In real estate, the counter offer is used to accept some – or most – of the other party’s terms, while modifying others. It’s a common practice, but is it risky? We asked our network of over 19,000 real estate professionals if they advise their clients to counter offer. And, If so, under what conditions? Here’s what they said.
The “Perfect” Offer
When representing sellers, I always sit down and go over what components would make up their “perfect” offer. These components could range from price to closing date to having a rent-back. We also discuss what would be an “acceptable” offer. When we receive an offer that doesn’t align with the perfect offer components, we present a counter offer to try to get as close to their perfect contract as possible. If the buyers decline, we evaluate how close the offer is to their acceptable offer requirements and take it from there. Real estate is all about negotiation!
Price & Co.
Negotiation is a BIG part of what I bring to the table. I’ll counter any offer, any time, if my client or I feel it is in their best interests.
Berkshire Hathaway HomeService
An Amiable Solution
Yes. I believe two reasonable parties can come to an agreement if good faith is shown in moving toward an amiable solution. Also, responding in a timely fashion shows respect and gratitude.
Typically, unless we get a full price offer, then yes.
Keller Williams Action Realty, LLC
Less than Asking Price
If the offer is anything less than the asking price.
Keller William Preferred Realty
Your REALTOR is the best source for advice about selling your home. As an experienced real estate expert, they can help you weigh the pros and cons of individual offers, write a counter offer, and select the best offer for your home. They can even help you navigate selling your home in Colorado’s fast-paced housing market.
Knowing when and how to counter offer is a challenge if you’re selling your home on your own. If you aren’t already working with a REALTOR, connect with a real estate professional on REcolorado.com.
Originally published January 11, 2017 — Updated January 23, 2018.