Well, it's happened twice today.  I warned my clients that their offer was far too low for this market but they just don't listen.  Too many courses by Carleton Sheets or something like that, I don't know, but I'm amazed how many people think that their lowball offers will be countered.  Now, I'm not talking about ten or twenty thousand off of a price but much, much more.  Only serious lowballers here. 

Here's what happens.  The listing Realtor receives the offer and, realizing that his client will either freak out or refuse to pay his commission, he/she simply sends the offer back and walks.  No counteroffer... nadda... nothin'.... zippo.  And if it were your home, you'd expect your realtor to do the same.  I repeat.  If it were your own home, you would expect...no, you would demand that your realtor do the same. 

Now, it's true.  Business is business right?  It's not personal, it's business right?  Fair enough but when I am the listing realtor I always remind the realtor bringing the offer that if he/she/it wants to get paid, the offer has to be decent.  Other than that, I'll bring my clients my own offer from my own buyers.  'Nuff said. 

There are excellent ways of bringing prices down to a level where the buyer is getting a great deal...it's called professional negotiating.  However...NEWS FLASH: professional negotiating does not mean bringing a lowball offer unless you have a serious amount of comparables, statistics, and good ol' fashioned CASH.  But a lowball offer on it's own?  Just a stupid number you picked out of the air?  Not in Vancouver, my friend.  Not in this market.  Perhaps soon...but not in this market.