You can send a message by rejecting that less-than-desirable offer, but still, keep them in a negotiating mindset. They’ll realize they ventured far too low. If they sincerely want your property and not just a bargain, they will likely come back with a much higher offer. But keep in mind, that you may lose the deal if this is just a person hoping you are desperate enough to take an offer that is lower than the value of your property. While that might seem bad at first, in retrospect, it leaves you completely open to better offers in the future. And, let’s be honest, you want someone who wants your home, and proves it by being willing to pay your asking price (or more)! It’s most desirable to use this approach when your home has just come on the market or if you have an open house scheduled soon.
NEGOTIATION TECHNI N TECHNIQUE #3: UE #3: Bring on the Bidding War
Did you know there is such a thing as a bidding war? This is usually a carefully crafted situation that can bring the bid on a home above the price the homeowner asked for in the first place. Allow me to explain.
The Process
• The first thing you do is put your home on the market. I recommend to my clients to have their listing "go live" early on a Thursday morning so that realtors see their new listing first thing and buyers who are seeking similar criteria as their property will receive an email that same morning as well.
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