How to Handle Lowball Offers and Get the Best Deal for Your Home
Selling your home can be a rollercoaster ride, especially when you receive lowball offers that
make you want to throw in the towel. But before you give up, here are some tips on how to
handle lowball offers and get the best deal for your home.
Stay Calm and Consult with Your Agent:
Receiving a lowball offer can be frustrating, but it’s essential to stay calm and not let your
emotions take over. Consult with your agent, who can provide valuable insights into how offers go in your market. Don’t immediately shut down communication with the buyer, as they may have received bad advice on how to price their offer. Keeping the lines of communication open can lead to a better deal in the end.
Consider All Offers:
Don’t waste your time thinking about how you might be perceived. Instead, consider all offers
with a cool head. You may end up with a good deal if you’re open to negotiation. Ask the buyer’s agent why their offer is lower than the asking price. This information can help you evaluate your property and determine what improvements you need to make it more appealing to the market.
Present a Counter Offer:
If you’re going to make a counter offer, present it with data, such as the market's list-to-sales price ratio. Have your agent provide a written document containing the best comparable homes to yours, including statistics from two months ago to the same measurements today, such as the number of similar homes on the market, sold, closed, expired unsold, pending transactions, and new similar listings (your competition) with the data sheets and pricing. By knowing all this
information, you can make a wise estimate of the lowest and highest price you can expect.
Trust Your Experienced Agent:
A trustworthy and experienced agent can spot when a buyer is genuinely interested in your
home despite making a low offer. They can help you negotiate the best deal and ensure that all
parties involved are satisfied.
Selling your home is a business transaction, and it’s essential to stay calm, consider all offers, and work with your agent to get the best deal. Don’t let lowball offers discourage you from selling your home for what it’s worth. With the right approach, you can sell your home for a fair price and move on to your next adventure.
Sincerely,
Your Oregon Realtor®
