What should you do when you get an offer right away? Today, we address this question that sellers have frequently asked in our current market!
Receiving an offer on your home as soon as you list is a great problem to have. It can be especially helpful to think of your home as a product in this situation. If someone walked into your business and expressed interest in what you're selling, you wouldn't ignore them or treat them poorly, and you shouldn't do that if someone makes an offer on your home. However, getting an offer on your home causes a dilemma: people usually think that they should wait to see if they get more offers.
When the market is on the rise, you can make a mistake by messing up that first offer or failing to respond in a reasonable fashion. Lately, we've seen sellers get overconfident and sit on the offer, which often leads to the buyers backing out and the sellers are left with their listing and no offers.
Our advice is to be prudent when you receive an early offer. If you're working with a good agent, they will advise you to the best of their abilities on the right action to take. However, the general rule in real estate is your first offer is your best offer! You don't need to take it right away, but you need to give that first offer a lot of consideration and try to negotiate it to where you want it!
If an offer comes in quickly, it doesn't mean there will be many more to follow! If you have questions about this topic, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!