How much is a standard offer for Sequim real estate? How much less than the listing price do we offer? These are the types of questions I get from clients periodically, and they’re good questions. The answer could be a book, but I’ll get right to the point in this short article.
There really isn’t such a thing as a standard offer or a standard discount from the listing price. If you read national statistics or track my Sequim real estate home sales reports on this blog, you might be tempted to come up with a standard offer that is 5% to 10% less than the listing price. That approach will not work well if you are buying Sequim real estate, and I’ll explain why.
Statistics about Sequim real estate and selling prices are valuable and can give us some guidance in making offers and negotiating, but statistics based on averages alone will not tell us what we need to know about making on offer on your Sequim real estate. There are other important variables you need to know, or at least your buyer’s agent needs to know to help you make a good offer.
How Much on Sequim Real Estate
Some listings are grossly overpriced. For those listings, you would draft an offer that is as much as 30% less than the listing price. Some listings are reasonably priced in this market, and so your offer may be only slightly less, maybe only 2% less. And there are listings that have been on the market for a while and the sellers have finally reached their threshold of pain and the price is now extremely reasonable. In that case, you may make a full price offer. I’ve written several of those lately, and I recently wrote an offer above the listing price.
There are other considerations when making an offer. The location of Sequim real estate makes a difference. The specific features and quality of the home is a factor. Where the home fits within the Bell Curve of what retirees are looking for will be a factor. That means supply and demand is a factor. If the home is not what the majority of retired buyers want, the seller will have to be more negotiable on the price. If the home is that perfect home so many want in a wonderful area with a nice view, at a reasonable listing price that home will likely sell for full price right now. A foreclosure that is a disaster will most likely sell at a substantial discount, but this is also the kind of Sequim real estate that retirees do not want.
Sequim Real Estate – Your Final Offer
There are other factors, such as how many days on market (DOM) the property has been listed, the seller’s motivation (or financial stress), and several other important factors. You can see why I have written that knowing how to negotiate is not something for the inexperienced Realtor. You don’t want to shoot from the hip when it comes to negotiating. When it comes to making an offer on your Sequim real estate, have a good plan and be sure you write a good offer in the beginning. If you need a Sequim buyer’s agent, email me or call me to discuss finding your ideal home and writing a good offer on your Sequim real estate.
Last Updated on September 19, 2019 by Chuck Marunde