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Nancy Hankin If the sellers are happy with the offer, it shouldn't matter. Sounds like someone has been watching too many TV shows and is a "professional" now.
Ridiculous. If the offer provides what they were hoping for when they listed, then accept it as long as it is strong with solid pre-approval and other terms.
White Plains, NY
Hi Nancy...good to see you again...I don't think there is any hard and fast rule totake or not take the first offer. If the reason to reject it....as opposed to counter it...which we do not ever advise...it is usually all about the money....and Sellers need to look at how realistic their own expectations are...and the cost of sitting on the market if they do not choose to take it. All the best of the new year to you !
Palm Springs, CA
I usually tell my clients when taking the listing not to be surprised if we get a very good offer immediately. Because there are Buyers out there that have seen everything that matches their criteria, nothing is quite right and they're just waiting for the perfect new listing. That advice prepares them well for such an offer.
That said it's always difficult to find a diplomatic way of saying your friends don't know what they're talking about.
No, the first offer isn't necessarily the best offer however when friends enter the picture with commentary like that I ask my SELLER. "See if those well intentioned friends will cover the spread between this great offer and the next one." From a BUYERS perspective I ask them to go full steam ahead when they want THAT home. The one you love is the one that often gets away if you don't.
The First Offer is usually The Best Offer.
In six weeks and the second offer never materializing, the answer will be self evident.
"Thanks to your friend, it appears the market place is now directing you to reduce the price."
I was about 8 years old when I learned statements containing always or never were false. That was immediately after announcing to my Dad, "You NEVER let me go to the Candy Kitchen!"
I have found the first offer is usually the best UNLESS: 1) There are multiple offers on the property 2) It is a very low ball offer. Time and time again I have proven the statement, "your first offer is often the best offer" to be true.
White Plains, NY
I agree with Jeff Pearl, if it's a great offer you don't want to lose it and be at risk of not getting another offer that's as nice.
It could be a low ball offer, but you can always counter. That is exactly what happened at my newest listing Nancy Hankin . We went into escrow yesterday. It had been on the market for over 2 weeks and no activity. The saying "A Bird in Hand is Worth Two in the Bush" is appropriate. I clicked LIKE.
Many times it is.
I think so.
Most of the time, this is true.
Your client's friends are idiots.
Not always, I usually wait at least one week for everyone to submit their highest and best. Sometimes highest is not the best.
Silly to ignore any offer. It's always better to have something solid rather than hope for something better... which may never come.
I have often heard that the first offer is usually the best offer and I usually advise my clients to strongly consider the first offer. I've known people who didn't and they regreted it later.
Usually, the first offer may be the best - since it came from the buyers who went ahead and wrote the offer compared to anyone else - showing their liking for the house.
However, at times, some buyers have a habit of writing discounted offers for ANY home - and you can easily find that out based on the offer.
Oh, yes, sellers can get a little overly excited with the first offer, if it comes in right away - I explain exactly what Jill Moog said above. Lightning may NOT strike twice and just because one buyer was excited does not mean a thing UNLESS, of course, you are in a hot market with multiple offers expected.
I have found that the 1st offer received is most often the best. This is true in part because those buyers have been waiting for a property like yours to come on the market. Who knows how long it will be before the next buyer comes along?
I have heard this dubbed "the curse of the first offer"... seller snubs the first offer due to not being emotially ready to let go yet or some other superstition. Hope you can work through it.
Also remember, the first offer might also be their only offer. As Roy says," if the offer fits their needs..." try to make it work.
On the other hand, the first offer may very well be the best offer they will receive or maybe even the only offer. If they are not happy with it, they should negotiate something that's better for them.
I think that you will handle it beautifully. Sometimes, you just have to put your foot down, because the next offer may not be as good. Friends are not necessarily experts, they mean well no doubt.
The advice not to consider the first offer is very bad. If the offer meets their needs, they should take advantage of the fortunate opportunity.