The Lowball Offer - Calgary Real Estate

Posted by Real Estate Partners REPYYC on Friday, January 18th, 2019 at 6:19pm

Submitting a Lowball Offer in the Calgary Real Estate Market 

 

There are a lot of scenarios in the current real estate market where a seller may face one of the more frustrating scenarios in the sale of their home, and that's the lowball offer. Re/Max Canada recently ran a study where they polled their large database of Facebook followers, where they asked buyers what their buying and bidding strategy would look like, 75% of polled / voting users responded by saying that they would "bid low!" 

While coming in low isn't always insulting, or unwarranted, there are many things you and your Calgary Real Estate Agent can do to make the chances of that offer come through with higher chances of success. 

Here's a list of five things to keep in mind when making a lower offer on a home for sale in the Calgary real estate market. 

1. Know and understand the Calgary market. Presently we're in a buyers market in Calgary, this means you're inherently facing less competition, seeing less multiple offer bids on homes, and therefore more negotiating power! While in a sellers market, you have a higher demand for homes, especially ones that are priced accurately, and face stiffer competition as a buyer. Work closely with your local Calgary REALTOR® to truly determine whether the home you're looking to make an offer on is priced correctly. Just because a home is listed at a certain price, a comparative market analysis might offer a more clear and concise picture on what homes in the area have sold for in recent times, allowing you to act accordingly! 

2. How many days on the market? How long has the home you've got your eye on, been on the market for? As a home goes from sitting days, to weeks, to months on the market, the sellers desperation could slowly start to grow, and depending on their personal situation the seller potentially could be more open to accepting a lower offer than asking. There are other factors to consider when looking at a homes days on market, the condition of the home could drive it to be there longer, it's pricing in comparison to other comparable properties, or the seller could simply be stubborn and unwilling move on their price as their motivations to sell could be limited. 

3. Knowing and understanding the seller. If your Calgary real estate agent is able to get insight into the sellers motivations for selling, you are better posed in crafting your offer against their situation. For example, finding out a seller has already purchased another home, means that they're facing two mortgage payments, two utility bills, two insurance bills, etc the property could be paid off or inherited meaning the sellers are less likely to be looking for maximum profits on the sale. All these factors drive the end result, which is how much you can get the home for, knowledge is power in negotiations and your agent should be willing to ask these questions to gain a competitive edge for you. 

4. Sweetening a lower offer with a pristine and clean offer. Consider this, a quick, painless, sale could be the exact remedy a seller is seeking. Offers with lengthy conditions, complicated conditions (i.e. you having to sell your house first) or multiple conditions (financing, inspections, etc) are all blockades and could ultimately keep the home on the market for weeks. Coming in ultra prepared, or in a stable financial position can really make the difference, we consistently see offers accepted for lower amounts than competing bids, simply because those offers are stronger in every other way. 

5. Go low, but don't insult the sellers. If you're prepared to put an offer for 20% off asking price, knowing the home is only priced a few thousand off it's fair market value price, you're ultimately running the risk of annoying the sellers and making your unreasonable offer the last offer they consider from you. In some situations, a really low initial offer will actually hurt your position as the sellers can sometimes dig their heels in deep and instead of negotiating based on merit and numbers, they'll negotiate based on the negative emotions they felt from the initial offer. 

Consult with a Real Estate Partner Real Estate Agent with Re/Max First today by calling 587-578-7653 and setting up a strategy call to determine the best negotiation methods for your current real estate needs! 
Re/Max First Real Estate Listings
New
207 Cooperstown Ln Sw, Airdrie
  • Detached
  • 4 Beds
  • 3 Baths
  • 2,560 SqFt

207 Cooperstown Ln Sw, Airdrie

$675,000
New
105 Legacy Glen Cm Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,337 SqFt

105 Legacy Glen Cm Se, Calgary

$480,000
New
208 Cedarpark Dr Sw, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,358 SqFt

208 Cedarpark Dr Sw, Calgary

$589,900
New
49 Waters Edge Gd, Rural Rockyview County
  • Detached
  • 6 Beds
  • 5 Baths
  • 3,474 SqFt

49 Waters Edge Gd, Rural Rockyview County

$2,125,000
New
120 Beddington Ci Ne, Calgary
  • Detached
  • 5 Beds
  • 3 Baths
  • 1,999 SqFt

120 Beddington Ci Ne, Calgary

$394,900
New
10619 Willowind Pl Se, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 2,119 SqFt

