Three Times That You Should Counteroffer At Your Home's Full Listing Price
Posted on: 2 February 2018
Skillfully responding to an offer tobuy your home with a counteroffer is something that can either keep the negotiations moving forward to cut them off completely. One of the reasons that it's beneficial to hire a real estate agent to sell your home for you is that he or she can provide guidance with the amount of your counteroffer. Generally, a buyer's offer will be below your listing price, and you'll then respond with a counteroffer that is higher than the initial offer but lower than the listing price. This isn't always the route that you'll take, though. Sometimes, you should counteroffer at your home's full listing price. Here are some times to do it.
Your Agent Believes There's Enough Demand
Demand for a house determines its listing price, to a large extent. While it might seem a little offensive to submit a counteroffer at your home's full listing price, doing so is advisable if your real estate agent firmly believes that there's enough demand for your property. For example, if your initial listing price is $350,000 and a buyer has offered $325,000, your agent might be adamant at coming back with the original price of $350,000 if he or she believes other buyers will offer around that price.
You've Priced The House To Sell
Sometimes, sellers will price their homes under market value in an effort to sell quickly. When you've taken this path, you may not want to entertain offers that are well below your listing price, given that it's already been set at a level that is more than fair. For example, if you've listed the house at $215,000 but the market suggests that it could go for $225,000, you're likely in a big hurry to sell. You can feel comfortable countering with the full listing price because the buyer is already getting a good deal.
You're Not In A Rush
Conversely, you might not be in any real rush to sell, and this means that you won't want to settle for less than you feel your home is worth. If your real estate agent's market analysis has suggested that your house is worth what you're listing it for, there's little reason to accept an offer well below that number — especially if you're content to stay in the residence and turn down offers until the right one comes along. Don't be afraid of countering at the home's full price in this scenario.
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