Should Sellers Take The First Offer When Selling Their Home?

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Realtors, would you accept the first offer on a house you are selling? Why or why not?

Original content by Beth Atalay

 

Should Sellers Take The First Offer When Selling Their Home?

Some say first offers are the best offers, some say to wait it out to get a higher offer, I personally do not agree with either theory.

If your house is priced to sell and what I mean by that is list price is supported by sold homes within your neighborhood that are comparable to your house and within the market value, then it is perfectly fine to expect an offer in a short amount of time.
That is an indication your house was well marketed by your Realtor®, priced well and shows well.

Sellers may think accepting the very first offer early on is premature and higher offers may be just around the corner. Are you ready to gamble? If you are, this is a great opportunity for you but end result may not be what you may be expecting.
See, the longer your house sits on the market, less appealing it becomes to prospective buyers and offers may become considerably less than the very first one you did not accept.

If the first offer is below what you are willing to take, then my advice would be to counter offer. Chances are, buyers were prepared by their Realtor® to expect a counter offer.

Receiving an offer within the first couple of days of listing is not an indication that your Realtor® did not work hard enough, on the contrary, they list price suggestion was right on target and your house was marketed properly to attract potential buyers and they deserve every bit of commission you are paying them.

Whether you are selling a home in a seller’s or buyer’s market, you should seriously consider the offers you receive even if it’s on day one of listing.
Be sure to have your house show ready as soon as you decide to put it on the market for sale and of course, price it to sell!

If you are a Clermont, Minneola, Groveland FL homeowner thinking about selling your home, I would love to earn your trust to become your Realtor®. Call me at 407-929-1852 or email bethatalay@gmail.com to discuss your real estate needs.

Should Sellers Take The First Offer When Selling Their Home?

 

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Beth Atalay, Broker/Owner

Cam Realty and Property Management

407-929-1852
Wheretoliveinorlando.com BethAtalay@Gmail.com
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Rainmaker
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David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

I stress to my sellers when I take the listing to accept the “right” offer. There are many factors besides price that make up a “right” offer. I also find that it can take two or three weeks for higher offers to come in. That first offer is often too low but the buyer (and their agent) hopes the seller will jump on it.

 

As long as showing activity is good I encourage sellers to be patient but not unrealistic.

Aug 18, 2015 01:15 AM #1
Rainer
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Morris Real Estate Marketing Group
Morris Real Estate Marketing Group - Toronto, ON
Marketing for realtors made easy!

Thank you for your comment and that's a great point David Gibson Activity, and keeping expectations realistic are key.  

Aug 18, 2015 01:32 AM #2
Rainmaker
3,436,056
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

It shows that the price was right and the buyers agree in the value of the home. Take it and move on...

Aug 18, 2015 05:21 PM #3
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Rainer
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Morris Real Estate Marketing Group

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