@joeknowsthemrkt i think it is a strategy on the part of some buyers. i see a lot more of it in my market.
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Alexandra Toledo
4.9K posts
I got an offer this weekend for $100,000 LESS than asking price on one of my listings with less than a week on market.
Either they can’t afford it, or it’s a price anchor. Either way my recommendation to the seller is the same- reject.
Not every offer makes sense to counter. We don’t negotiate against ourselves.
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Alexandra Toledo retweetledi
I’ve got news @TomSteyer — girls and women aren’t emotional support animals for confused boys.
The boys can go to therapy and leave us gals alone.
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Alexandra Toledo retweetledi
On Twitch just now, Marxist Hasan Piker makes an important admission: he says American Marxist pro-China tycoon Neville Roy Singham has funded a "political movement" in the US.
That's a significant characterization. PIker went to Cuba as part of a convoy organized by nonprofits funded by Singham.
As I've reported @FoxNews Digital, SIngham has pumped $285M since 2017 into pro-communist nonprofits, including CodePink, which is also facing Treasury Department scrutiny for possibly violating sanctions against the Communist Party of Cuba.
The groups that Singham has funded are 501(c)(3) and 501(c)(4) NONPROFITS that ARE NOT supposed be part of "political movements" but have clearly been politically motivated, supporting candidates, protesting administration (both Dem and Republican) policies and messaging consistently anti-US political positions.
Piker claims "the goal" of a probe into his Cuba trip isn't him but Singham.
He speak about Singham as friends call him: "Roy Singham."
"He's been a funding vehicle for a lot of like political, uh, a lot of political movements in the country, a lot of activism...They're trying to jam him up....That's it. That's the goal here....They get to chill speech."
Piker says Trump Administration national security advisor Sebastian Gorka is "behind" the scrutiny. He didn't provide evidence.
Follow @FoxNews for coverage of this issue -- why does it matter? Because these "political movements" are changing the dynamics in America, promoting the propaganda of America's adversaries.
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Alexandra Toledo retweetledi
Today is for the men and women who left home in service to our country and never made it back.
Remember them today.
Spend time with family. Fly the flag. Remember the freedoms and ordinary moments we enjoy came at great cost.
God bless their sacrifice, and God bless America.
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@SacksRealEstate that is not a great strategy. maybe the seller would prefer a negotiation vs a cancellation? you are putting your clients money on the line with this rediculous strategy.
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Here is a simple strategy I utilize and recommend to clients. If I am seller or repping seller, and buyer wants to renegotiate, then they need to terminate their contract. And then we can renegotiate. We don’t negotiate with buyers who have call options on the property.
Jacob Naviaux@Jacob_Naviaux
Fixer upper gets listed for $250k. I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer. Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs. Listing agent says too low. 4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low. Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work. I draft the offer, send it over, and it gets accepted. We price the deal at $190k and sell it — signed contract and EMD in hand. While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD. Seller meets us halfway. Price drops to $170k. We make $25k. That’s the exact play we run wholesaling MLS properties.
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@bethanyjbabcock if you are including agents who represent these buyers, then it is a violation.
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@AlexandraT61998 It does not. It is advising clients of who has a history of breaking contracts before entering one with someone. I have a fiduciary duty to do exactly that
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In commercial we keep a list of these guys.
Advising our clients who to NOT go under contract with is one of the higher values investment sales agents bring.
Jacob Naviaux@Jacob_Naviaux
Fixer upper gets listed for $250k. I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer. Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs. Listing agent says too low. 4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low. Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work. I draft the offer, send it over, and it gets accepted. We price the deal at $190k and sell it — signed contract and EMD in hand. While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD. Seller meets us halfway. Price drops to $170k. We make $25k. That’s the exact play we run wholesaling MLS properties.
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i agree with you. the responses are inane. business involves negotiation. if the seller is ok with the discount, then the buyer made a good move to his benefit. i have been on both sides when something like this has happened and the sellers agreed. most time they don't, but that is not my call to make for my clients. my guess is most of these agents are inexperienced in re. our job is to let our clients make their own decisions. we are agents.
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When someone hires me or wants to hire me and they ask for a discount I don't take it personally, they ask. I say no and if they want to find someone else or cancel, I can live with that. It's not unethical to ask for a discount.
it's possible it's a regional thing. happens all the time to my sellers.
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The responses to this, my god
Where is the client advocacy? You have leverage and not using it?
Why are brokers more concerned over their reputation (LOL) than getting their client a discount?
A lot of fat cats out there we need a correction
Jacob Naviaux@Jacob_Naviaux
Fixer upper gets listed for $250k. I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer. Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs. Listing agent says too low. 4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low. Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work. I draft the offer, send it over, and it gets accepted. We price the deal at $190k and sell it — signed contract and EMD in hand. While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD. Seller meets us halfway. Price drops to $170k. We make $25k. That’s the exact play we run wholesaling MLS properties.
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@ItaliaMoe @shawngorham @CarolWalshReal1 @Jacob_Naviaux if the seller's position is so weak that he can't or won't go back on the market then he has no negotiating power. that is the cold hard truth.
