What to consider when negotiating an offer on your Tulsa home for sale
Recently my Sellers received an offer on their Tulsa home for sale. The offer was $25,000 less than their list price, and their home had been on the market for four months.
They did take their Tulsa home for sale off the market for a month to renovate: new wood flooring, new carpet and new – more neutral – interior paint. And they made the investment to have their Tulsa home for sale professionally staged.
According to the absorption rate in their subdivision, there is a one-year supply currently listed for sale. That’s a high inventory with a limited pool of qualified Buyers.
Although they had made multiple improvements to their home, the fact still remains that there are nine other properties for sale in their subdivision with an average of one property selling per month. What IS that “bird in the hand” really worth?
It’s worth the end of mortgage payments, utility payments and lawn maintenance – and throw in some peace of mind. The next offer may be better, but it could be worse. There is no way for me to predict that – all I can advise is that if we negotiate this offer to something we can live with, we’re done.
So, we offered a “gentleman’s counter,” which is simply splitting the difference of the amount listed and amount offered. It’s possible that we could have countered at a higher amount, but each time a Seller counters, you open an opportunity for the Buyer to move on to another property.
While we’re negotiating, did another property the Buyers were considering reduce its price to be in their desired price range? Did they continue to shop and find another Tulsa home for sale that they like as much?
It is an emotional experience negotiating your Tulsa home for sale. Try to remove the importance placed on the sales price and look at the big picture. There are nine other Sellers in your subdivision wishing THEY had been the one picked.
That bird in the hand is worth more than you think, and your first offer is usually your best offer. I’m very fortunate to have Tulsa home Sellers able to see that big picture!
