{"id":11284,"date":"2019-06-17T08:36:07","date_gmt":"2019-06-17T12:36:07","guid":{"rendered":"https:\/\/www.zolo.ca\/news\/?p=11284"},"modified":"2025-12-16T09:55:48","modified_gmt":"2025-12-16T14:55:48","slug":"dealing-with-offers-on-your-home","status":"publish","type":"post","link":"https:\/\/www.zolo.ca\/blog\/dealing-with-offers-on-your-home","title":{"rendered":"Dealing with Offers on Your Home"},"content":{"rendered":"\n

Selling your home is like riding a roller coaster. You start with hesitant anticipation as you begin the process of getting your home ready to list. Then the sign goes up and your house is listed on the MLS. That\u2019s when things start to slow down. Days pass, perhaps weeks. There are viewings, but no offers. Things start to feel bumpy and you start to feel out of control. That\u2019s when the offer \u2014 or better still more than one offer \u2014 starts to come in. Then the roller coaster starts all over again.<\/p>\n\n\n\n

Here are some essential strategies that will help you deal with offers on your home and keep you in the driver\u2019s seat.<\/p>\n\n\n\n

Never Forget to Counter<\/h2>\n\n\n\n
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In slower markets, when buyers have the upper-hand, some potential shoppers will try and test the waters by offering low-ball bids. This is not the time to let emotions rule. Rather than be insulted, counter the offer. Sure, you may have to come down in price, but the buyer will have to come up, as well.<\/p>\n\n\n\n

Be mindful, however, and do your due diligence. Unethical agents will use a staggered bids strategy \u2014 a less-than-honest sales tactic to get a seller to reduce their price and agree to a sale.<\/p>\n\n\n\n

It works after your home has been on the market and you\u2019ve had a few showings. That\u2019s when your Realtor will call to tell you about a potential buyer but with an explanation that the offer is really, really low. Most sellers will reject the offer without hesitation and most don\u2019t even bother to counter the offer. Unethical Realtors expect you to do this.<\/p>\n\n\n\n

A few days later, your Realtor calls again with another potential buyer, but this time the offer price isn\u2019t as low, but it\u2019s still significantly less than your asking price. This time you take a little longer to reject it.<\/p>\n\n\n\n

Wait a few more days and your Realtor will phone one last time. Yet another has come in. Better still, it\u2019s a formal bid with a signed Purchase and Sale Agreement. Even though it\u2019s still below your list price, it doesn\u2019t sting because you were already psychologically massaged into lowering your expectations.<\/p>\n\n\n\n

There\u2019s nothing inherently wrong with this practice as long as the first two bids were real. But unscrupulous Realtors have been known to fabricate staggered bids to convince you that a bad offer is actually a good deal.<\/p>\n\n\n\n

How do you avoid this from happening? Always ask to see an offer in writing. If there is no offer in writing \u2014 some buyers won\u2019t spend an hour or two filling out formal paperwork if there\u2019s a good chance their offer will be rejected \u2014 then ask your agent for more details. Ask how fast a closing the buyer wants? What conditions will the buyer add to the offer? And what fixtures or appliances does the buyer want as part of the deal. The actual details aren\u2019t important. What is important is whether or not the details sound realistic enough that a buyer really is attached to these verbal offers.<\/p>\n\n\n\n

Of course, if it all pans out and numerous buyers end up offering you less than your asking price, you may have to swallow that bitter pill and accept that market values your home less than you do, at this point in time.<\/p>\n\n\n\n

Discuss All Offers<\/h2>\n\n\n\n
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If you are a first-time home seller, then make sure you have a trusted friend, family member, lawyer or real estate agent with you to discuss the details of every offer. Talking to someone you trust or working with a professional helps you to remove the emotion and focus on the important aspects of each offer.<\/p>\n\n\n\n

If you\u2019re working with an agent, you will also probably get professional advice on the next steps to take.<\/p>\n\n\n\n

Take Charge of Conditional Offers<\/h2>\n\n\n\n
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As sales activity slows and more real estate markets end up in a buyer\u2019s market, sellers will need to become more accustomed to conditions in purchase offers.<\/p>\n\n\n\n

In real estate there are two types of offers:<\/p>\n\n\n\n