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@shawngorham @CarolWalshReal1 @AlexandraT61998 @Jacob_Naviaux The seller could have asking for a non contingent offer so it’s not unethical. He took a risk that didn’t go his way that’s business
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Fixer upper gets listed for $250k.
I offer $180k with 3% commission — I’m a licensed agent and my company is the buyer.
Plan is to wholesale it for $190k. Needs $75k in work and will be worth $320k after repairs.
Listing agent says too low.
4 weeks later our CRM notifies me the list price dropped to $225k. I follow up. Agent still says $180k is too low.
Another month goes by. CRM notifies me again — price drops to $210k. I follow up. Agent says they think it’ll work.
I draft the offer, send it over, and it gets accepted.
We price the deal at $190k and sell it — signed contract and EMD in hand.
While we’re still in DD, I tell the agent my buyer needs a $20k price reduction to move forward, but they’re ready to wire EM and waive the rest of DD.
Seller meets us halfway. Price drops to $170k.
We make $25k.
That’s the exact play we run wholesaling MLS properties.
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this last minute discount is not an example of not working in good faith. a buyer on a listing of mine asked for a $10k discount at the closing. seller said pound sand. buyer closed escrow anyway. buyer asked seller said no. the idea that asking for discounts is unethical is absurd. negotiation is the basis of any business.
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Because he never had intent to pay $180 in the first place, and he's hiding behind a shell. Again find something you don't like cancel or ask for a reduction. And yeah the seller can tell them to pound sand and if they're a savvy agent they would. But it's unethical behavior from the start to plan it that way.
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this is how business goes. he played his hand and won. he is the agent and the buyer, which in california has to be disclosed. how is that unethical? how many buyers have planned to get a discount in the inspection period? many. i see it a lot as a listing agent. do you consider them unethical too?
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@shawngorham @CarolWalshReal1 @Jacob_Naviaux why unethical? seller doesn't have to take the lower price. is it shi**y? yes. unethical - no.
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@CarolWalshReal1 @Jacob_Naviaux @shawngorham why unethical though? this is a business transaction. if he wants to pay less, he can do that. seller can also say no.
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@AlexandraT61998 @Jacob_Naviaux @shawngorham Oh I think it's unethical but probably not illegal in his state, yet.
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@CarolWalshReal1 @Jacob_Naviaux @shawngorham while i am not a fan of wholesaling, this isn't illegal or unethical. seller could have said no, and many do. i am sure jacob burns a lot of bridges and agents avoid him.
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Dude the problem here is you had no reason to ask for that other $20k. Wasn't like you found out the foundation was f***** or some actual material condition. If you had then there would be no problem.
But you set them up knowing you wouldn't pay the contract price from the beginning.
That's the problem. You pretended to have a meeting of the minds at 180 in good faith, and then you rug pulled once you had them in contract.
And by the way I spent a couple decades administering bankruptcy estates. I've got no issue with people selling property for what it's actually worth and negotiating hard.
It's the fact that you weren't honest from the start, that's the problem. Your profit here is basically dependent upon you lying to people to get them into contract knowing you never intended to pay that price. That's not negotiating in good faith.
And that's exactly why agents don't like wholesalers. Because we actually have a duty in real estate transactions to be honest. And you don't seem to believe that duty applies to you.
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@MaddieB987 @SacAppraiser when we had an appointed commissioner, the insurance marketplace worked for everyone. it was not that long ago.
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@AlexandraT61998 @SacAppraiser No, because they would be appointed by a corrupt politician for political reasons. See CARB. The insurance laws/regulations need to be reformed, but that is nearly impossible in CA.
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30% rate hikes? Yikes. FAIR Plan policies are expected to see rate hikes in October 2026. This is last-resort type insurance in California when traditional insurance is not available. The number of FAIR Plan policies has seen exponential growth in recent years.
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@SacAppraiser that is true, but someone who is appointed can be easily removed for doing a terrible job. many more homes will become uninsured in california. not good for business.
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@AlexandraT61998 I hear you. To be fair, not everyone who gets appointed is qualified either. Very frustrating to be talking about insurance so much in real estate conversations. It didn’t used to be like this.
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Alexandra Toledo retweetledi
Says the dude who oversees a mountain of fraud and corruption.
Funnels money to his wife’s own non-profit that pays her.
Chief of staff just pled guilty to embezzling money to pay off political friends.
No bid contracts to campaign donors.
Selling us out to BYD (China).
Governor Newsom Press Office@GovPressOffice
SHUT. DOWN. THE. CORRUPTION.
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If that addict on your street were your own son, what would you do? That is the defining question that guides my 5 step plan to fix the homelessness problem in LA. We *must* end this evil racket of corrupt politicians and NGOs who profit off the misery of these poor souls. They launder money and feed them more drugs, so they can keep their customers locked in this hell on our streets. We have a moral obligation from God to help them and make our city safe and clean for everyone. Karen Bass and Nithya Raman have forsaken this city. Time for real leadership. Time for real compassion.
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@spencerpratt @KATYSaccitizen the drug dealers and the ngo's are killing our people to get rich. they have colonized the drug addicted to plunder our wealth.
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