Full-Price Counter Offers in Buyer's Markets
In any type of real estate market, there are dozens of reasons why a seller might counter at full price, and let's not discount stubbornness as a likely reason. When you receive an offer from the seller -- any offer -- the message that offer is conveying is one of negotiation. It doesn't mean "go away, you knucklehead." It means the seller is open to discussing particular aspects of the purchase offer, including price.
Realize that sellers are not required to respond to a purchase offer for less than full price. There's no reason to issue a counter offer at list price, unless a seller was willing to negotiate, because a seller can simply ignore your offer for less. Sellers don't even have to formally reject it. Ignoring, rejecting or countering at full price all accomplish the same thing with one small difference. Where there's a counter, there is life in the negotiations. So if sellers go through the trouble to issue counter offers, even full-price counters, smart buyers will keep the conversation going . . . read more about full-price counter offers.
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Comments
Depends on how the home was listed. Homes can be listed high or low. If it was high I would encourage the buyer to maybe not come up in price. If it was listed low, I would encourage the buyer to come up in price. Well priced homes typically get better offers.
That’s true, Chris. It does depend on how realistic the pricing is, but I’m seeing even unrealistic pricing get full-price counters. Sometimes you have to beat those sellers over the head with a stick to get them to see reason. Of course, I like to think when they’re my sellers, they are better counseled. Heh, heh.