If you take care to price your home correctly — that is, at a price that is in line with what similar properties in the area have sold for recently — then you have a good chance of selling it at or near your asking price. In this ever changing market many Sellers are pricing a little high trying to capture the market we were in only weeks or months ago. That is why it is important to price your home correctly.
That doesn’t mean you won’t get a low-ball offer. You might. So what do you do when that happens?
First, understand that the buyer may not necessarily be trying to steal away your home at a bargain-basement price. He might simply be mistaken about its true market value. Of course, he might also be coming in at a low price in the hopes he’ll get lucky.
You will never actually know the buyer’s motives. So it would be a mistake to get angry or dismiss the offer out-of-hand. That low-ball offer might end up being the beginning of a negotiation that results in you selling your home at a good price.
Your first step is to work with your REALTOR® to determine:
How serious the buyer is.
How qualified the buyer is. (For example, do they have a pre-approved mortgage?)
How amenable the buyer is to a counter-offer that reflects the true market value of your home.
What that counter-offer should be.
This isn’t an easy process. It takes knowledge and experience to get it right. That’s why working with a good REALTOR® is essential.
Looking for a REALTOR® who is an expert at this stuff? Call today.