“Throwing Out Offers” Does It Really Work?

“Throwing Out Offers” Does It Really Work?

When I sit down to write an offer almost every single new buyer wants to “throw out an offer.”  This number isn’t based on comparables and market conditions, this number is usually random, a number pulled from mid-air, a number they would “like” to pay for the house, a number they feel would be an incredible “deal or steal,” usually a number well below market value.

Yes, it’s true market values have declined, but a lot of homes in Wellington Florida are still selling in a day and multiple offer situations are not a thing of the past. However, if you are still one who watches the news you won’t see this being reported.

Over the past 18 months, 93% of my clients have been in a multiple offer situation.

79% of my clients have gone under contract on a home within 24-48 hours of it being placed on the market.

71% of my client wanted to “throw out an offer” and the ones that chose that method regrettable lost the home to another buyer.

In my entire career, I have never had a buyer successfully “throw out an offer” and have it accepted, but I’m speaking from my experience over the past nine years.

Sellers and buyers usually have access to the same market information. Some sellers chose to ignore the information and overprice their house, which usually ends up sitting on the market. Then some buyers chose to ignore the information and “throw out an offer,” which once again I’ve never seen work.

If you are a serious buyer looking to purchase a home I highly recommend reviewing the facts and discussing a strategy with your real estate agent before you regrettably lose a home by “throwing out an offer.”

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About the Author

Top Wellington Realtor, Michelle Gibson, wrote: “Throwing Out Offers” Does It Really Work?

Michelle has been specializing in residential real estate since 2001 throughout Wellington Florida and the surrounding area. Whether you’re looking to buy, sell, or rent she will guide you through the entire real estate transaction. If you’re ready to put Michelle’s knowledge and expertise to work for you call or e-mail her today.

Areas of service include Wellington, Lake Worth, Royal Palm Beach, Boynton Beach, West Palm Beach, Loxahatchee, Greenacres, and more.