For those of you that are familiar with the game show “Let’s Make a Deal’ you know what can happen when a contestant is tempted to exchange their current prize with the opportunity to possibly have a better prize behind door number two. All too often that prize ends up being a dud and they wished they had stayed with their first prize.
The same thing happens time and time again in real estate. Your seller receives a strong offer, and in my case two strong offers (well qualified buyer reasonably close to list price), but feels their home may be worth more and decides to hold out for the better offer. When in reality the market has spoken and determined the true value to be the value of the offers and not the list price. However, your seller decides to hold firm on what they feel to be the true value of their home. Time goes by and offers then come in lower than the previous ones. And like the contestants on Let’s Make a Deal who opted for what was behind door number two, they wished they had worked with the offers in hand.
Published on 2015-10-01 14:09:21