This is really a real estate “truth” because the only thing that matters to a Seller is an offer and there is nothing more influential than the first offer a Seller receives. Real estate professionals are driven to put a sale together, we are in the business of selling homes so the first offer that a seller receives on their home is usually with a lot of energy from all parties to make it work:
“The first offer is always your best offer.”
Of course, this isn’t true in every situation, but there are reasons why agents believe this, and why they often suggest that sellers either accept the first offer or at least give it serious consideration.
First Offers Make a Big Impact on Sellers
Sellers are hoping after every call or showing Will they make an offer?
Ready Buyers are often the ones who write the first offer a seller receives on a property. And that’s why their offers should be taken seriously.
Ready Buyers are finding the home first, touring it first, and making the first offer. Listing agents know the strength and commitment of these Ready Buyers. I work diligently to help my buyers became the Ready Buyer
Listing Agents will educate their Sellers about how strong the Ready buyer is for their home. The listing agent will tell the seller how this buyer will want to get in and see the property ASAP. Since they’re so familiar with the market, they’ll be able to tell once they step foot inside if it will work for them, if it’s priced right, if it shows well, and if it’s in line with present or past comparable sales. If the property meets their criteria, the Ready Buyer, armed with all their knowledge and motivation, will make an offer.
The Ready Buyer has the Advantage
The first offer from a Ready Buyer may not come in within days of a property going on the market. Again, the Listing Agent knows the Ready Buyer is an informed buyer who is knowledgeable of the market. If a home is priced too high and a month or two goes by without an offer, it will be the Ready Buyer who has been watching the market and listing. I work closely with my Buyers to watch homes they feel are overpriced. If we learn that there aren’t any offers on it and there is no activity after some time, the offer from my Buyer will come in with an aggressive or below list price offer, which I will sell to the listing agent as a good strong offer, on the seller’s home.
The role of a buyer’s agent is to sell the Ready Buyer as the best buyer for the property. I strive to present my buyers as the strongest and best buyer. I answer the questions before they are asked. The Seller is going to look closely at any offer especially the first offer. I want the Listing Agent and Sellers to known about your interest in buying the home: Who is the buyer? How long have they been looking? Have they written other offers nearby? Are they working with a good local agent? Does the offer come with a pre–approval letter? Is this offer actually a number that is close to the number your real estate agent initially suggested?
Serious sellers want to sell, and my goal is to always promote my Buyers as committed and ready to buy. As your buyer’s agent I work hard to earn your trust and confidence. However, as a buyer, trust the phrase that the seller is ready to look hard at the first offer. It’s really one of the real truths in real estate, “The first offer is always your best offer.”