Embarking on the home selling journey is a huge undertaking which can be stressful at times. When an offer is submitted for your property, you may feel pressured to accept to keep the process rolling. However, it’s beneficial to review instances when it may be best to decline an offer, so you can maximize your earnings.
The housing market in your city or town is a major factor in the property selling journey. If you're selling your residence in a buyer's market, you likely face steep competition, meaning you may have to make adjustments to the price of your listing or be more open to a variety of offers.
Comparatively, if you're operating in a seller's market, there’s an abundance of buyers and a shortage of sellers in place. With these conditions it may be more beneficial to decline an undesirable offer as other potential buyers may submit a more favorable offer.
Before listing your home, it’s vital to examine your home’s strengths and weaknesses to get a better understanding of how these may tie into the offers you may receive.
For example, if your home is newly renovated and is located near popular attractions, it may be best to decline a low offer as these positive aspects of your home are more likely to draw in other potential buyers who may offer more.
When in doubt, it’s best to consult a real estate agent, who can provide professional guidance on whether an offer is best accepted or left on the table. They can compare market trends and similar homes being sold in your area to help you determine if an offer is fair or falls short of expectation.
Even though the decision to accept or decline an offer for your home can be tough, doing research and relying on expert advice can help guide your choice.
Ted draws energy and joy from building synergetic relationships with his Clients. Ted's nature is graciously gregarious and persevering; he's honest; and he's been dedicated to a substantial list of clientele throughout his 25 years in the hospitality business and almost two years as a REALTOR. His passion is creating a sincere, successful relationship with people.
Ted grew up in a family of Realtors in central Indiana, earned a degree in economics and philosophy from the University of Notre Dame, and jumped into all aspects of the restaurant business. His ensuing hospitality career path eventually led him into the Event Management Sales & Service role in hotels and quickly guided him to Los Angeles, San Francisco, and finally to a luxury resort in the Napa Valley, where he, his husband, and their dog have resided for almost a decade now.
The irony is not lost on Ted that his ‘growth’ journey has culminated in“living happily ever after” in an agricultural area with a small-town feel and sense of community strikingly reminiscent of his youth…and as a REALTOR nonetheless!