Quick offers no cause for alarm
7 August 2006
Homeowners who plan to sell usually list a market-related price and a quick transaction as their top priorities, but all too often they develop grave misgivings if their wish is granted and they receive a strong offer shortly after listing.
As most seasoned estate agents know only too well, sellers in such a situation almost immediately conclude that their asking price was too low and opt to hold out for a better offer, says Berry Everitt, MD of the Chas Everitt International property group.
"Sadly, however, a better offer usually does not come along and the property languishes on the market. And eventually, frustrated by delays, the seller is reduced to accepting an offer much lower than the original one."
He says that sellers should thus not be too hasty to believe that a quick offer means their asking price was too low.
"What it is more likely to indicate is the increasing efficiency of the real estate marketplace. These days, technologically capable agents are able to give many prospective buyers almost instant access to new listings - and savvy buyers are quickly able to evaluate and act on a competitive asking price."
A quick first offer that is slightly below the asking price should not be rejected out of hand either, but should be viewed as the starting point for negotiations, Everitt says.
"Buyers these days are much more likely to test the water by offering slightly less than they are really prepared to pay and skillful negotiation by an experienced estate agent may well result in second offer that will satisfy the seller - and allow him to get on with the job of finding a new home."
Issued by Chas Everitt International
For further information call Brenda Smith at
Chas Everitt International Bryanston on 011 463 2033
or visit www.chaseveritt.com