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.

Newest MLS listings in Quinte and PEC

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 lease $20 / ft2
232 FRONT ST, belleville, Ontario

232 Front St

Belleville, Ontario

7500 sqft
Ekort Realty Ltd.
For sale $599,000
33 TALBOT ST, prince edward county, Ontario

33 Talbot St

Prince Edward County, Ontario

3 Bedroom 1 Bathroom
RE/MAX Quinte Ltd.
For sale $849,999
4 EDGE WATER DR, brighton, Ontario

4 Edge Water Dr

Brighton, Ontario

3 Bedroom 4 Bathroom
Royal LePage Terrequity Realty
For sale $199,000
243 N FRONT ST, belleville, Ontario

243 N Front St

Belleville, Ontario

1200 sqft
Royal LePage Real Estate Services Ltd.
For rent $2,450 Monthly
18 SHONIKER AVE, quinte west, Ontario

18 Shoniker Ave

Quinte West, Ontario

3 Bedroom 2 Bathroom
Homelife New World Realty Inc.
For sale $99,999
13 KING DR, quinte west, Ontario

13 King Dr

Quinte West, Ontario

348 sqft
Land/max Realty Inc.
For sale $770,000
38 HARMONY RD, belleville, Ontario

38 Harmony Rd

Belleville, Ontario

5 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For rent $2,690 Monthly
11 ALDER CRT, belleville, Ontario

11 Alder Crt

Belleville, Ontario

3 Bedroom 2 Bathroom
Homelife/future Realty Inc.
For sale $599,900
5196 OLD HIGHWAY 2, belleville, Ontario

5196 Old Highway 2

Belleville, Ontario

3 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $1,998,000
3605 COUNTY ROAD 7, prince edward county, Ontario

3605 County Road 7

Prince Edward County, Ontario

4 Bedroom 3 Bathroom
Chestnut Park Real Estate Limited
For sale $499,900
1051 COUNTY ROAD 13 RD, prince edward county, Ontario

1051 County Road 13 Rd

Prince Edward County, Ontario

Keller Williams Energy Real Estate
For sale $899,000
329 COUNTY ROAD 7, prince edward county, Ontario

329 County Road 7

Prince Edward County, Ontario

4 Bedroom 3 Bathroom
Royal LePage Proalliance Realty
For sale $715,000
39 TESSA BLVD N, belleville, Ontario

39 Tessa Blvd N

Belleville, Ontario

4 Bedroom 3 Bathroom
Royal Heritage Realty Ltd.
For sale $639,000
65 ROYAL GALA DR, brighton, Ontario

65 Royal Gala Dr

Brighton, Ontario

3 Bedroom 3 Bathroom
Our Neighbourhood Realty Inc.
For sale $788,500
312 RIVERSIDE PKWY, quinte west, Ontario

312 Riverside Pkwy

Quinte West, Ontario

3886 sqft
Ekort Realty Ltd.
For sale $299,900
#1 -395 FRONT ST, belleville, Ontario

#1 -395 Front St

Belleville, Ontario

1 Bathroom
Exit Realty Group
For sale $1,079,900
1991 CASEY RD, belleville, Ontario

1991 Casey Rd

Belleville, Ontario

4 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $624,713
635 GUNTER SETTLEMENT RD, quinte west, Ontario

635 Gunter Settlement Rd

Quinte West, Ontario

4 Bedroom 2 Bathroom
Royal LePage Proalliance Realty
For sale $565,900
10 CRISPIN ST, brighton, Ontario

10 Crispin St

Brighton, Ontario

3 Bedroom 3 Bathroom
Coldwell Banker 2m Realty
For sale $259,900
00 LOYALIST PKWY, prince edward county, Ontario

00 Loyalist Pkwy

Prince Edward County, Ontario

Keller Williams Energy Real Estate
For rent $2,500 Monthly
85 MARCKLAND E AVE, prince edward county, Ontario

85 Marckland E Ave

Prince Edward County, Ontario

3 Bedroom 3 Bathroom
Homelife/miracle Realty Ltd
For sale $1,394,000
1169 WILSON RD, prince edward county, Ontario

1169 Wilson Rd

Prince Edward County, Ontario

3 Bedroom 2 Bathroom
RE/MAX Quinte Ltd.
For sale $825,000
185 WILLIAM ST, belleville, Ontario

185 William St

Belleville, Ontario

4 Bedroom 2 Bathroom
Century 21 Lanthorn & Associates Real Estate Ltd.
For rent $3,250 Monthly
28 NORTH TRENT ST, quinte west, Ontario

28 North Trent St

Quinte West, Ontario

4 Bedroom 3 Bathroom
RE/MAX Impact Realty