Selling a home in Queens can be an emotional and stressful experience, especially when it comes to negotiating offers from potential buyers. One situation that Queens homeowners may face is receiving a low ball offer on their property. A low ball offer is an offer that is significantly lower than the asking price, and can be frustrating for homeowners who may feel insulted or discouraged. In this blog post, we’ll discuss how homeowners should respond to low ball offers when selling their home.
1. Stay Calm. It’s easy to get emotional when you receive a low ball offer on your home, but it’s important to stay calm and level-headed. Don’t let your emotions get the best of you, and avoid taking the offer personally. Remember, the buyer is trying to get the best deal possible, just like you are.
2. Respond Professionally. When responding to a low ball offer, it’s important to remain professional and courteous. Even if you feel insulted by the offer, avoid making any negative comments or getting defensive. Simply respond with a polite and professional counter offer, and keep the lines of communication open. You never know, we’ve seen buyers come in with low ball offers and then end up going over asking price when they realize there are competing offers.
3. Consider the Buyer’s Perspective. It’s important to remember that the buyer may have valid reasons for making a low offer. Perhaps they have a limited budget, or they may have identified issues with the property that need to be addressed. Take the time to consider their perspective and see if there are any areas where you can compromise.
4. Be Realistic. While it’s important to stand your ground and not accept an offer that is too low, it’s also important to be realistic. Consider the current market conditions, the condition of your home, and the competition in your area. If the buyer’s offer is in line with these factors, you may need to reconsider your asking price or be a little more reasonable with your counter offers.
5. Don’t Be Afraid to Walk Away. If the buyer’s offer is simply too low and you’re not able to come to an agreement, don’t be afraid to walk away. One strategy is that if an offer comes in way too low for you, you can just respond by saying that the offer is not acceptable and if they would like to get a counter, they will need to make a more reasonable offer. There will always be other potential buyers, and you don’t want to waste your time and energy on someone who isn’t serious about making a fair offer.
Receiving a low ball offer can be a frustrating experience for Queens homeowners, but it’s important to respond professionally and considerately. By staying calm, responding professionally, considering the buyer’s perspective, being realistic, and not being afraid to walk away, homeowners can navigate the negotiation process and find a buyer who is willing to make a fair and reasonable offer on their property. As we say in the business, you just need one buyer 🙂