An article in the Wall Street Journal points out a successful strategy for making a low offer in a stagnant market. During a hot market sellers were used to turning up their noses at lowball offers. But with the real estate slump affecting many parts of the country sellers should learn that a low offer isn't an insult. According to national real estate expert Danielle Kennedy, a low offer is "an expression of interest," and should start the ball rolling to a successful sale.

Making low offers is part of the stock in trade of Exclusive Buyer's Agents (EBAs). Not that it's a standard practice in every market. But we do want to make sure that our clients don't pay more than a property is worth. The secret is knowing market values and being able to demonstrate to a seller that the offer price is reasonable given sale prices of comparable properties in the neighborhood. EBAs have to give the seller strong justification for a low offer.

Denver's real estate market is uneven. Prices in some neighborhoods are stable, even appreciating, while in others are dropping slightly, and in still others are dropping drastically. This kind of a market suggests that buyers should be careful in who they choose to represent them. Buyer's Agents who don't work exclusively with buyers can be affected by their expertise in representing sellers, wanting to be fair to the seller, sometimes to the detriment of their buyer client. Exclusive Buyer's Agents don't have that kind of a mindset. Their mindset is on getting the best price for their buyer clients.