Buyer asking seller to set offer

[Mjames]

I've had this same tactic used with me when selling cars and other items. Typically, if you tell them a lower figure than your current asking price, that figure becomes your new asking price and any offer submitted will be lower than the new figure you just gave them.

The problem here is if you are honest and tell them the lowest price you will accept, they usually do not believe it is the lowest price you will accept. Plus, you immediately show them how willing you are to drop the price before any real negotiations take place or offers have been submitted. In my opinion this is a bad way to start the negotiating process for the seller and weakens your negotiating position immediately.

As mentioned by some, the best thing is to let your agent do the negotiating if you have one. In my opinion, one of the reasons you use an agent to sell your house is to handle the negotiations so you don't have to deal with things like this.

[jp03]

Originally Posted by Mjames

I've had this same tactic used with me when selling cars and other items. Typically, if you tell them a lower figure than your current asking price, that figure becomes your new asking price and any offer submitted will be lower than the new figure you just gave them.

The problem here is if you are honest and tell them the lowest price you will accept, they usually do not believe it is the lowest price you will accept. Plus, you immediately show them how willing you are to drop the price before any real negotiations take place or offers have been submitted. In my opinion this is a bad way to start the negotiating process for the seller and weakens your negotiating position immediately.

As mentioned by some, the best thing is to let your agent do the negotiating if you have one. In my opinion, one of the reasons you use an agent to sell your house is to handle the negotiations so you don't have to deal with things like this.

Thanks everyone. Well, we decided to tell them a price and thats it...no negotiation. We are not desperate to sell so no need to go further. I agree, it is a way of restarting the negotiation at a lower price.

[crazyma]

Good Luck! hope it will work for you.

[TexasHorseLady]

When asked this question as a listing agent, usually phrased as "do you know what price the seller will accept?", my answer is always, "I KNOW the seller will accept [list price]." Other than that, the buyer just has to make an offer.

You've already answered their question of what you'll accept by setting a list price. Whether you'll accept less, under the right conditions, is up to them to determine by presenting that price and terms.

[Rakin]

There are other factors in an offer like closing dates, credit, type of loan ect that make up an offer.

That's why I'd want something in writing so you can evaluate the entire package.

It's not entirely about the price that makes a buyers offer strong or weak.

[palmcoasting]

Originally Posted by jp03

Thanks everyone. Well, we decided to tell them a price and thats it...no negotiation. We are not desperate to sell so no need to go further. I agree, it is a way of restarting the negotiation at a lower price.

Good for you! Let us know how it works out for ya. Personally, I don't see a problem with it. Enough of the games. Put it out there...they either take it or they don't. And then you either close it or move on.
I see nothing wrong with a seller approaching a buyer and starting the negotiations at all. Some see it as a game and one upmanship, others see it a a business deal...here it is, either take it, or leave it.

[Rakin]

One thing I've learned is not to always through out your best offer right up front. Save a little wiggle room in case they counter offer even if it's $500.