Should We Wait For A Better Offer?

November 16, 2011

It’s been a lot of work getting your home ready to sell, and by the time your home is listed, you can’t wait to see it sold. So when your REALTOR® calls to tell you that you’ve got your first bid, you are thrilled! Your euphoria is short-lived, however, when you learn that the price they offer is lower than you asked for. Should you work with this offer or wait for a better one?

Waiting for something better is one of the biggest mistakes a home seller can make. If your listing gets stale, buyers might wonder what’s wrong with your property and will either look elsewhere or start to make below value offers.

Statistics show that offers that come in the initial period of a listing are usually the most legitimate, and the first buyers who look at your home will most likely be the ones who buy it in the end.

So if you don’t like the original bid, your REALTOR® can help you come up with a counter-offer that is a reasonable compromise. A serious buyer will be willing to negotiate. Each party will have to make some concessions, but both should feel like winners in the end.

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