As realtors, we often hear the advice that you should never accept the first offer when selling a property. It’s a common myth that many homeowners believe to be true, but is it actually the best advice to follow?

Let’s start by looking at why this myth exists. The idea behind it is that the first offer is often lower than what the property is worth, and if you accept it, you could leave money on the table; and who wants to do that? The theory goes that by rejecting the first offer, you can send a message to potential buyers that you are serious about getting a fair price for your property and that they should come back with a higher offer if they’re serious about buying.

While there may be some truth to this theory, the reality is that rejecting the first offer is not always the best strategy. Here are a few reasons why:

You may not get a better offer.

In some cases, the first offer you receive may actually be the best one you’ll get and for some, maybe the only offer you will get. If you reject it in the hopes of getting a higher offer, you may end up waiting for weeks or even months for another offer that might never come. If you’re a seller who has a tight timeline and needs to sell by a specific date, working with or negotiating that first offer may be the best option you have. 

You risk losing the buyer.

If you reject the first offer, you are running the risk of alienating the buyer and sending them to look at other properties. If they find another property they like during that time, they may decide to make an offer on that one instead. These buyers may have their own timeline that they need to find a place by and when you turn them down the first time in hopes of waiting out something better, you may lose them.

The market can change quickly.

The real estate market is constantly fluctuating and can sometimes be very unpredictable, and what seems like a good offer today may not look as good in a few weeks or months. If you wait too long to accept an offer, you may find that the market has shifted and that you’re no longer getting offers as good as the first one. That first offer that you receive may not be the exact price  that you were hoping for but you never know how the market will change and effect other offers.

So, what should you do if you receive a good offer on your property? The answer is simple: consider it carefully. Look at the offer in detail and consider whether it meets your needs and expectations. If it does, don’t be afraid to accept it or at least negotiate. Remember that the goal of selling your property is to get a fair price based on your needs and expectations and the current real estate market. If the first offer achieves that goal, then there’s no reason not to accept it or if it’s just a little off what you expected, talk to your realtor about your goal and start negotiating.

Of course, every situation is different, and there may be times when rejecting the first offer is the right strategy. However, as a general rule, it’s important to be open-minded and flexible when it comes to selling your property. Don’t let the myth of never accepting the first offer blind you to the potential benefits of a good offer. Trust your real estate agent and your own instincts, and you’ll be well on your way to a successful sale.

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Browse the most recent MLS houses for sale in the Quinte area and Prince Edward County. Search real estate listings to find exactly what you’re looking for and narrow results. Ready to book a showing? Fill out the form on the listing page or email hello@quinteliving.com.

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For sale $450,000
6 BOGART CRESCENT, belleville, Ontario

6 Bogart Crescent

Belleville, Ontario

4 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $445,000
504 BRIDGE STREET E, belleville, Ontario

504 Bridge Street E

Belleville, Ontario

3 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $799,900
2522 COUNTY RD 64, quinte west, Ontario

2522 County Rd 64

Quinte West, Ontario

4997 sqft
Century 21 Lanthorn & Associates Real Estate Ltd.
For sale $649,900
864 SCUTTLEHOLE ROAD, belleville, Ontario

864 Scuttlehole Road

Belleville, Ontario

5 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $389,900
102 YEOMANS STREET, belleville, Ontario

102 Yeomans Street

Belleville, Ontario

3 Bedroom 1 Bathroom
Royal LePage Proalliance Realty
For sale $689,000
36 OAK STREET, belleville, Ontario

36 Oak Street

Belleville, Ontario

6 Bedroom 4 Bathroom
Royal LePage Proalliance Realty
For sale $529,000
15 PC LANE, prince edward county, Ontario

15 Pc Lane

Prince Edward County, Ontario

3 Bedroom 1 Bathroom
Chestnut Park Real Estate Limited
For sale $1,299,900
132 HIDDEN VALLEY DRIVE, belleville, Ontario

132 Hidden Valley Drive

Belleville, Ontario

4 Bedroom 4 Bathroom
RE/MAX Quinte Ltd.
For sale $1,995,000
381 PARTRIDGE HOLLOW ROAD, prince edward county, Ontario

381 Partridge Hollow Road

Prince Edward County, Ontario

4 Bedroom 2 Bathroom
RE/MAX Quinte Ltd.
For sale $230,000
38 MEADOW VIEW LANE, prince edward county, Ontario

38 Meadow View Lane

Prince Edward County, Ontario

2 Bedroom 1 Bathroom
Royal LePage Proalliance Realty
For sale OPEN HOUSE $559,900
27 PEPPER AVENUE, belleville, Ontario

27 Pepper Avenue

Belleville, Ontario

5 Bedroom 2 Bathroom
RE/MAX Quinte Ltd.
For sale $199,900
PT LT 5 CANNIFTON ROAD, belleville, Ontario

Pt Lt 5 Cannifton Road

Belleville, Ontario

Royal LePage Connect Realty
For sale $3,500,000
311 FRONT STREET, belleville, Ontario

311 Front Street

Belleville, Ontario

16500 sqft
Century 21 Leading Edge Realty Inc.
For sale $634,500
22 FARADAY GARDENS, belleville, Ontario

22 Faraday Gardens

Belleville, Ontario

6 Bedroom 2 Bathroom
Homelife/miracle Realty Ltd
For rent $2,650 Monthly
4 - 31 KEEGAN PARKWAY, belleville, Ontario

4 - 31 Keegan Parkway

Belleville, Ontario

2 Bedroom 2 Bathroom
Exit Realty Group
For sale $705,000
857 RIVER ROAD, belleville, Ontario

857 River Road

Belleville, Ontario

4 Bedroom 3 Bathroom
Century 21 Lanthorn Real Estate Ltd.
For sale $199,900
PT LT 5 CANNIFTON Road, belleville, Ontario

Pt Lt 5 Cannifton Road

Belleville, Ontario

Royal LePage Connect Realty
For rent $1,950 Monthly
2 - 251 FRONT STREET, belleville, Ontario

2 - 251 Front Street

Belleville, Ontario

Royal LePage Proalliance Realty
For sale $599,900
11 NORTH PARK GARDENS, belleville, Ontario

11 North Park Gardens

Belleville, Ontario

3 Bedroom 2 Bathroom
RE/MAX Quinte Ltd.
For rent $2,950 Monthly
25 LINDEN LANE, belleville, Ontario

25 Linden Lane

Belleville, Ontario

3 Bedroom 2 Bathroom
RE/MAX Royal Properties Realty
For sale $705,000
17657 TELEPHONE ROAD, quinte west, Ontario

17657 Telephone Road

Quinte West, Ontario

6 Bedroom 4 Bathroom
Direct Realty Ltd.
For sale $599,900
52 COTTONWOOD DRIVE, belleville, Ontario

52 Cottonwood Drive

Belleville, Ontario

3 Bedroom 3 Bathroom
Exp Realty
For sale $1,449,000
107 COUNTRY CHARM DRIVE, belleville, Ontario

107 Country Charm Drive

Belleville, Ontario

5 Bedroom 4 Bathroom
RE/MAX Quinte Ltd.
For sale OPEN HOUSE $899,900
1 WENDY'S LANE, brighton, Ontario

1 Wendy's Lane

Brighton, Ontario

3 Bedroom 2 Bathroom
Royal LePage Proalliance Realty