Tulsa Home Sellers - Pick your battles when you counter an offer

By
Real Estate Agent with Chinowth & Cohen Realtors License #142914

Tulsa Home Sellers - Pick your battles when you counter an offer

When you counter an offer on your Tulsa home for sale, you are not guaranteed a counter back - please keep this in mind, and pick your battles when you counter an offer. Battle in Tulsa real estate negotiation

Although rare, there have been three times in my real estate career that the Buyer chose NOT to counter back.

The most memorable incident was when Mike and Gabbi asked for the electric overhead garage door opener to be repaired. The Seller said that an electric door opener never existed - although we could clearly see the tracks and beams - AND there were no external handles on the garage doors to open them manually. Long story short, my Buyers were insulted at the Seller's dishonesty and within half a day had picked out another house upon which to make an offer. The Seller of our original offer refused to spend $100 on an electronic garage door opener, and his house sat on the market multiple additional months. It worked out well for Mike and Gabbi in the long run.

Next counter that comes to mind was bled all over. The Seller countered on the sales price, closing costs, closing date, repair cap, amount he would pay towards home warranty and more. He changed almost every aspect of our offer. That irritated my Buyer as well, and he decided to return to another property we had viewed earlier and wound up making an offer on it instead.

We normally expect a counter. But please choose your battles, because when you DO counter, you open a window of opportunity for the Buyer to move on to a different and better property.

If you MUST counter, consider countering on sales price alone - not sales price and closing costs. If you need to reduce the repair cap in the counter, that's okay, but don't nix the home warranty also.

And in the 3rd instance I want to share, my Buyers continued to surf the internet while waiting for our counter. A property that they loved had gone under contract and suddenly appeared back on the market. After receiving our counter, we were free to pursue another option, and we did so. We put an offer on the home that had come back on the market.

The rule of thumb is that the first offer you receive will be your best one. As days on market increase, your offers will become less attractive.

So, don't scoff at your first offer - and you might consider accepting it in its original form. Or if you must counter, choose your battles carefully.

Copyright 2011 Lori Cain All Rights Reserved - Originally Posted at: Midtown Tulsa Real Estate - Lori Cain

Posted by

_______________________________________________________________________________________________________

Let's Get Connected!

Lori Cain on Google Plus Lori Cain on Pinterestyou tube logoFacebook logoTwitter logoLinkedIn logoRSS logo


Please visit my web site if you are shopping for Tulsa homes for sale or call 918-852-5036 for more information about Midtown Tulsa Real Estate. In addition to my advanced grasp of the internet to market your Tulsa home for sale, I include a home staging consultation with every listing AND professional photography - at no aditional cost to you!

Lori is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa area and specializing in downtown Tulsa and midtown Tulsa real estate.

 Google Me

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Groups:
Addicted to Active Rain
Advice for Sellers
Dedicated Bloggers
Diary of a Realtor
Realtors®
Tags:
real estate counter offers

Anonymous
Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
656,515
Realty Works Temecula
Realty Works Temecula - Temecula, CA
Real Estate, Temecula, Murrieta, Menifee

Lori:  Great advice for sellers in every area where there is competition.  One never knows when a buyer will be turned off by too many items being countered.

Nov 02, 2011 10:14 PM #1
Rainmaker
504,629
Lori Cain
Chinowth & Cohen Realtors - Tulsa, OK
Midtown Tulsa Real Estate Top Producer

Jane - it's such an emotional experience for both buyers and sellers - I try to encourage my clients to be fair and treat the other party how they would like to be treated. :)

Nov 03, 2011 11:21 AM #2
Anonymous
Post a Comment
Spam prevention
Show All Comments
Rainmaker
504,629

Lori Cain

Midtown Tulsa Real Estate Top Producer
Happy to answer your real estate questions!
*
*
*
Spam prevention

Additional Information