The Offer Process
Once a buyer decides that your home is the right one for them, they will put in an offer. At this point your agent will discuss with you the terms of the offer and advise you on what to do next, based on your situation and needs. You may even receive several offers at once, in this situation your agent will guide and advise you but it is ultimately your decision when determining which offer you’d like to work with. If there are terms in the offer you don’t agree with, we will draft a counter offer which is proposing a change of these terms. The buyer can either accept that counter offer or counter back.
The Price is Not Always the Most Important Element
“The higher the price, the better the offer” – Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. You can trust us to help you thoroughly evaluate every proposal without compromising your marketing position.
Here are a few things to consider:
- Closing date (too soon, too late?)
- Financial strength of the buyer
- Pre-approval, reputation of the lender, type of loan product
- Contingencies and special requests
Negotiating The Right Way
We take the responsibility of fairly negotiating contractual terms very seriously. It is our philosophy to find a win-win agreement that is beneficial to all parties involved! If your listing was priced well, you may even have to deal with multiple offers before ratifying the one you judge to be the most suitable for you – and as your agent, we will prepare a thorough and objective assessment of each offer to help you make the right choice.
A Win-Win Relationship
Once an offer is accepted the buyer and seller will engage through their agents to remove contingencies and finalize the deal. In our experience it is important that both parties feel good about the terms of an accepted offer. If one party feels strong armed by the other side, it will usually come back later in the transaction. Most deals in Wisconsin get negotiated twice, first when the offer is made and second when the inspection is completed. Having a good working relationship with the other side is vital for a positive outcome. This is where inexperienced agents can fail and can cause a deal to go into a downward spiral. Mutual trust and respect go a long way and we make it a major priority to work well with the other agent and always negotiate fair and with reason – this usually provides not only for a low stress experience, but typically also for the best financial outcome for the seller!