Don’t Dismiss Your First Offer Too Quickly

A lot of sellers assume that the first offer should automatically be rejected. The property has only just come onto the market, so surely there will be another buyer willing to pay more?

Sometimes there will be. But sometimes that first offer really is the best offer you are going to receive.

When a property first comes onto the market, it is fresh. Buyers who are actively looking will notice it, interest is at its highest and motivated purchasers will want to view. If the property has been priced correctly, some of the strongest interest can come within those first couple of weeks.

That is why I would never dismiss a good first offer simply because it arrived quickly.

If it is lower than you hoped for, that does not mean you have to accept it immediately. There is normally an opportunity for your agent to negotiate and see whether the buyer will improve their position.

I have seen sellers reject a strong first offer believing that something better would come along, only to receive lower offers later. In one case, the original offer was never matched and the property eventually sold for considerably less.

When considering an offer, also think about what you are trying to achieve with your overall move. The important figure is often the gap between what you sell for and what you need to pay for your next property.

Sometimes the first offer really can be the best one.