The Art of the Deal

Spring is in the air and despite a depressed economy we have Buyers shopping, eagerly looking to make a good deal and BUY homes. Interest rates are excellent and tax credits have contributed to this activity. In these economic times one thing is for sure, Buyers will most certainly test the waters. I tell my clients that offers can be tricky because you want to negotiate but you also don't want to insult. A good deal typically is where both the Buyer and Seller have made concessions, are not totally happy but, both are satisfied. In difficult financial times low ball offers are going to happen. It is important that Sellers not be insulted with low ball offers and instead consider that out of all the hundreds of homes listed on the market they have chosen their home to potentially purchase. Selling Agents should prepare their clients for this possible scenario in advance and advise them that it would be in their best interest to take all offers seriously and at least counter. Let the Buyer know if you are not willing to accept this offer what you are willing to accept in a sales price. A recent listing of mine was an excellent example of this situation. We received a low offer, countered, and wound up within a few thousand dollars of the asking price. If however my client would have been insulted and flatly rejected the initial offer we possible would not have had made the sale. My advice is to keep your mind open and explore all potential offers. You may actually sell your home sooner than later.