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Brighton Home Seller Tips: The Art of Making a Counteroffer
As a home seller, you're anxious to receive an offer to purchase your house, and getting an offer may or may not be all that you had hoped it would be. While getting an offer below your asking price isn't uncommon in the real estate market, it indeed isn't ideal. Rest assured, however, that there are proven strategies for dealing with an offer that doesn't satisfy your terms. Our REALTORS® at Griffith Realty are here to guide you through the art of making a counteroffer with these three tips.
- Don't Panic
It may be tempting to become frustrated when you receive an offer that's too low for your liking. However, keep your emotions in check and have an in-depth look at what the buyer's offer. Is the offer substantially lower than what you're asking? Are there other terms besides the amount that isn't up to par with your goals? Most importantly, are you willing to negotiate? Unless you are motivated to sell quickly because of time restraints or personal situations, you always have the choice to refuse an offer or make a counteroffer. - The Time to Negotiate
There's a fine line between wearing a poker face and giving in to the buyer's terms when it comes to selling your home. If you've listed your house during a seller's market, you have much more leverage, since you'll likely have more potential buyers viewing your home and making offers. However, during a buyer's market, you may have to be willing to compromise a bit to reach an agreement that satisfies both parties. This part of the negotiation process is when you'll want to carefully consider an offer and know how best to counter it. - How to Counter
When it's time to make a counteroffer, consider the offer's expiration date.You should take your time in discussing how you'll counter, but you don't want to sour a potential deal by procrastinating. Document what terms in the offer are unacceptable, and precisely what you are willing to accept. If the purchase price is the main point of disagreement, you might consider lowering your price slightly to see how the buyer responds. At times, this tactic results in more than one counteroffer until both the buyer and seller agree. Another strategy is to counteroffer a selling price midway between what you initially asked and what the buyer is offering so that both are equally conceding to agree. Other factors that may figure into your counteroffer are the closing date and closing costs. If you are willing to negotiate on the asking price, you might counter with a closing date that is more acceptable or ask that the buyer to pay all or a more substantial portion of the closing costs. Open, clear communication is key to a successful negotiation, as well as understanding the current real estate market trends. Our REALTORS® will be close at hand to advise you as you make your counteroffer, and we'll handle the paperwork once you've decided how to proceed.
We're ready to get your home listed and marketed to prospective buyers searching for Brighton homes for sale. When you're ready to list your home for sale, contact us to speak with one of our real estate professionals.