Ignite FB Tracking PixelWill Your Counter-Offer Meet a Homebuyer's Expectations? - Dara Lewis
Will Your Counter-Offer Meet a Homebuyer's Expectations?

by Dara Lewis 12/31/2018

If you receive an offer to purchase from a property buyer and decide to submit a counter-offer, it is important to err on the side of caution. Because if your counter-proposal fails to meet a buyer's expectations, you risk missing out on the opportunity to sell your house and maximize your home sale earnings.

When it comes to reviewing an offer to purchase and submitting a counter-proposal, it helps to prepare as much as possible. Fortunately, we're here to help you perform a full analysis of a homebuying proposal and ensure that you can submit a counter-offer that matches the expectations of both you and a buyer.

Now, let's take a look at three tips to help you put together a "fair" counter-proposal to a buyer's offer to purchase your home.

1. Use Housing Market Data to Your Advantage

Take a look at local housing market data – you'll be glad you did. If you take a data-driven approach to craft a counter-offer, you may be better equipped than ever before to put together a counter-proposal that meets the needs of all parties involved in a property sale.

Analyze the prices of recently sold houses in your city or town that are similar to your own. Furthermore, find out how long these residences were available before they sold. With this housing market data in hand, you should have no trouble crafting a fair counter-proposal.

2. Consider the Buyer's Perspective

As you examine a buyer's initial offer to purchase, think about why this individual chose to submit the proposal. Try not to get emotional if you feel the offer is too low; instead, think about how you can work with a buyer to find common ground.

Oftentimes, it helps to maintain open communication with a buyer. If you put together an counter-proposal that accounts for the buyer's perspective and keep in touch with this individual, you and a buyer may be able to work together to come to a fair agreement.

3. Consult with a Real Estate Agent

If you are unsure about what to propose as part of a counter-offer, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the assistance you need to craft a counter-proposal that may lead to an instant "Yes" from a buyer.

Usually, a real estate agent will inform you about an offer to purchase your home and provide recommendations and suggestions as you craft a counter-proposal. He or she also will negotiate with a buyer's agent on your behalf. And if you ever have concerns or questions during the property selling journey, a real estate agent is happy to address them.

Allocate time and resources as you craft a counter-offer. If you consider the current state of the real estate market and the buyer's perspective, you could increase your chances of putting together a counter-proposal to close a deal on your home. Perhaps best of all, you can submit a counter-offer that allows both you and a buyer to achieve your respective goals faster than ever before.

About the Author

Author
Dara Lewis
Dara Lewis re-joined the housing industry in 2015 after two years of living in the Caribbean. Her previous experience includes over 12 years in the multi-family housing industry within North Carolina, Ohio, Kentucky, and Indiana-managing, and leasing apartment communities for REIT's, as well as individual owners/investors. Now a licensed realtor in Maryland, Dara obtained her ABR (Accredited Buyer Representative) and NAR green professional designations in 2016, and has been a member of WOMEN'S COUNCIL OF REALTORS since 2015. At the beginning of 2018, Dara is proud to have successfully achieved membership into the Real Estate Million Dollar Association (REMDA). Dara is an active member of Trinity Church in Towson, is the volunteer coordinator of the Towson High School Sports Boosters Bull Roast and enjoys assisting the Towson High School Music Boosters whenever possible. Dara is a graduate of Shenandoah University in Winchester, VA, and enjoys traveling around the world, as well as watching her sons play soccer from the sidelines. Dara is ready and excited to help you with all your real estate needs. Read More Specialties and Designations Works With First Time Home Buyers, Country Homes, Resale Residential, Suburban Living, Urban Living, Single Family Homes and Townhomes ABR Cities Served Baltimore, Bel Air, Cockeysville, Cockeysville Hunt Valley, Forest Hill, Glen Arm, Hereford, Loch Raven, Lutherville, Lutherville Timonium, Monkton, Owings Mills, Parkton, Parkville, Perry Hall, Pikesville, Reisterstown, Ruxton, Sparks, Timonium, Towson, Westminster, White Hall, White Marsh Counties Served Baltimore, Carroll, Harford, Baltimore City