If you’ve done much reading on how to sell a home, you may have come across the statement that “your first offer is always your best offer.” But, does this really have any validity to it, or is it just another urban myth?
Depending on just how motivated you are as a seller, you might want to jump on the first (or any) offer that comes along – especially if the dollar figure is anywhere close to the ballpark of what you are asking.
The reality is, though, that when it comes to the “first is best” theory, there can actually be some validity to it.
Whenever a new listing hits the market, there is a proverbial “pipeline” of potential purchasers who have already been searching for their next home for some time. Because of this, if your home for sale meets their criteria, it is possible that they will not only make an offer on your home, but that the offer will be within your price range.
One of the key reasons for this is because – particularly in a seller’s market – these potential buyers have already seen numerous homes come and go, and they won’t likely want to let another one slip through the cracks.
In order to help ensure that you don’t scare possible purchasers away, it is important that you start your list price in an acceptable range that fits in with what your property has to offer in your particular location.
Considering a move soon and need more advice on how to set your initial asking price? Give us a call. We’ll work with you on getting all of your information in place, starting with a no obligation home value analysis, along with a marketing strategy that is custom fit for you.