Wednesday, September 9, 2015

Home Seller Tips: Should a seller take the first offer?

A few years ago the Florida real estate market was really down.   Back then almost any offer was a good offer.

But a shift has come. 

Now with the median days on the market in Brevard County down to about a month rarely does a move in ready property stay on the market very long before an offer arrives - very often on day one.  It is also not uncommon for sellers to receive multiple offers very soon after listing their home.

In my opinion, just as every buyer is different so is every offer. There is no correct answer to the title question.

Some subscribe to the philosophy of the first offer will be your best offer.   It could be but not always.

It will always depend on the buy and their motivation.  If the buyer is a searching for bargains a low ball offer may arrive first.  But if a buyer is motivated and needs to relocate then the first offer may be full list price or close to it.

So how does a seller evaluate early offers?  The same way a seller would evaluate any offer.  All offers should take into consideration things such as:
  • the circumstances of the sale (motivation), 
  • the timeline involved, 
  • any external pressures like moving a family or starting a new job, 
  • mortgage owed, 
  • the immediate competition,  
  • the terms of the offer (the offer is more than just price),
  • and any other peripheral issues.
Every sale is different.  There is no right or wrong answer to teh title question.

When a seller prices within reason and a buyer understands the market first offers can work out for all.

Considering selling your Viera or Melbourne, Florida home?  Call me at 321-693-3850 for a free market analysis.

Ready to buy a Florida home?  I want to help you!