Lowballing..??

Can someone please explain just what this strategy entails.

Also, is this strategy useful in the current property climate. Most people are reporting that agents are not in the mood right now to bother with below asking price offers.

Any other strategies for buyers that might help..??

Thanks
Pango.
 
Lowballing....Can someone please explain just what this strategy entails.
Yes. It is making very low priced offers on multiple properties in the hope that one vendor may be desperate enough to accept - so you pick up a bargain.

Also, is this strategy useful in the current property climate. Most people are reporting that agents are not in the mood right now to bother with below asking price offers.
I can only speak of the market we are active in - Sydney, Central Coast & Newcastle. Lowballing is just a waste of time as you said. This is a sellers market. The time for this strategy was end of 2008 in the depths of the GFC.

Any other strategies for buyers that might help..??
Yes. If you want to buy a good property at a fair price make sure you are first to inspect it and make a decent strong offer.;)
 
I can only speak of the market we are active in - Sydney, Central Coast & Newcastle. Lowballing is just a waste of time as you said. This is a sellers market. The time for this strategy was end of 2008 in the depths of the GFC.

Sydney is a big place and maybe Nathan will believe other wise.

"Strong offer"?
As an investor I want the lowest possible price and the highest possible return.
Paying to own is not investing.
 
Sydney is a big place and maybe Nathan will believe other wise.

Of course you're right Piston, I should have added all the usual caveats. :eek:

Do we lowball? - of course we do - especially when we have a case of one of the 3 D's.

But there are a lots of posters I've noticed lately that are lowballing everything including the good stuff they really want and would have paid more for - and they end up missing out and all confused as to why :confused:
 
OK I also miss out the caveats lol as it seems i keep repeating myself as if I was piston broke... oh that's right I am! phew.

The art of negotiating is about finding out where the other party is at and as much info as possible about every aspect of the transaction & negotiation before even opening your mouth to speak, or even thinking of making an offer.
 
I used a buyers agent in Sydney after experiencing difficulties making offers below asking price and being brushed off.
 
...and how did it go for you?

For my first time trying to negotiate with the agent was a bit annoying that the agent didn't seem to take me seriously.

Using the buyers agent was a great experience and in the end I ended up with the property I wanted.

I plan on using them again.
 
It hasn't been best time to make offers well below asking price, up to a couple of weeks ago when I was researching the market at least, it might have changed since. I read a good tip here once, make an offer on what you think it is worth. I could see though that in the right conditions you could play some numbers and get something well below price by making several offers and maybe your get lucky. :)
 
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