The Art of the Counter-Offer - Part 3

The Denninger Report  - by Gini Denninger

When countering, time limits for response are important to move the process along. Buyers must be especially aware during the negotiation process of counter-offers that the house is still on the market and another buyer can come in and scoop the house out from under them. I have shown and had offers accepted on homes that were in the midst of offer/ counter offer negotiations because in the end, my client’s offer was more favorable to the sellers. Before going to see the house I tell my buyers the situation and school them that their first offer has to be their best and final offer since they were in competition with another buyer. Sadly for the other buyers, my buyers perceived more value and chose not to haggle over details because they wanted the house more than a good deal. The sellers perceived my buyers as being more reasonable and so went with their offers instead of haggling over details with the first buyers.

Counter-offers have their place in the art of buying and selling homes, but they must be used judiciously. They are a tool for negotiation. Both buyers and seller must approach using this tool in the spirit of creating a win-win situation for both parties. If this is done, a transaction will come together and end in a positive outcome for both parties.



<< Return to Part 2