I know you are probably thinking I am crazy but I will say it now and forever, “It’s not about where the offer starts, it’s about where it ends up!”
Yes, there are some offers that are just plain ridiculous and my clients flat out reject the offer only to have the buyers come around full circle and come to terms, of course, but it’s not always the best way. Let me give you the following food for thought scenario.
An offer on your home comes in that feels low to you but your agent tells you it’s pretty typical for a starting point and suggests you counter anyway. You are so offended by the offer that you counter but you do so at full asking price. As your obedient broker I deliver the counter and the buyers’ agent calls me back and withdraws the offer.
Ok maybe you are thinking they will come back and you feel fine because you are going to call their bluff. Three hours later I get a call asking if we have any other offers on the table from a different agent. Now had we kept that first offer in play we could be in a multiple offer situation which puts the seller in the best position to receive the highest possible price. However, that is no longer the case. Now we are back to square one and market time ticks on. Hopefully this one won’t be a low ball offer too because our leverage is gone.
I hate to be cliché but a bird in the hand is worth two in the bush. We love our homes but the market place can be very cold. We have to separate that when we put our homes for sale. Our memories will always be with us and they are our memories of our great home but now it’s time to play ball. Buyer’s will always want a better deal and try to find a way to get it. The moral is sometimes those low ball offers can be leveraged to put you in a win/win scenario so be sure you are responding to that offer from a business stand point and not your heart.