If you receive an offer for your home that’s much lower than you asked for, how should you respond?

Our market has been on a great run lately. Prices are going up and some buyers are getting nervous that the market is soon to decline. That’s causing some of those buyers to churn out lowball offers for the homes they want. Today we’ll discuss some tips for home sellers that will help them navigate how to handle lowball offers.

1. Remain calm. Don’t freak out—trust your agent’s advice.

2. Respond to all your offers. We’ve seen lowball offers before and the last thing you want to do is ignore them or assume they’re not real.

3. Open the door of negotiation. Many times a buyer’s first offer isn’t their best offer, so a lowball offer can be an opportunity to negotiate. That includes the purchase price, but there’s a lot more than the price that you could negotiate on within a real estate contract.

4. Be polite and respectful. Buyers can be nervous about making an offer at all, so treat a lowball offer as a starting point—you never know where you can get them to go.

If you have any questions, always reach out to your Colemere Realty associate for answers. We’d be glad to help.