Prior to turning down an offer outright, it is advisable that you ask your agent to get in touch with the buyer’s agent and try to narrow down the gap as a way of facilitating a counteroffer. If the outcome of the interaction does not turn favorably, you can reject the offer and wait for the right time. On seeing low offers, show no signs of desperation. Buyers tend to measure sellers’ pulse and will seek to benefit from the deal using your desperate need to sell the property. Under such circumstances, wait some time, review your strategies and pricing and you will find a solution.
Not enough Offers
While location, condition, and price are the deciding factors in price, homes that do not measure up to the comps in the locality do not sell. The longer it stays on the market, the less likely it will sell. Sellers should be quick to react to the situation and review the marketing strategies from scratch in consultation with their real estate agent. A sale will result once the problems in marketing are found are rectified. If you do not get enough offers, then it is time to reflect and review your whole marketing strategy. Never get emotional over the status. Stay confident. Know that houses that are renovated, projected well, and are priced slightly below the market trend sell faster than the others that are priced higher and need to be improved. Where does your home fit in that? Is there yet work to be done to prepare it for sale?
Dealing with a Poor Market
A temporary poor local market could be the reason for no or low offers. This mean there is a buyer’s market, characterized by a higher number of homes for sale than the demand or homes selling very slowly and sellers are offering many incentives to the
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