CONTACT

Your first offer is almost always your best offer, even if it's early

Your first offer is almost always your best offer, even if it's early.


Receiving an early offer on your home is not a sign that you've done something wrong. It's more likely a sign that you've done some things right.


Across my career, when I've seen sellers reject an early offer because they felt it happened too quickly, most times they ended up settling for less later on.


Take that first early offer seriously. It's most likely the best opportunity you'll have to control your price and terms.


This video explains why.



Transcript

Often times when a seller puts their home on the market, they're prepared for a longer marketing period. They know that the market's experience and weakness over the last few years, and they think, "Well, this is gonna take some time."


Sometimes, especially when a seller has taken the time to properly prepare their home for sale, and they've hired a good agent who takes pride in presenting that home well and getting the word out in an effective way, sometimes a seller will receive offers fairly early on.


They sometimes tend to see that as a bad thing, they think they've made a mistake. Maybe they've underpriced the property. There's no way that this should've happened so quickly.


In fact, an offer that comes to you quickly is a sign that you've done things right, and you need to step back and think about the situation. Remember, you've done your due diligence prior to putting the home on the market. You've looked at what's for sale, you've looked at what's sold recently, and you've made a sound decision on how to price that property, and you've put all the work into preparing it well.


The fact is, is that the people who will look at your home over the first week, two weeks that it's on the market are the best prospects that you're going to show your home to over the whole time that your home is for sale. They've been in the market for a period of time. They've looked at everything that might meet their needs and they've found nothing yet, so they know that homes like yours are not a dime a dozen. They can see that they can move into this property, that it doesn't need a lot of work, and it's attractive to them so they make you a good offer.


Mark my words, your first offer is almost guaranteed to be your best offer. I've seen this scenario unfold a number of times over my 27 years in the business. A seller has this knee-jerk reaction, "Oh my God, I've made a mistake. "I need more time." They reject this offer outright, and they end up, two months down the road, incurring a whole bunch of additional expenses, looking at offers that aren't nearly as attractive.


Your first offer is almost always your best offer. Take it very seriously.


I'm not saying that you shouldn't counter offer, that you shouldn't try to negotiate a better deal for yourself, but know that you're dealing with the best buyers that you're likely to encounter the whole time that you're listed for sale.


________________________________


I'm upping my Facebook and Instagram game. Follow me to receive updates on the Saskatoon real estate market and insights I've gained managing thousands of real estate transactions.


TeamFisher.com hosted nearly a quarter of a million user sessions and displayed more than 1.2 million pages to our visitors in 2019. If you have a Saskatoon area home you'd like to sell, we know how to get people looking at your home. Reach out to me directly to engage our team and learn about our processes.


I’m always happy to answer your Saskatoon real estate questions.  Reach out by voice or text at 306-241-6676 or email me at norm at teamfisher.com


Norm Fisher

Royal LePage Vidorra

Comments:
No comments

Post Your Comment:

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Posts By Date
The Saskatoon Region Association of REALTORS® (SRAR) IDX Reciprocity listings are displayed in accordance with SRAR's MLS® Data Access Agreement and are copyright of the Saskatoon Region Association of REALTORS®.
The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.
Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.
MLS® System data of the Saskatoon Region Association of REALTORS® displayed on this site is refreshed every 2 hours.
Google Analytics Alternative