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Just got slapped with a shockingly low offer on your perfect, immaculate home? Here's how to slap back!
Low ball offers aren’t just frustrating, they can be downright insulting. Someone is coming and and saying that your house is worth WAY less to them than what it’s worth to you. Getting upset about a low initial offer is completely normal. Just remember, it's where the purchase ends, not where it begins. Keep emotions in check, because this is business! Remember, you are the boss when pricing your home! But pricing high and hoping for negotiations is not always the best strategy. And if someone tries to lowball you, we ALWAYS hit back with a counteroffer.
Countering with your lowest acceptable price can cut the back and forth. But just be careful; countering at full price might deter a buyer completely. After the low offer comes is, the next step is to check the latest comparable property sales in your area. Sometimes the market has changed since you listed. If the buyer's realtor gives a low offer, we ask them: "Based on what comparables?" If they can't provide a legit list, maybe they're not clued into the local market. And obviously, besides price, there are many other factors to consider when considering an offer. Things like, closing date, seller concessions, inspection contingencies, possession date, buyer's financing, and so much more.
All of these elements paint a whole picture of the offer. So, choose a realtor who stays calm and guides you, especially when that low offer comes in. Because let's be honest, emotions can cloud judgment. Stay focused, keep cool, and remind yourself: selling is a business move. And don’t forget, always ALWAYS make a counteroffer. Follow me for more real estate tips!
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