August 17th, 2014 12:00am
Every listing has a days on market count. One of the first questions a buyer asks is "How long has this home been on the market?". Next question is always " How much did the seller pay and when did they buy it? . For the last 15 years or so the purchase of residential real estate has become an investment first, home second. Humblebragging about how much you "made" on the sale of your home is dinner conversation. Sales are published in the newspaper. It is not uncommon to have a buyer state that the seller does not deserve to make that much money on the sale of their home. These buyers see a home listed at 649 K and think they can buy it at 600 K so they offer 550 K. Do not be insulted, it is a game. Always counter offer, always. One time ,final and best offers are tough. Much depends on the communication between Agents and instinct.Call their bluff or take the offer? At 45 days on the market you have gone through the buyer pool. Analyze your market and feedback from every showing. If the home does not have a clear obstacle such as backing a busy street, then it is all about the money. Regroup, reprice and reach out to every buyer that has shown an interest.