10619 Willowind Pl Se, Calgary

$750,000
New
179 Auburn Sound Ci Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,872 SqFt

179 Auburn Sound Ci Se, Calgary

$815,000
New
10651 Shillington Cr Sw, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 1,030 SqFt

10651 Shillington Cr Sw, Calgary

$487,900
New
7800 Springbank Wy Sw, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,016 SqFt

7800 Springbank Wy Sw, Calgary

$629,900
New
160 Simcoe Cl Sw, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,433 SqFt

160 Simcoe Cl Sw, Calgary

$599,900
New
213 Hillcrest Dr Sw, Airdrie
  • Detached
  • 3 Beds
  • 3 Baths
  • 2,162 SqFt

213 Hillcrest Dr Sw, Airdrie

$469,500
New
18 Havenfield Dr, Carstairs
  • Detached
  • 3 Beds
  • 4 Baths
  • 2,020 SqFt

18 Havenfield Dr, Carstairs

$469,900
New
511 18 Av Nw, Calgary
  • Detached
  • 1 Beds
  • 1 Baths
  • 696 SqFt

511 18 Av Nw, Calgary

$400,000
New
775 Willamette Dr Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,646 SqFt

775 Willamette Dr Se, Calgary

$1,125,000
New
7132 11 Av Sw, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,304 SqFt

7132 11 Av Sw, Calgary

$789,900
New
278 Cranleigh Pl Se, Calgary
  • Detached
  • 5 Beds
  • 4 Baths
  • 2,457 SqFt

278 Cranleigh Pl Se, Calgary

$649,900
New
9832 24 St Sw, Calgary
  • Detached
  • 5 Beds
  • 2 Baths
  • 1,282 SqFt

9832 24 St Sw, Calgary

$409,900
New
1902 5 St Ne, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 1,107 SqFt

1902 5 St Ne, Calgary

$574,900 ↓ $5,000
New
4811 Montana Cr Nw, Calgary
  • Detached
  • 2 Beds
  • 2 Baths
  • 879 SqFt

4811 Montana Cr Nw, Calgary

$385,000
New
49 Legacy Mt Se, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 3,015 SqFt

49 Legacy Mt Se, Calgary

$850,000
New
368 Copperpond Bv Se, Calgary
  • Detached
  • 4 Beds
  • 3 Baths
  • 1,578 SqFt

368 Copperpond Bv Se, Calgary

$389,900
New
231 Coopers Hl Sw, Airdrie
  • Detached
  • 4 Beds
  • 4 Baths
  • 2,136 SqFt

231 Coopers Hl Sw, Airdrie

$624,900
New
105 Aspen Pt, Strathmore
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,206 SqFt

105 Aspen Pt, Strathmore

$325,000
New
247 Copperfield Mr Se, Calgary
  • Detached
  • 4 Beds
  • 4 Baths
  • 1,799 SqFt

247 Copperfield Mr Se, Calgary

$474,900
New
283 Saddlebrook Wy Ne, Calgary
  • Detached
  • 5 Beds
  • 4 Baths
  • 1,438 SqFt

283 Saddlebrook Wy Ne, Calgary

$405,000
New
1624 34 Av Sw, Calgary
  • Detached
  • 2 Beds
  • 2 Baths
  • 933 SqFt

1624 34 Av Sw, Calgary

$550,000
New
404 35 Av Nw, Calgary
  • Detached
  • 4 Beds
  • 2 Baths
  • 943 SqFt

404 35 Av Nw, Calgary

$450,000
New
#23  Sierra Vista Circle  Sw, Calgary
  • Detached
  • 3 Beds
  • 4 Baths
  • 1,650 SqFt

#23 Sierra Vista Circle Sw, Calgary

$585,000
New
7056 Sierra Morena Bv Sw, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,573 SqFt

7056 Sierra Morena Bv Sw, Calgary

$464,900
New
1621 Evergreen Dr Sw, Calgary
  • Detached
  • 3 Beds
  • 3 Baths
  • 1,584 SqFt

1621 Evergreen Dr Sw, Calgary

$650,000

Leave A Comment

Format example: yourwebsitename.com

CREB® Data Ownership and Disclaimer Statement Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The listing data displayed is deemed reliable but is not guaranteed accurate by CREB®.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

Listing information last updated on May 30th, 2020 at 3:00am CDT.

What's Your Home Worth? Find out now, for Free.

Let's Go