Counteroffer Etiquette: Seller
United Country Midwest Lifestyle Properties real estate agents are an award-winning real estate group with unmatched experience and professionalism. We are dedicated to commanding the best price for your property. Today we share with you some counteroffer etiquette.
Frequently buyers counteroffer. This can ruffle some feathers for both the seller and the buyer. United Country Midwest Lifestyle Properties real estate agents will help you navigate the art of negotiating a buyer’s counteroffer. Let’s take a look at some factors that may affect your property receiving a counteroffer.
Art of the deal
A counteroffer (in real estate terms) happens when the seller has received an offer to purchase from the buyer and wants to make changes to that offer. In other words, the seller does not like the amount of money the buyer offered and is countering- looking for the best terms and price for their property.
As your real estate agent, I would tell my seller you have three options:
- You can accept the offer as it is.
- Make a counteroffer.
- Reject the offer.
You don’t have a binding offer unless someone agrees and signs. Counteroffers could go on for days, even weeks, with the hope of each new offer the dollar amount is getting closer to what each party wants. As your United Country Midwest Lifestyle real estate agent, it’s my honor to get you the best price and to give you the best advice.
Like Kenny Rogers said in his famous song, The Gambler, “You got to know when to hold ’em, know when to fold ’em …”
Sweeten the pot
Nobody wants the counter offers to carry on, so we have to be willing to negotiate. We have to sweeten the pot, and here are a few items that may get your buyer to sign on the dotted line:
- Did the buyer show interest in any personal property? Maybe you would be willing to sell it?
- Be open to paying for more or all of the closing costs.
- Be flexible with the closing date.
- Offer to pay for the home inspection.
- Gift certificate for professional home cleaning.
- Sell your appliances with the home.
- Offer to do additional repairs.
- Freshen the home’s look with a new coat of paint.
- Update hardware and fixtures.
Certainly, flexibility has its advantages, but we also don’t want to give away the store. There may come a point in negotiating that we may have to reject the offer and move on.
Lowballed
Let’s talk about a lowball offer. OUCH! That never feels good from a real estate agent’s perspective, and we know how much it feels like a punch in the gut to our seller. As with most stuff in life, taking the high road is the better approach. Let me share some graceful responses:
- DO NOT take this personally! At day’s end, this is a financial transaction. You need to sell your home, and someone is willing to buy it. They want it for the least amount they can get, and you want the most.
- Let me respond to the buyer for you. This will go a long way for possibly dealing with the buyer later. It will help you keep your emotions in check.
- If you think you are willing to work with the buyer, we will work together to design a strategic offer.
- Realize if you counteroffer their offer, you will probably get another counteroffer.
- We move forward with expectancy and await a better offer.
Put the squeeze on
Lastly, sometimes we have to flush a buyer out. Help them along… put the squeeze on to keep the real estate transaction moving in the right direction. How can we do this? We can set an expiration date for the counteroffer to be accepted. Everything in real estate is about negotiating.
United Country Midwest Lifestyle Properties real estate agents bring experience to all aspects of real estate selling transactions. From lowball offers to interesting contingencies, let us do the negotiating and take the emotions out of it.
Call United Country Midwest Lifestyle Properties real estate agents at (608) 742-5000.
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