We’re in a hot seller’s market, but sellers are still finding ways to lose out on deals—here’s why.
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Despite the fact that we’re in a hot seller’s market, sellers are actually losing offers when they should be winning them. They could be entertaining multiple offers and still find a way to botch the deal.
How is this possible? There are three primary reasons:
1. Waiting too long to respond. In other words, they take their time and, if they’re not satisfied with one offer, they assume they’ll get multiple offers.
2. Not knowing what to do when they do get multiple offers. They don’t know which offer to choose, so they make different demands to different buyers in order to escalate each offer, but all that does is turn buyers off. They’ll start to feel used, decide you’re too unreasonable, and drop out of the running.
3. Not allowing the negotiation process to happen correctly. They’ll get a buyer under contract, but if that buyer then asks them to fix some items during the inspection process (a damaged roof, broken water heater, etc.), they won’t agree to fix any of them. Again, they just assume they’ll get another offer, but once that buyer walks away, there aren’t any more.
Whether they’re screwing up the deal in the beginning or near the end, a lot of sellers are missing out on some great offers, so remember these mistakes and avoid them to keep yourself from falling into that same fate.
If you have any questions about this topic or how to strategically align yourself to sell quickly and for top dollar in our Denver market, don’t hesitate to reach out to me. I’d love to help you.