People lowball online. It’s a common thing. Ebay, Facebook Marketplace, Offerup, Craigslist, the list goes on and on. A lowball offer is significantly lower than the seller’s asking price, often made in hopes of securing a bargain.
While it’s easy to take these offers personally or dismiss them outright, there’s often more to consider. Sellers must recognize that negotiation is a part of most sales processes, and buyers aim to get the best deal possible. Understanding this dynamic is the first step in navigating lowball offers with grace and strategy.
How To Handle Lowball Offers
| Action | Description |
|---|---|
| Acknowledge the offer | Thank the buyer for their offer and let them know you’ve received it. |
| Do your research | Look up the buyer’s profile and feedback to see if they are a reputable buyer. Check similar listings to see what the market value is for your item. |
| Respond promptly | Don’t leave the buyer waiting days or weeks for a response. Aim to respond within 24 hours. |
| Be polite and professional | Even if you’re rejecting the offer, be courteous and respectful. Remember, the buyer could be a potential customer in the future. |
| Negotiate | If you’re open to the offer, but it’s too low, counter with a price that is closer to your asking price. Be prepared to walk away if the buyer is not willing to negotiate. |
| Offer alternatives | If you’re not willing to lower the price, you could offer alternative solutions, such as free shipping or a bundle deal. |
| Decline politely | If you’re not interested in the offer, let the buyer know in a polite and professional way. Explain why you’re declining the offer, but avoid making the buyer feel bad. |
Strategies for Responding to Lowball Offers
1. Stay Calm and Professional
It’s crucial to separate emotions from business. Reacting defensively or with frustration can sour potential negotiations. Instead, acknowledge the offer and maintain a professional demeanor. This approach keeps the door open for further conversation and shows you’re serious about selling.
2. Evaluate the Offer
Before outright rejecting a lowball offer, consider the current market conditions, the interest level in your item, and how long it’s been listed. Sometimes, what seems like a low offer may be closer to the market value than you realize.
3. Communicate Clearly
Communication is key. If an offer is too low, explain why in a polite and factual manner. Provide evidence of your item’s value, such as recent sale prices for similar items, to justify your asking price.
4. Counteroffer Wisely
A strategic counteroffer can keep negotiations moving forward. Determine the lowest price you’re willing to accept and try to find common ground. Remember, negotiation is a two-way street; be prepared to compromise to some extent.
5. Know When to Walk Away
Not all negotiations will end in a sale, and that’s okay. If an offer is too low and the buyer is unwilling to meet your minimum acceptable price, it’s better to politely decline and wait for a better offer.
Real-World Applications
OfferUp and Mercari Strategies
Sellers on platforms like OfferUp and Mercari have shared their tactics for dealing with lowball offers. Some choose to ignore them, while others respond with humor or directness, depending on the situation. For example, one user suggested giving a lowballer the address to a comedy club, indicating their offer was a joke. However, straightforward responses like “Sorry, price is firm” are more common and recommended to maintain professionalism.
Professional Insights
Experts in real estate and job negotiations offer additional insights. For real estate, responding gracefully to lowball offers on your home and considering other terms of negotiation beyond price, such as settlement dates or inspection contingencies, can be effective. In the job market, thanking the employer for their offer before negotiating for a higher salary showcases professionalism and preparedness.
Summary of Facts
- Lowball offers are common in sales and negotiations.
- Staying professional and detached from emotions is crucial.
- Communication and clarity about your item’s value can help in negotiations.
- Counteroffers should be strategic and consider the lowest acceptable price.
- Knowing when to walk away from a negotiation is important.
FAQs
How should I respond to a lowball offer on a marketplace like OfferUp?
Respond professionally, stating your price is firm or offering a polite counteroffer. Ignoring lowball offers is also a strategy used by some sellers.
What’s a good strategy for negotiating a higher salary after a lowball job offer?
Thank the employer for the offer, ask for time to consider, research market salaries, decide on your minimum acceptable salary, and then respond with a counteroffer based on your value.
Is it worth responding to lowball offers on items I’m selling online?
Yes, it’s worth responding if you believe there’s room for negotiation. A professional response can either lead to a better offer or end the conversation amicably.