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Should You Take The First Offer?

Posted by Redco Admin on Saturday, January 7th, 2017 at 6:44pm.

Many times I hear from clients these words, " We are not interested in just taking the first offer that comes along. We would rather wait longer to get our price..."

I will share something with you... Very often the first offer is actually the best one, and of course I am not saying here you should take it the way it was presented but you should start the negotiation process and by doing this open the door to a successful transaction. In the end, who knows when the next offer is coming. Exception to this is of course a multiple offer situation when you are receiving several offers in one day and that makes buyers "bid", similar to an auction. This is probably the situation you want to be in, as at that point likely you will end up getting a few extra thousand dollars, or more, then you were even initially thinking about...

Another exception would be if an offer is made by an investor, who is essentially throwing low ball offers around the town in hopes that some of them get accepted.

All of this starts with a strategic pricing of your home. Based on the time of the year, location, condition, competition you currently have in your area and many other factors. It is very hard to sell the house for less then it is actually worth, market will almost always correct your price!

Interested in selling your home? Contact Redco Agent on Duty at 773.899.4895 

Jack O. Pysz, Managing Broker

REDCO, INC.

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