When a homeowner decides to sell their Alpharetta area property, it is crucial to be aware of the highly likely possibility a potential buyer may propose an offer for less than the listed price. While this occurrence can feel discouraging, handling the situation doesn’t have to be difficult, as long as the homeowner strategizes well with the help of their realtor. This includes remaining level-headed while deciding which of several methods of counter-offering is the best and most effective for the situation.
Opting for Simple Rejection
One more ambitious and daring strategy is to reject a received offer point-blank. Instead of presenting a counter amount, the seller expects the buyer to resubmit a better proposal. This may turn away some people, but waiting it out until someone is interested enough to play along can be the best plan for sellers.
Insisting on the List Price
Other sellers may deem it best to submit their counteroffer amount but stay strict on the list price or something very close. Some homeowners feel like they have to lower their price significantly in order to keep such an offerer interested. However, as mentioned above, typically, holding out for someone serious and engaged enough to entertain a seller’s preferred sum is best, spending only a little extra time to secure a price that better reflects the value.
Taking the Chance on a Bidding War
Another more daring tactic uses psychological persuasion pressure to push individuals shooting for a lower price to step up in order to have a chance at the property. This form of competition, also called a bidding war, typically is used when there are multiple offers, using the highest bids as persuasive examples in communications with lower bidders. However, homeowners can also make potential buyers only feel like there are other competing bidders. This can be achieved by setting up an open house and only allowing offers afterwards, making it appear as though the property is highly sought after, even if it’s not entirely true.
Adding an Expiry to a Counter Offer
Whatever the homeowner chooses as their method of countering, if they submit a concise expiration date for their counter-proposal, this ensures negotiations do not drag on unnecessarily. Whether the bidder or buyer accepts or not, the seller either secures an optimal deal or can move on to more receptive individuals.
Opting to Cover Closing Costs
One more attractive feature of the counteroffer is proposing the seller covers all associated closing fees. This can be a stressful addition to closing on a house for buyers. Though it usually accompanies a seller increasing the final price to compensate for this “addition,” buyers typically perceive this as beneficial and persuasive.
Contacting our experts at AlpharettaZen is the best plan of action in order to make your home selling experience a pleasant one. From the beginning stages to countering offers, our professionals will advise clients on all optimal approaches in order to close the sale as quickly as possible.