I told a seller today that an offer is like Age, it is just a number. The trick is to not take it personally, to not react emotionally. An offer is (usually) just a way to measure the motivation of the Buyer. They are telling us that they are willing to pay $X for an asset we may have priced at $Z. Another way to look at it is that they might be willing to buy it. We know that we want to sell it. From this point forward, it is just a matter of negotiation.
When I have garage sales, I don't put price tags on anything. That stuff is out on my lawn because I don't want it in my house any more. When someone picks it up and asks me about the price, they have identified themselves as a potential Buyer. They think they might want it, if the price is right. My job at that point is to negotiate price with them. My job is to see to it that this person leaves there with that item. Period. If I can't get that Buyer to agree to a price, I am going to have to figure out another way to dispose of that item. It isn't going back into my house!
Members of the general public, the Buyers and Sellers, under-estimate just how emotionally straining it is to participate in the buying/selling process. Acknowledging those emotions while keeping them under control is a delicate balance. I see it all the time. I know how difficult it is to do. Part of my job is to help my clients handle those emotions, to acknowledge them, channel them, accept them. An then we go on with the negotiations.
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