Selling your home can be a rollercoaster of emotions, and sometimes, that ride takes an unexpected turn with an offensive offer. Yes, you read that right - offensive! We’re not talking about an offer that’s just a little low or a tad cheeky; we mean offers that make you question humanity and the sanity of the people involved. But fear not, dear sellers, for we’ve got your back. Here, we’ll guide you through the surreal world of offensive offers, how they relate to the shifting market, and help you figure out what to do and how to respond.
As a real estate professional I want the lines of communications with buyers to be open. When I meet a buyer agent who says the buyer won’t be submitting an offer to avoid offending the seller my eyes roll and I encourage them to bring it on! I have never had a seller go on a rampage over a low offer. However, here some things to remember when the low offer is presented.
1. Approach it with an open mind:
First things first, when you receive an offensive offer, take a deep breath. Remember, this isn’t a test of your self-control but rather a test of the buyer’s sanity. Before you respond, give yourself a moment to cool off and collect your thoughts. Remember receiving offers is better than no offers.
- Consider the Motivation:
Remember your own motivation for selling. Are you in this for the money or are you in this to move to your ideal new life? They don’t make any more time and you can always make more money later. The worst thing to do is to time the market and wait around caring for a house in hopes for the market to shift in your favor.
- Consult Your Real Estate Agent:
Your real estate agent is your trusty sidekick in the world of real estate. Lean on their experience and expertise. They can provide valuable insights and advice on how to handle the situation. You may find your agent has seen it all, from insulting offers to bizarre contingencies.
- Calculate Your Bottom Line:
Determine your absolute bottom line. What’s the lowest price you’re willing to accept for your property? Offensive offers might feel like a punch in the gut, but they can also serve as a reality check. If the offer is far below your bottom line, it’s easier to reject without any second-guessing.
- Understand the Shifting Market:
In a shifting market, offensive offers may become more common. Economic factors, changes in demand, and fluctuations in interest rates can all affect the types of offers you receive. Consider the current market conditions and how they influence the behavior of potential buyers.
- Know Your Buyer:
It’s essential to understand the kind of buyers your listing is attracting. Are they primarily investors looking for a deal, first-time homebuyers on a tight budget, or experienced buyers who are savvy negotiators? The type of buyer can shed light on why you received an offensive offer.
- Craft a Diplomatic Response:
Once you’ve assessed the offer and consulted with your real estate agent, it’s time to respond. Remember, maintaining professionalism is key. Even if the offer feels like an episode from a comedy show, your response should be dignified and polite. You can politely decline the offer and state that it doesn’t align with your expectations or the current market conditions.
- Be Open to Negotiation (Within Reason):
Sometimes, an offensive offer can be a starting point for negotiation. While you shouldn’t entertain ridiculous demands, you can indicate your willingness to negotiate if the buyer comes up to a more reasonable figure. This way, you maintain control of the situation and demonstrate your flexibility.
- Wait It Out:
In some cases, the buyer may come to their senses and realize the offer was, well, offensive. Patience can be a powerful ally. While waiting for a better offer, you can continue marketing your property and showcasing its value to potential buyers.
Conclusion:
Dealing with offensive offers in the real estate world is like encountering a bizarre creature in the wild – it might be shocking, but it’s part of the journey. Keep a cool head, consult your real estate agent, and respond with grace. Offensive offers can be an opportunity to showcase your professionalism and resilience as a seller, especially in a shifting market. And who knows, in the end, you might just have the last laugh when you find the right buyer willing to pay a fair price for your property. Happy selling!