How to Deal With Low Offers and Keep Your Momentum

When a buyer makes a low offer, it's easy to feel as though you've lost ground already. After all, anyone who's listed a house for sale knows up front that not all offers will be as expected. However, it's important to put this into perspective: a low offer is merely the beginning of a negotiation, not an end result.

Put Feelings Aside

When faced with a low offer, consider your options before reacting to what you feel is a less-than-desirable number. A low offer may include other favorable terms, so it's a good idea to put emotions aside and evaluate the offer objectively. If you're in this situation, it helps to look at the offer as a whole rather than focusing on the number alone.

Compare to Similar Homes Sold

It's also a good idea to evaluate the offer in relation to similar properties that have recently sold in your area. Remember that if your home has been accurately priced and has seen consistent showings, then one buyer's low-ball offer probably isn't an indication of value so much as it is an opener for negotiations.

Move Things Along

It's important to remember that momentum is key when dealing with low offers. In no way should you feel pressured to lower your price or take your home off the market, but a single low offer shouldn't derail your sale completely. If you're feeling unsure of yourself, have your agent help you craft a counteroffer based on the price, terms, and conditions that matter most to you. This keeps the negotiation moving while giving the buyer a chance to respond.

Consider Why You're Getting Low Offers

Another factor to consider is why these low offers are coming in at all. If the buyer has only recently begun their search, they may be testing the waters by submitting a low offer to see how you'll react. On the other hand, a buyer who has been looking for a while may have found their "dream home" and be willing to pay closer to the asking price; the initial low offer is merely their opening bid. In either case, your agent can help you determine why the buyer is submitting an offer lower than expected based on your asking price. This is especially true if you've seen multiple offers trickle in at once, particularly around the same time as a larger market shift.

Avoid Getting Discouraged

A low offer shouldn't be the end of the road for your home sale. The most important thing is to remain calm and collected throughout the entire negotiation. Staying level-headed can make it easier to evaluate each offer and decide how you want to respond. Working with your agent to maintain composure also puts them in a better position to help you negotiate effectively. Your agent can help you weigh the price and terms of an offer and determine which response best supports your goals.

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