Keep Sellers Focused: Savvy Responses to Lowball Offers

About to present another too-low offer to your clients? Turn sellers’ frustration into a potential sale by sharing free tips on fielding lowball offers from the July “Get Your Home Sold” article package now at the REALTOR® Content Resource. Start with these two tips:

1. Check your emotions. A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that’s a counteroffer or an outright rejection. Remain calm and discuss with your agent the many ways you can respond to a lowball purchase offer.

2. Counter the offer. Unless you’ve received multiple offers, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay, or they want to test your limits. A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances you’d like to take with you.

Also covered in the July “Get Your Home Sold” article package now at the REALTOR® Content Resource are tips on keeping your home sale from falling apart, reducing your home’s price, choosing the best offer for your home, and ensuring a profitable closing.

The REALTOR® Content Resource is an exclusive NAR member benefit that entitles you to download free homeownership content to your consumer Web site, blog, or e-newsletter. HouseLogic is the National Association of REALTORS’® no-topic-left-uncovered consumer Web site geared to helping home owners make smart decisions to maintain, protect, and increase the value of their home.

Brian Summerfield

Brian Summerfield is Manager of Business Development and Outreach for NAR Commercial and Global Services. He can be reached at bsummerfield@realtors.org.

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