9x's out of 10, Your First Offer Will Be Your Best Offer...
And In This Market, That First Offer May Be All You Ever Get!!
A tough market it is...if you are one of the lucky few who are trying to sell your home and not behind on a mortgage, Congrats... Now: Listen In, Listen Up...Hear What Most Of Us In The Business Are Trying To Tell You...
If you are in the market of buying a home you know you have the pick of the litter with what is on the market in most locations around most populated Metro & Suburban Metro Areas...that being said...
Sellers...If you get an offer, WORK WITH IT because chances are, this is the best offer YOU WILL SEE
I can't tell you how many times a few of my sellers have rejected offers only to have the home sit on the market. I even have a couple listings that we have reduced these homes to under what the offers were for...WHY...because in my opinion they got greedy, over-confident and just did not want to listen to the professional...
Sometimes I just want to say, I Am Not Some Dumb Yenta(Italian by the way), I Know What I am Doing & This Is My Job...Your House Barely Comps. For What We Have It At...Take The Offer And Run
Only then to be looked at like I am a Vulture trying to make a dime on their equity..UNCOMFORTABLE...well don't worry... you Mr. & Mrs. Seller countered at Full Price(or very close to) and You Can Watch These Qualified, Ready to Close in 30 Days Buyers Say, BYE...BYE...Because Where You Won't Make A Deal, Someone Else Will Be Willing To...
What maybe Irks me the most is that I run CMA's every other week for my sellers-so I know my numbers, we talk on the phone or email at least once a week...it is almost the Holidays and most people aren't looking past November 20th-January...so, in what I call the last busy weeks of the year to get people in, under contract and closed...You Are Wasting Valuable Marketing Time...So, as we have learned in School...Lets Say It Together ...Shall We?
9x's out of 10, Your First Offer Will Be Your Best Offer...
And In This Market, That First Offer May Be All You Ever Get!!
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I know exactly what you are saying!! Good blog!! Buyers are crazy and seller's are crazy in many situtations!!
I feel for the seller's that are really really proud of their homes and they get these rediculous offers for the home that they have loved and grown with - but they do have to remember it is just a house when they go to sell it.
In my recent experieces - buyers are starting very low - which then makes the seller counter very high or very close to asking price and it seems as if the negotiations are going nowhere.
Anyway - I agree the seller should definitely try to work with their first offer as much as they possibly can because you never know if there will ever be another.