The time has come to sell, we meet with our clients, we discuss the marketing process and establish a marketing price. After several Open Houses, advertisements and networking calls, another associate prepares and presents an offer. However the offer is lower than you hoped – Much Lower.
This leads to the Seller and listing broker feeling insulted and or angry. The emotions are normal however we need to try to focus on our options and carefully review all the aspects of the offer. So where so we go from here??
With a full understanding of the offer including it’s terms, we now have two choices: Completely reject it or make a counter offer.
If we reject the offer outright and not entertain a sign back, we run the risk of the Buyer not appoaching the negotiating table a second time and no chance to discover that a simple misunderstanding is behind the Buyers offer price. If after review, it’s established that there is absolutely no reason to work with the offer, an “Offer Presentation-Acknowledgement form 109“ from our Realtorlink Web Forms needs to be filled out and presented to the buyer. This form shows the buyer that the offer was presented and rejected.
My opinion? Remind ourselves that if the buyer truly didn’t like the home and weren’t serious, they would never consider making an offer. If we’re truly serious about selling, it’s imperative to get into the reasons of the original low offer and with a level head begin the process of re-educating the buyer or buyers agent on the area values and features. This is what makes us the Number one negotiators and rarely has a counter offer not brought a favorable result.
After all their reasoning behind their offer may very well be based on what they read and or the media tells them.
Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage
Filed under: Career Building and Coaching, Home Seller tips Tagged: | Career Building and Coaching, Home Buyer tips, Home Seller tips, Toronto Real Estate Update
