Current Seller Myth
Here's the myth: A first strong offer means you priced too low.
On the surface, this makes sense. When your first offer comes through and it’s a good one, you might be wondering if you're missing out on higher offers that would have come through if you had just priced your home higher.
But don't fall for this myth! A strong first offer is actually a sign that your real estate agent’s pricing strategy is working perfectly.
lt means that your home has attracted its target buyer with its price and marketing. And when the first offer you receive is strong, there’s a good chance the buyer is excited about the home and dedicated to their offer, which will make your life as the seller so much easier.
And a strong first offer is exactly what you want in our market because it means you can set up a bidding war between buyers. You can wait to see what other buyers are interested in your property and then let them know that you already have an amazing offer on the books, and that if they want the property, they'll have to beat the offer.
This can make the other buyers increase their offer amounts or add in other incentives to get you to choose them. And even if a bidding war doesn't happen, you'll still have a solid offer on the table that meets all of your needs and gets you exactly what you were looking for in a buyer.
So if you put your home up for sale and then get a really strong offer first thing, don't feel like you're missing out on higher offers. Instead, celebrate! All of the hard work that you and your agent have put into getting the home on the market, advertised, and priced well is working, and you'll have your home sold before you know it.
If you have questions about selling your home or about any other real estate myths going around, just send me a text or email!