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Your First Buyer Is Your Best in South Jersey

by: Jeff Quintin, on May 23, 2016 - Home Seller Tips

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Today, I want to share with you one common mistake sellers make once they receive their first offer.

In our marketplace, inventory is extremely low and demand is increasing. Multiple offer situations are likely. Additionally, spring is the busiest real estate season of the year. Needless to say, the South Jersey housing market is hot!

In real estate, 99% of the time, your first offer is your best offer. It’s not about where you start, but about where you end up. The average sale price is about 94% of listing price. If that first offer is 94% of the asking price or even higher, remember that’s the sale price average in our area.

It’s not about where you start, but about where you end up.

You always can present a counteroffer. You can’t predict when you will get another offer around the same price, whether it’s the following day or six months later. If your home sits on the market, you’ll likely have to start reducing the price anyway. That’s why the first buyer is usually your best. 

If you’re thinking about buying or selling a home in the surrounding area, give me a call or send me an email. I’d be happy to answer any questions you might have!