Laing+Simmons Corporation
Leanne Pilkington

You should never take the first offer on your house – should you?

By: Leanne Pilkington
July 27, 2012 11:49
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You should never take the first offer on your house – should you?

You put your house on the market, first open home, BAM an offer!  It’s a little below what you had hoped, but within the range the agent quoted.  Great stuff.  Surely that means there is someone out there that will pay more – doesn’t it? 

It is really important that home owners remember that the buyers coming through their property at the BEGINNING of the campaign are usually the HOTEST buyers.

They are the ones that have been looking the longest, that are already known to the agents, and quite often are ready to go with their own home sold and finance organised.

Disregarding early offers, and assuming that it must mean there are more buyers out there can be potentially damaging to the end sale price of your home.  Every single agent out there will have stories about properties that ended up selling below market value months and months down the track.  As a home owner it can be difficult to get your mind around, but the longer the property is on the market the less interest there is in it, and the lower the subsequent price will probably be.

Make sure you do your research on the market and know what the property is truly worth, not what you need it to be worth to buy your “dream” home.

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About the Author

Name
Leanne Pilkington
Title
General Manager
Leanne Pilkington
Leanne has over 25 years experience in the real estate industry and in this time has developed an extensive knowledge of the full spectrum of real estate services. She has a thorough grasp of the issues that affect the NSW property market.

In her role as General Manager, Leanne oversees the operation and growth of the entire Laing+Simmons group, as well as focusing on the growth and development of each franchise. She plays an instrumental role in developing new products, services and training systems to meet the varying needs of each franchise.

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Do I Buy First, or Sell?
By: Leanne Pilkington, August 31, 2012 16:02

You should never take the first offer on your house – should you?
By: Leanne Pilkington, July 27, 2012 11:49

How can you accurately price your home?
By: Leanne Pilkington, July 09, 2012 10:13

SYDNEY NEEDS THE NORTH-WEST RAIL LINK
By: Leanne Pilkington, May 17, 2012 09:37

BANKS - WHO ARE THEY KIDDING
By: Leanne Pilkington, May 07, 2012 10:54

Would a reduction in Stamp Duty increase property turnover?
By: Leanne Pilkington, April 30, 2012 15:42

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By: Leanne Pilkington, February 01, 2012 15:14

Three reasons why there is no Australian housing price bubble: HSBC's Paul Bloxham
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