Me: “Hello this is Michael Reed, how may I help you?”
Agent: “Yes, I am on way to show your listing, do you have any offers yet?”
Me: “No, we have had a lot of interest but no offers yet”
Agent: “Great, by the way these folks are CASH buyers”
2 Hours Later……….
Me: “Hello this Michael Reed, how may I help you?”
Agent: “Hey, I just went through your listing with my CASH buyers, they loved it!”
Me: “Great, are they thinking of making an offer?”
Agent: “Listen, these guys are CASH buyers and I they are prepared to make an offer at $XXX,XXX (10% below the list price)
Me: “This is a very clean home with a lot of features that people are looking for? Why would the sellers lower the price by 10%?”
Agent: “My clients are CASH buyers and can close in 20 days!”
And there you have it. The agent was convinced that since his clients were going to pay with CASH, somehow we would lose our minds and lower the price. It’s almost comical because I think that this agent has success with this technique. Truth be told, my clients only have so much room to go down and a CASH deal and a quick close are hardly their concern.
All hail, the CASH buyer!