If you receive an offer to purchase from a property buyer and decide to submit a counter-offer, it is important to err on the side of caution. Because if your counter-proposal fails to meet a buyer's expectations, you risk missing out on the opportunity to sell your house and maximize your home sale earnings.
When it comes to reviewing an offer to purchase and submitting a counter-proposal, it helps to prepare as much as possible. Fortunately, we're here to help you perform a full analysis of a homebuying proposal and ensure that you can submit a counter-offer that matches the expectations of both you and a buyer.
Now, let's take a look at three tips to help you put together a "fair" counter-proposal to a buyer's offer to purchase your home.
1. Use Housing Market Data to Your Advantage
Take a look at local housing market data – you'll be glad you did. If you take a data-driven approach to craft a counter-offer, you may be better equipped than ever before to put together a counter-proposal that meets the needs of all parties involved in a property sale.
Analyze the prices of recently sold houses in your city or town that are similar to your own. Furthermore, find out how long these residences were available before they sold. With this housing market data in hand, you should have no trouble crafting a fair counter-proposal.
2. Consider the Buyer's Perspective
As you examine a buyer's initial offer to purchase, think about why this individual chose to submit the proposal. Try not to get emotional if you feel the offer is too low; instead, think about how you can work with a buyer to find common ground.
Oftentimes, it helps to maintain open communication with a buyer. If you put together an counter-proposal that accounts for the buyer's perspective and keep in touch with this individual, you and a buyer may be able to work together to come to a fair agreement.
3. Consult with a Real Estate Agent
If you are unsure about what to propose as part of a counter-offer, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the assistance you need to craft a counter-proposal that may lead to an instant "Yes" from a buyer.
Usually, a real estate agent will inform you about an offer to purchase your home and provide recommendations and suggestions as you craft a counter-proposal. He or she also will negotiate with a buyer's agent on your behalf. And if you ever have concerns or questions during the property selling journey, a real estate agent is happy to address them.
Allocate time and resources as you craft a counter-offer. If you consider the current state of the real estate market and the buyer's perspective, you could increase your chances of putting together a counter-proposal to close a deal on your home. Perhaps best of all, you can submit a counter-offer that allows both you and a buyer to achieve your respective goals faster than ever before.
“I sell your home like it's mine”
A licensed real estate salesperson since 2016, Rob is affiliated with the Briarcliff Manor office of Corcoran Legends Realty. He serves buyers, sellers, renters, in Westchester, Rockland, and Putnam counties. Rob, a native of New York and Westchester County for most of his life, brings an extensive local knowledge of both residential and commercial properties to the table. His experience includes a wide range of property types – single-family, multi-family, condos and mixed use. “Hard to sell” properties is where Rob really excels. “There’s no problem that cannot be solved.”
Rob is certified for many different disciplines in real estate. Cartus Relocation Network Agent, AARP Agent, National Tenants Network (NTN) Agent, Green certified and Pricing Strategies Master. In addition, Rob has completed the Leader’s Edge Advanced training to better serve his clients. Rob has been both associate of the month and top closed dollar agent.
When you work with Rob, you get the feeling you’re his only client. Numbers don’t count, you do. Clients always come first. Each transaction is handled as if it were his own home. Rob strives to make the process as seamless as possible and takes care of all the details, no matter how small. His clients rave about his above-and-beyond service and prompt informative communication. Rob is easy going, friendly, and patient. However he can be a determined and aggressive negotiator when the need arises.
When not out actively working on behalf of his clients, Rob spends time with his wife and two teenage daughters. A devoted supporter of community he sits on several local boards and volunteers for numerous locale nonprofit organizations. He enjoys cycling, hiking, kayaking and winter skiing.
“May your price be right, and your sale be swift!”