It honestly feels like yesterday when I wrote post after post after post about selling my first house, looking for a new house and then eventually closing on our current home. Well, for the past 6 to 9 months The Wife and I have been looking for a new home (numbers behind the idea), and it was during this on going process this week where I ran into a very interesting exchange with a broker.
The home was listed for $850,000 on September 1, way out of my league, however when it dropped to $750,000 (still out of my price range) The Wife and I went to go at least look at it. We told the broker right away that we were more in the range of something with a 6 in the front of it for that particular house. Despite this very honest answer she insisted that we come back and take another looks, so we did…and then brought our parents…and then a tree removal guy who told me I was looking at at least $20,000 for what I wanted to do to the property. So with all that information known The Wife and I made an offer of $650,000.
To say she was taken back was an understatement. She led the conversation with something about me not being able to afford the home? I couldn’t believe the stupidity of this woman. First, she has no idea what I can or cannot afford. Second, we are looking in 2 towns (same school district), and it is likely we are going to run into each other again, so maybe it wasn’t the best tactic. I let her know, that was my offer and I am pretty sure she should at least bring it to her client.
She responded moments later letting me know that the buyer is not going to counter unless there is something with a 7 in front of it – which was the opposite of what she said to get us in the place! Either way, I let her know that I appreciated her time, but we didn’t want the house that badly to budge that much higher. I thought we were done with the whole thing until I got a text message from her:
Realtor: Evan – just so you know the homeowner “might” have countered you at $690k. That is why I asked your wife originally if you would offer $690k when she mentioned that number. $650k is an insulting offer for that house. Kim
What in the hell? Was she insulted? Was it the homeowner? Did I really even care? Not fucking really!
My Response: I don’t believe that’s how my wife put it, but nonetheless I am sorry if you or the homeowner felt this was a waste of time. I am sure he’ll get the number he is looking for eventually. I am sure if I offered him the asking of $750k when he originally put the home up for $850k 60 days he would have been “insulted” then too, so forgive me if I am not too worried or care whether you or him feel insulted. Regardless, good luck.
I was waiting for more texts so I could shoot over 3 or 4 comps that proved while yes it was a low ball offer, I was not completely crazy. But when she never responded I felt it would have been petty of me to do so (it is far better to come on to one’s personal blog and bitch about it).
How Can Someone Be Insulted By an Offer?
I really don’t understand the idea of someone being “insulted” by an offer. They own an asset, and that asset is worth something to me. Yes, it is lower than what you wanted but to be insulted is absolutely foreign to me. If someone offered me $100,000 for my house that could probably sell for $600,000 I wouldn’t be “insulted.” Would I immediately think we are not getting a deal done? Absolutely.
I get that there is an emotional part to selling a home, but at the end of the day it is a business transaction (and a freaking large one at that).