's market” and he wants to get himself a piece of that action even if it takes all year.

As agents, we've all been there. We've worked with BFBs who are unrealistic about the extent of the buyer's market and the depths to which sellers are willing to go to unload their properties. Perhaps they've listened to late-night seminars or their Uncle Charlie who provided “expert” advice on how to properly offer on a property (asking price MINUS repairs needed MINUS profit desired MINUS margin for risk MINUS 25%-for-good-measure) without regard for whether or not the asking price is reasonable or not.

The bottom line is they want the deal of the century and they want you to get it for them.

Let's say you find your BFB exactly what he says he's looking for. It's a well-priced home in a good location that needs just the right amount of work to satisfy his need for adding value with cosmetic upgrades. "Yay!" you both say.

You head for the offer table and the BFB wants to offer low. He wants to offer really, ridiculously, unreasonably low. What do you do? Here's the answer. You write up the offer.

Yes, you write it up as per the instructions of your client. No fussing, no arguing, or no defending the asking price. If your BFB wants your opinion of what to offer, he'll ask for it. This isn't to say you can't provide market data if he seems at all interested, but in most cases, especially early on, a BFB won't be. He wants a deal and he's certainly entitled to go after it.

Why shouldn't you try to talk him out of low-balling?

• The buyer is the boss. It's his money and he has the right to spend it (or not) the way he sees fit.

• You never know what the seller will accept. If you tried to talk your BFB “up” and the seller accepts his low offer, you're toast in the credibility department.

• The BFB hired you to be on his team. His wants are your wants.

• If you argue with your BFB over the offer price, he'll wonder if you're in cahoots with the seller or listing agent.

Of course, it's up to you to decide if you want to continue working with the Bottom Feeding Buyer. You are certainly entitled to end the relationship if it's not satisfying to you, just as he's entitled to make whatever ridiculous, unreasonable offer he wants. If you agree to help your BFB achieve his goal of acquiring some real estate at a steep discount, don't waste your own emotional energy and risk your credibility by arguing with him over his approach!

Published: September 22, 2011

Use of this article without permission is a violation of federal copyright laws.

Jennifer Allan-Hagedorn was a top producing real estate broker in Denver, Colorado before writing her first book in 2007. Since then, she has written several more books about the business of selling real estate including her flagship book: Sell with Soul: Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect, the sequel, If You're Not Having Fun Selling Real Estate, You're Not Doing it Right and her latest, to be released in Spring 2011, Prospect with Soul for Real Estate Agents. Jennifer believes that the secret of success for real estate agents is not in aggressive marketing techniques or hard-core sales pitches, but rather in being competent in one's craft. Competence begets Confidence. And in today's world of increasingly suspicious and ad-weary consumers, having an air of self-assurance and enthusiasm will be far more effective than a slick sales campaign. Jennifer writes and speaks with this philosophy in mind. She preaches that salespeople should follow the Golden Rule in their day-to-day practice of business - treating clients and prospects respectfully, as the salesperson him or herself would like to be treated. Being competent, reliable and fair, and motivated by a true desire to earn a paycheck, not just show up at closing with hand outstretched. She is a regular contributor to several real estate newsletters and magazines, a member of the RE/MAX Hall of Fame and one of the industry's most popular bloggers. You can learn more about Jennifer's "soulful" philosophies at www.SellWithSoul.com. Subscribe Below to Enroll in the Daily Seduction Newsletter Mini-Clinic - Tips and Strategies to Generate Business and Referrals From Your Sphere of Influence! Your Full Name Your Email Address