the price is generally paramount when it comes to successful deals, you must know when to reduce your cost and when to withdraw from an agreement. It is axiomatic in the real estate arena that any home can sell provided the price is right. Therefore, if you do not receive offers despite your best efforts to list your property in the most attractive way, it is likely that the property is priced too high. Though you might have consulted a real estate agent to fix the asking price, you must be realistic in depending on this figure. Conduct a thorough comparative analysis to review the prices. Another situation indicating incorrect pricing at listing is if the offers you get are substantially lower than your asking price, and buyers disappear after the counteroffer. Suppose comparable sales validate your pricing, and there are no structural or sale-killing flaws in the home, and you have the economic capability. In that case, you can consider removing the property from the listing and wait until the seller’s market improves. Despite the best of market research and comp analysis, if offers are poor but the house is priced correctly, it could indicate a sudden slump in the market. Six months may make a difference.
Poor Offers
There are really no “poor offers,” only sales opportunities if you know how to deal with them. Do not be offended by a poor offer. Do not take it personally. As stated previously, put your emotions aside. Always make a counteroffer and wait to see the results. Successful negotiations can turn the low-ball proposal offers into a closing. Even a ridiculously low purchase offer should be countered. Remember that an offer is not the buyer’s final price; it is a gambit toward that goal. Buyers often begin the transaction at a price well below what they are actually willing to pay. They think, who knows — are there unseen factors that will
70
Powered by FlippingBook