we can work something out. If you counter at full price, they will most likely walk, and we don't how long it will be in this market to get another buyer, or if the next offer will be even less. Usually it works out that our first offer is the best." He refused to budge, and the buyer indeed walked. A couple of months later, he took a lower offer. Moral of the story? Don't get insulted if you don't like an offer you don't like. View it as a starting point, and a path to success.
HOW TO REACT TO LOW-BALL OFFERS
As you can see by the last experience, homebuyers look for deals. Think how quickly you would jump at a home selling below market value and in perfect condition that meets your every need. That situation rarely happens, but that doesn’t mean buyers won’t make low-ball offers, even strong seller markets. If they see your house as the perfect home, they may switch their priority to getting a lower-than-market-value price in negotiations. If buyers truly like your home better than any others, then why would they pay less for it? They may also think that they are being savvy negotiators by at least trying. However, since they are negotiating for their next home, having a home they love is more important to most buyers than the business transaction. I have had buyers who made low-ball offers actually accept a full price or just below full price counterproposal. Keep your focus and negotiate accordingly.
DO BE QUIET AND LIS T AND LISTEN
Whether you are approached by the buyer or the buyer’s agent, remaining quiet is one of the best ways to negotiate the sale. Developing a feel-good, overly friendly relationship with either can interfere with your focused efforts to sell your home quickly and for a fair price. Buyers uncomfortable with your quietness may want to break the silence by giving information that would be crucial to know. Again, the more knowledgeable you are about
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