Should You Take the First Offer on Your Home?

Today I wanted to cover a subject that seems to have a lot of different opinions among real estate agents and that is, as a seller, if the first offer made is the one you should take. For the majority of the time, I would say yes that is the case and there are a lot of reasons for that. First of all, if a house is on the market for typically 25-45 days, you’ve had people look at your house and the offer you finally get is going to be your best offer. Not only that, but properties tend to go “stale” and the buyers start seeing that the longer the home has been on the market, then the more they feel like they have negotiating power.

That being said, those are the characteristics of a typical market where homes are staying active for 1-3 months. However, what we’re seeing a lot of is multiple offers; especially on homes that are priced well. When we price a home right at the perfect market value, we’re getting 2-4 offers on the property within the first few days. My suggestion is to take a look at a few offers, compare them and give the buyers the chance to raise the price a few thousand dollars. As for the buyers that are listening, when you go to put in a bid on a home that is really nice and only been on the market for a few days, call your agent (like us) and find out if there have already been multiple offers and what price you need to be at to actually obtain the home.

If you are looking to sell your home, please let us know. We are doing fantastic at getting properties sold within the first week or two because of the extensive marketing and the accurate pricing. Also, if you’re a buyer and looking to work with a buyer specialist, we have three on hand and they are great at moving quickly to get you in a position where you’re one of the first people to make an offer. This prevents you from paying more than you have to for a home.

Give us a call at (352) 988-3447 if you have any questions. Thanks and have a great day!