You just got an offer nowhere near your asking price. What an insult! Or is it?
If you stop and think for a moment, they did make you an offer. And in Maryland, you know how much time and paperwork that requires! So this is actually a compliment, for the buyers took the time to select your house and fill out the forms. This isn’t an insult, it’s an opportunity to do some healthy negotiation!
Sometimes buyers just want to test the market to see what your response will be. If you reject them outright, they might take that rejection personally, or see you as inflexible. The best thing to do is to take a breath, talk with your agent, and figure out a counter offer that gets you what you want, while also giving the buyers something.
It’s not always price. The terms of the contract can be just as important – amount of earnest money deposit, settlement date, ability to rent the home back, closing cost help – it’s all negotiable.
So make them a counter offer. The buyer’s response to that counter will usually tell you what they realistically are willing to pay.
Please remember – you can’t negotiate with someone who never made an offer, right?
Laura Kittleman is the owner of The Kittleman Group of Keller Williams Capital Properties, and her team works primarily in Howard County and Montgomery County, Maryland. She can be reached at 301-785-5889 or [email protected].